Consistent Earnings Model Yields 16% EPS Growth Over the Last 20 Years
- A model for dependable results with EPS up double-digits essentially every year since the 2009 recession (when it slipped only 4%), EPS is projected up 14% in 2018 to a record $20.09 and 14% in 2019 to $22.89.
- Through pricing power, efficiency programs and cost controls, operating margins have expanded from 19.0% in 2012 to 24.2% in 2017 to an estimated 24.7% in 2018.
- Mettler is the leader for 85% of its precision instruments at more than 2x the size of its nearest competitor, but with less than a 25% share in the majority of its fragmented markets, allowing for continued market share gains.
- Higher margin service and consumables account for nearly 30% as a percentage of revenue at margins 8-to-10 points higher than product sales.
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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