Mettler-Toledo: 3Q Earnings Snapshot
COLUMBUS, Ohio (AP) _ Mettler-Toledo International Inc. (MTD) on Thursday reported third-quarter net income of $126.7 million.
The Columbus, Ohio-based company said it had profit of $4.93 per share. Earnings, adjusted for amortization costs and restructuring costs, came to $5.12 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $4.99 per share.
The maker of precision instruments posted revenue of $734.8 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $739.8 million.
For the current quarter ending in December, Mettler-Toledo expects its per-share earnings to range from $6.72 to $6.77.
The company expects full-year earnings in the range of $20.20 to $20.25 per share.
Mettler-Toledo shares have declined nearly 4 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $595.38, a decrease of 4.5 percent in the last 12 months.