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Sentiment · FY2026 Q2
Mettler-Toledo delivered a solid quarter against a more uncertain backdrop, with adjusted EPS of $8.91 up 9% even as local currency sales grew just 3% (1% excluding acquisitions) and GAAP EPS reached $8.33 versus $7.81. Margin discipline and price realization carried results, offsetting an incremental 90 basis point gross tariff headwind that held adjusted operating margin to 26%. Growth was uneven: China industrial rose high single-digit for its third straight strong quarter and Product Inspection grew 11%, while laboratory was roughly flat on weak pipettes and European chemical customers delayed spending amid higher energy costs. Management raised full-year adjusted EPS guidance to a $46.30-$46.95 range (8%-10% growth) from 8%-9%, citing an improving pipeline and PMI that should drive better growth in the second half.
Demand | Revenue Growth | Trade Tariffs | Guidance Reliability | Geographic Expansion | Competitive Dynamics | Macroeconomic | Capex Investment | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 9 | 6 | 2 | 4 | 2 | 3 | 3 | |
| 2025Q1 | 9 | 3 | 8 | 3 | 4 | 2 | 1 | 2 |
| 2025Q2 | 8 | 5 | 8 | 4 | 3 | 1 | 1 | 3 |
| 2025Q3 | 11 | 6 | 2 | 3 | 4 | 4 | 1 | 3 |
| 2025Q4 | 14 | 6 | 1 | 4 | 5 | 4 | 1 | 2 |
| 2026Q1 | 19 | 2 | 1 | 3 | 3 | 1 | 5 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 9 | 9 | 8 | 11 | 14 | 19 |
| Revenue Growth | 6 | 3 | 5 | 6 | 6 | 2 |
| Trade Tariffs | 2 | 8 | 8 | 2 | 1 | 1 |
| Guidance Reliability | 4 | 3 | 4 | 3 | 4 | 3 |
| Geographic Expansion | 2 | 4 | 3 | 4 | 5 | 3 |
| Competitive Dynamics | 3 | 2 | 1 | 4 | 4 | 1 |
| Macroeconomic | 3 | 1 | 1 | 1 | 1 | 5 |
| Capex Investment | 2 | 3 | 3 | 2 | 2 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.05B | +11.8% | $11.96 | +40.4% | 59.4% | 31.9% | 24.1% | $225M |
| FY2025 Q1 | $884M | -4.6% | $7.84 | -4.9% | 57.6% | 24.8% | 18.5% | $177M |
| FY2025 Q2 | $983M | +3.9% | $9.77 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Vijay Kumar | Evercore ISI | 13 (46%) |
| Josh Waldman | Cleveland Research | 13 (0%) |
| Dan Arias | Stifel |
| -5.8% |
| 57.2% |
| 27.0% |
| 20.6% |
| $212M |
| FY2025 Q3 | $1.03B | +7.9% | $10.57 | +6.3% | 57.2% | 28.2% | 21.1% | $275M |
| FY2025 Q4 | $1.13B | +8.1% | $14.02 | +17.2% | 58.0% | 30.4% | 25.3% | $184M |
| FY2026 Q1 | $947M | +7.2% | $8.35 | +6.5% | 58.7% | 26.0% | 17.9% | $122M |
| FY2026 Q2 | $1.03B | +4.5% | $11.55 | +18.2% | 63.3% | 29.8% | 22.7% | $283M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Tycho Peterson | Jefferies | 12 (8%) |
| Patrick Donnelly | Citigroup | 12 (0%) |
| Mike Ryskin | Bank of America | 10 (10%) |
| Jack Meehan | Operon Research | 9 (11%) |
| Catherine Schulte | Robert W. Baird | 8 (0%) |
| Luke Sergott | Barclays | 8 (13%) |
| Dan Leonard | RBC Capital Markets | 7 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jefferies | 2 | 14 (7%) |
| Stifel | 1 | 13 (8%) |
| Cleveland Research | 1 | 13 (0%) |
| Evercore ISI | 1 | 13 (46%) |
| Citigroup | 1 | 12 (0%) |
| Bank of America | 1 | 10 (10%) |
| JPMorgan | 2 | 10 (0%) |
| Robert W. Baird | 2 | 10 (0%) |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
MTD Mettler Toledo | 7 | +7.2% | |
| A Agilent Technologies | 6 | +7.0% | |
| CRL Charles River Laboratories | 4 | +1.2% | |
| DGX Quest Diagnostics | 9 | +9.2% | |
| DHR Danaher Corporation | 7 | +3.7% | |
| IDXX Idexx Laboratories | 8 | +14.3% | |
| IQV IQVIA | 7 | +8.4% | |
| LH LabCorp | 8 | +5.8% | |
| RVTY Revvity | 5 | +7.0% | |
| TMO Thermo Fisher Scientific | 7 | +6.2% | |
| WAT Waters Corporation | 9 | +91.5% |