Mettler-Toledo International Inc. (NYSE:MTD) Q2 2024 Earnings Conference Call August 2, 2024 7:30 AM ET

Company Participants

Adam Uhlman - Head of Investor Relations
Patrick Kaltenbach - Chief Executive Officer
Shawn Vadala - Chief Financial Officer.

Conference Call Participants

Dan Arias - Stifel
Rachel Vatnsdal - JPMorgan
Vijay Kumar - Evercore
Jack Meehan - Nephron
Matt Sykes - Goldman Sachs
Dan Leonard - UBS
Michael Ryskin - Bank of America
Patrick Donnelly - Citi
Catherine Schulte - Baird
Tycho Peterson - Jefferies

Operator

Thank you for standing by, and welcome to the Mettler-Toledo Second Quarter 2024 Earnings Call. All lines have been placed on mute to prevent any background. After the speakers’ remarks there will be a question-and-answer session [Operator Instructions] And finally, I would like to advise all participants that this call is being recorded. Thank you.

I'd now like to welcome Adam Uhlman, Head of Investor Relations to begin the conference. Adam over to you.

Adam Uhlman

Thanks, Paul, and good morning, everyone. Thanks for joining us. On the call with me today is Patrick Kaltenbach, our Chief Executive Officer; and Shawn Vadala, our Chief Financial Officer.

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 be refer to today 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 condition, 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, please 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 statements, except as required by law.

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

Let me now turn the call over to Patrick.

Patrick Kaltenbach

Thanks, Adam, and good morning, everyone. We appreciate you joining our call today. Last night, we reported our second quarter financial results, the details of which are outlined for you on Page 3 of our presentation. Our team continued to execute well and deliver better-than-expected results in the second quarter, including good growth in Laboratory sales in Europe and Americas. As expected, market conditions in China remained weak in both our Laboratory and industrial businesses. We continue to benefit from our productivity and margin initiatives, which helped mitigate the impact of foreign exchange headwinds and protect our earnings.