2Q17 Beat; Raising Estimates
- 2Q17 (June) adjusted EPS was up 22% YoY to $3.92 (vs $3.22 a year earlier), 2 cents above our estimate;
- Our 2017 EPS estimate is now $17.32 (vs 2016’s record $14.80, Mettler’s typically conservative raised guidance of $17.25-to-$17.35, and our previous $17.15 projection) on broad-based growth, partially offset by food retail;
- Our 2018 EPS estimate is now $19.73 (from $19.10), up 14% from our 2017 projection.
Mettler-Toledo International is a supplier of precision instruments and services. The company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics, and food retailing applications. The company also manufactures several related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development. In addition, the company manufactures metal detection and other end-of-line inspection systems used in production and packaging and provides solutions for use in certain process analytics applications. The company has five segments: United States Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other.
Great Lakes Review is located in Cleveland, Ohio, was founded in 1981 and became a division of Wellington Shields & Co. LLC in 2011. Great Lakes Review is a research boutique focused on the fundamentally-oriented investor seeking companies that dominate their respective specialty niche regardless of industry. The objective is to make money for the long-term by gradually accumulating a diversified portfolio from a universe of no more than 30 companies. Although short-term-oriented accounts will be alerted to trading opportunities, aggressive sell recommendations are triggered only by a deterioration in long-term fundamentals, not by short-term blips or investor fancy. Coverage of those names that lose their earnings momentum or earnings predictability may be dropped and replaced with more vital candidates.
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