Mettler-Toledo International Inc. (MTD) Q3 2022 Earnings Call Transcript

For the period ending September 30, 2022

November 3, 2022 5:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good afternoon. My name is Audra, and I will be your conference operator today. At this time I would like to welcome everyone to the Mettler-Toledo Third Quarter 2022 Earnings Call. Today’s conference is being recorded. All lines have been placed on-mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session.

At this time, I would like to turn the conference over to Adam Uhlman at Investor Relations. Please go ahead.

Adam Uhlman - IR

Thanks, Audra, and good evening, everyone. I am Adam Uhlman. I am responsible for Investor Relations at Mettler-Toledo and I am happy to welcome you all to this call. I am joined with Patrick Kaltenbach, our CEO; and Shawn Vadala, our CFO; and Mary Finnegan.

Let me cover some administrative matters. This call is being webcast and is available for replay on our website at mt.com. A copy of the press release and the presentation that we will refer to on today’s call is also available on our website.

This call will include forward-looking statements within the meaning of the U.S. Securities Act of 1933 and the U.S. Securities Exchange Act of 1934. These statements involve risks, uncertainties and other factors that may cause our actual results, financial conditions, performance and achievements to be materially different from those expressed or implied by any forward-looking statements.

For a discussion of these risks and uncertainties, see our recent annual report on Form 10-K and quarterly and current reports filed with the SEC. The company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement except as required by law.

On today’s call we may use non-GAAP financial measures. A reconciliation to these non-GAAP financial measures to the most directly comparable GAAP measures is provided in the 8-K and about -- and available on our website.

Let me now turn the call over to Patrick.

Patrick Kaltenbach - CEO

Thanks, Adam, and good evening, everyone. We appreciate you joining our call. I am pleased to report another quarter of strong results as our sophisticated sales and marketing programs, our innovative product portfolio and that supply chain agility continues to be strong competitive advantages.

The highlights of our third-quarter performance are detailed on page three of the presentation. Local currency sales in the quarter increased 10% as compared to the prior year. We have particular strong results in the Americas and in China. Yet, it’s very good growth in our Laboratory and Core Industrial businesses.