Mettler-Toledo International (MTD) investor relations material

Executive summary

• Q2 2026 net sales reached $1.03 billion, up 4% year-over-year, with strong organic growth in China and emerging markets, and a 14% increase in adjusted EPS to $11.46.

• Performance was supported by productivity initiatives, innovation, and strategic focus on automation, digitalization, and onshoring trends.

• Results included a one-time $52.4 million U.S. government tariff refund, partially offset by $27.8 million in customer refunds, impacting both cost of sales and net sales.

• Segment profit and margins expanded, notably in China and the U.S., reflecting higher sales and operational improvements.

• Six-month reported sales were $1.974 billion, up 6% year-over-year; adjusted EPS for the period was $20.35, up 11%.

Financial highlights

• Q2 2026 adjusted gross margin was 59.3% (63.3% including one-time items), up 30 bps year-over-year; adjusted operating profit was $309 million, up 9%.

• Adjusted EPS for Q2 2026 was $11.46, a 14% increase; reported EPS was $11.55, including the tariff refund benefit.

• Operating cash flow for the first half of 2026 was $450.2 million; adjusted free cash flow was $366.7 million.

• Q2 2026 earnings before taxes were $289.4 million, up from $248.7 million in Q2 2025.

• Debt to EBITDA covenant maintained below 3.5x; interest coverage above 3.0x.

Outlook and guidance

• Full-year 2026 local currency sales growth expected at 4–5% (excluding tariff refunds); adjusted EPS guidance raised to $47.15–$47.50, up 10–11%.

• Q3 2026 local currency sales expected to grow ~4%; adjusted EPS forecasted at $12.00–$12.15.

• Free cash flow expected at $900 million for 2026; share repurchases to increase to $875 million for the year.

• Management continues to invest in digital tools, product innovation, and field organization to support future performance.

• Guidance includes some conservatism to de-risk for geopolitical uncertainties.