second quarter 2026
Filed Jul 30, 2026METTLER-TOLEDO INTERNATIONAL INC. REPORTS SECOND QUARTER 2026 RESULTS
Second-quarter reported sales increased 4% to $1.027 billion, adjusted EPS increased 14% to $11.46, and full-year adjusted EPS guidance was raised to $47.15 to $47.50 from $46.30 to $46.95.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Q2 2026 Net salesGAAP | $1,027,314 (amounts in thousands) | – | increased 4% |
| Q2 2026 Local currency salesother | increased 3% | – | increased 3% |
| Q2 2026 Local currency sales excluding one-time tariff refunds to customersother | increased 6% | – | increased 6% |
| Q2 2026 Cost of salesGAAP | $377,096 (amounts in thousands) | – | – |
| Q2 2026 Gross profitGAAP | $650,218 (amounts in thousands) | – | – |
| Q2 2026 Gross marginGAAP | 63.3% | – | – |
| Q2 2026 Research and developmentGAAP | $52,989 (amounts in thousands) | – | – |
| Q2 2026 Selling, general and administrativeGAAP | $263,334 (amounts in thousands) | – | – |
| Q2 2026 AmortizationGAAP | $19,426 (amounts in thousands) | – | – |
| Q2 2026 Interest expenseGAAP | $17,246 (amounts in thousands) | – | – |
| Q2 2026 Restructuring chargesGAAP | $5,450 (amounts in thousands) | – | – |
| Q2 2026 Other charges (income), netGAAP | $2,372 (amounts in thousands) | – | – |
| Q2 2026 Earnings before taxesGAAP | $289,401 (amounts in thousands) | – | – |
| Q2 2026 Provision for taxesGAAP | $56,502 (amounts in thousands) | – | – |
| Q2 2026 Net earningsGAAP | $232,899 (amounts in thousands) | – | – |
| Q2 2026 Diluted earnings per common shareGAAP | $11.55 | – | – |
| Q2 2026 Adjusted EPSnon-GAAP | $11.46 | – | increased 14% |
| Q2 2026 Adjusted operating profitnon-GAAP | $309,344 (amounts in thousands) | – | increased 9% |
| Q2 2026 Adjusted operating profit marginnon-GAAP | 29.3% | – | – |
| Six months ended June 30, 2026 Net salesGAAP | $1,974,441 (amounts in thousands) | – | increased 6% |
| Six months ended June 30, 2026 Gross profitGAAP | $1,206,034 (amounts in thousands) | – | – |
| Six months ended June 30, 2026 Gross marginGAAP | 61.1% | – | – |
| Six months ended June 30, 2026 Earnings before taxesGAAP | $499,056 (amounts in thousands) | – | – |
| Six months ended June 30, 2026 Net earningsGAAP | $402,353 (amounts in thousands) | – | – |
| Six months ended June 30, 2026 Diluted earnings per common shareGAAP | $19.87 | – | – |
| Six months ended June 30, 2026 Adjusted EPSnon-GAAP | $20.35 | – | increased 11% |
| Six months ended June 30, 2026 Adjusted operating profitnon-GAAP | $555.6 million | – | – |
| Q2 2026 Americas reported salesother | decreased 3% | – | decreased 3% |
| Q2 2026 Europe reported salesother | increased 7% | – | increased 7% |
| Q2 2026 Asia/Rest of World reported salesother | increased 12% | – | increased 12% |
third quarter of 2026 and full year 2026 outlook
- RevenueThird quarter of 2026 local currency sales will increase approximately 4%. Full year 2026 local currency sales will increase approximately 4% to 5% excluding tariff refunds to customers.
- NoteThird quarter of 2026 Adjusted EPS is forecast to be $12.00 to $12.15, a growth rate of 8% to 9%.
- NoteFull year 2026 Adjusted EPS is forecast to be in the range of $47.15 to $47.50, representing growth of approximately 10% to 11%.
