Jim Cramer recommended buying Mettler-Toledo (MTD) on Mad Money. MTD's Q3 earnings of $11.15 surpassed estimates of $10.64. Quarterly sales of $1.03 billion also exceeded expectations. MTD shares increased by 3.8% to $1,452.35 following the news.
Mettler-Toledo forecasts profits exceeding estimates due to strong lab instrument demand. Expectations of growth are tied to drug development market trends.
- Mettler-Toledo reported $925.95 million in revenue, down 0.3% year over year. - EPS was $8.89, beating the $7.61 consensus estimate by 16.82%. - Net sales for different segments saw varying year-over-year changes. Price Impact Rating: Bearish Impact Horizon Rating: Short-term Type: Earnings
- Mettler-Toledo reported Q1 2024 earnings of $8.89 per share, beating estimates by 16.8%. - Net sales of $925.95 million exceeded estimates, but down 0.3% on a reported basis. - Softness in Food Retail and Asia/Rest of the World were headwinds, while the Laboratory segment improved. - MTD has gained 21.3% YTD, driven by momentum in the Americas and Europe. - Company expects Q2 2024 sales to decline 4% with adjusted earnings falling 11-13%. Price Impact Rating: Bearish Impact Horizon Rating: Short-term Type: Earnings