METTLER-TOLEDO INTERNATIONAL INC REPORTS THIRD QUARTER 2022 RESULTS.

COLUMBUS, Ohio: Mettler-Toledo International Inc. (NYSE: MTD) today announced third quarter results for 2022. Provided below are the highlights:

Reported sales increased 4% compared with the prior year. In local currency, sales increased 10% in the quarter as currency reduced sales growth by 6%.

Net earnings per diluted share as reported (EPS) were $9.76, compared with $8.71 in the prior-year period. Adjusted EPS was $10.18, an increase of 17% over the prior-year amount of $8.72. Adjusted EPS is a non-GAAP measure, and a reconciliation to EPS is included on the last page of the attached schedules.

Third Quarter Results

Patrick Kaltenbach, President and Chief Executive Officer, stated, "Our team delivered another quarter of strong results, with particularly good results in the Americas and China. We had very good growth in our Laboratory and Core Industrial businesses as our sophisticated sales and marketing programs, our innovative product portfolio, and our supply chain agility continue to be strong competitive advantages. Robust sales growth and effective execution of our margin initiatives resulted in excellent growth in Adjusted Operating Profit and Adjusted EPS, despite significant foreign currency headwinds."

GAAP Results

EPS in the quarter was $9.76, compared with the prior-year amount of $8.71.

Compared with the prior year, total reported sales increased 4% to $985.8 million. By region, reported sales increased 11% in the Americas, decreased 12% in Europe and increased 7% in Asia/Rest of World. Earnings before taxes amounted to $275.9 million, compared with $247.6 million in the prior year.

Non-GAAP Results

Adjusted EPS was $10.18, an increase of 17% over the prior-year amount of $8.72.

Compared with the prior year, total sales in local currency increased 10% as currency reduced sales growth by 6%. By region, local currency sales increased 11% in the Americas, 1% in Europe and 15% in Asia/Rest of World. Adjusted Operating Profit amounted to $307.2 million, a 13% increase from the prior-year amount of $272.8 million.

Adjusted EPS and Adjusted Operating Profit are non-GAAP measures. Reconciliations to the most comparable GAAP measures are provided in the attached schedules.

Nine Month Results

GAAP Results

EPS was $26.58, compared with the prior-year amount of $22.86.

Compared with the prior year, total reported sales increased 7% to $2,862.0 million. By region, reported sales increased 13% in the Americas, decreased 5% in Europe and...