What drove it
- Better than expected organic sales growth across the portfolio.
- Very good growth in China and emerging markets.
- Improved market conditions.
- Benefits from Spinnaker sales and marketing and productivity initiatives.
- A one-time $52 million benefit from IEEPA tariff refunds that benefited Cost of Sales.
- A one-time $28 million related refund to customers that reduced Net Sales.
Concerns
- Management cautions that market conditions are uncertain and could change quickly.
- Reported sales in the Americas decreased 3% in the second quarter.
- One-time tariff refunds to customers reduced second-quarter sales growth by 3%.
What to watch
- Third-quarter local currency sales growth anticipated to be approximately 4%.
- Third-quarter Adjusted EPS forecast of $12.00 to $12.15.
- Execution of the Spinnaker program and productivity initiatives.
- Growth in China, emerging markets, Europe, and Asia/Rest of World.
- The effects of global trade disputes and tariffs, governmental policies, inflation, geopolitical conditions, and market conditions.
Analysis
Mettler-Toledo reported a strong second quarter, with reported sales increasing 4% to $1.027 billion and local currency sales increasing 6% excluding a one-time tariff refund to customers. Management cited better than expected organic sales growth across its portfolio, very good growth in China and emerging markets, and improved market conditions. Asia/Rest of World reported sales increased 12% and Europe increased 7%, while Americas reported sales decreased 3%.
Profitability measures were substantially higher than the prior-year period. GAAP gross profit was $650,218 (amounts in thousands), or 63.3% of sales, versus $579,876 (amounts in thousands), or 59.0% of sales. Earnings before taxes were $289,401 (amounts in thousands) versus $248,657 (amounts in thousands), net earnings were $232,899 (amounts in thousands) versus $202,348 (amounts in thousands), and diluted EPS was $11.55 versus $9.76.
Non-GAAP results reflected the tariff-related adjustments and operating initiatives. The company excluded a one-time $52 million benefit from IEEPA tariff refunds in Cost of Sales and a one-time $28 million related refund to customers that reduced Net Sales. Adjusted operating profit was $309,344 (amounts in thousands), or 29.3% of sales, compared with $283,293 (amounts in thousands), or 28.8% of sales. Adjusted EPS increased 14% to $11.46 from $10.09, which management attributed to sales growth, improved market conditions, and Spinnaker sales and marketing and productivity initiatives.
For the first six months, reported sales increased 6% to $1,974,441 (amounts in thousands), while adjusted EPS increased 11% to $20.35. Full-year local currency sales growth is anticipated at approximately 4% to 5% excluding tariff refunds to customers, and full-year adjusted EPS is forecast at $47.15 to $47.50. This compares with previous local currency sales growth guidance of approximately 4% and previous adjusted EPS guidance of $46.30 to $46.95. Management also cautioned that market conditions are uncertain and could change quickly.
Management, verbatim
Our second quarter results were strong and reflected better than expected organic sales growth across our portfolio, including very good growth in China and emerging markets. Improved market conditions and benefits from our Spinnaker sales and marketing and productivity initiatives resulted in excellent Adjusted EPS growth in the quarter.
Patrick Kaltenbach, President and Chief Executive Officer
Our team remains agile and focused on capturing growth opportunities leveraging our sophisticated Spinnaker program and innovative product portfolio, while benefiting from trends in automation, digitalization, and onshoring investments. I am confident that strong execution of our strategic initiatives will continue to deliver solid financial performance.
Patrick Kaltenbach, President and Chief Executive Officer
Not in the filing
stated, not guessed- Dollar revenue by geographic region or operating segment
- Prior-quarter comparisons for reported metrics
- Operating cash flow
- Free cash flow
- Cash and cash equivalents
- Debt
- Share repurchases
- Dividends
- Forward guidance for GAAP measures, gross margin, operating expenses, and tax rate
- A separately provided previous-release outlook for formal actual-versus-prior-guidance comparison
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.