Mettler-Toledo International (MTD) Q2 2026 earnings summary

Executive summary

• Q2 2026 reported sales increased 4% year-over-year to $1.027 billion, with local currency sales up 6% excluding a one-time tariff refund to customers.

• Adjusted EPS for Q2 2026 was $11.46, a 14% increase year-over-year; reported EPS was $11.55, up from $9.76.

• Strong organic sales growth, especially in China and emerging markets, contributed to performance.

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

• Strategic initiatives in sales, marketing, and productivity contributed to financial outperformance.

Financial highlights

• Q2 2026 net sales reached $1,027M, up 4% year-over-year; adjusted gross profit rose 8% to $626M.

• Adjusted gross margin improved by 30bp to 59.3%; adjusted operating profit up 9% to $309M.

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

• Gross margin for Q2 2026 was 63.3%, up from 59.0% in Q2 2025.

• Adjusted free cash flow for Q2 2026 was $247.0 million; for the six months, $366.7 million.

Outlook and guidance

• Management expects local currency sales to grow ~4% in Q3 2026; adjusted EPS forecasted at $12.00–$12.15, up 8–9%.

• 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%.

• Continued focus on leveraging automation, digitalization, and onshoring trends to drive growth.

• Management remains agile in capturing new opportunities and executing strategic initiatives.