Mettler-Toledo International Inc

MTD: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$3,673.00	Xrmrvtw	Vgrrypbnz

Mettler-Toledo Earnings: 2023 Revenue and 2024 Guidance Challenged by Weak Market Conditions

Julie Utterback , Ava Gams

Feb 9, 2024

We are maintaining our $880 fair value estimate for narrow-moat Mettler-Toledo as fourth-quarter and full-year 2023 results were about as expected. Following the January announcement of shipping delays impacting sales late in the fourth quarter, we updated our model to temper our 2023 revenue and adjusted EPS forecasts while lifting our respective 2024 forecasts to reflect the anticipated recovery in sales in first-quarter 2024. Shares currently look overvalued relative to our unchanged valuation.

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