Mettler-Toledo Reports 2% Increase in Net Sales to $3.87 Billion for Fiscal Year 2024

Mettler-Toledo International Inc. reported a modest increase in net sales for the fiscal year ended December 31, 2024, reaching $3.87 billion, up 2% from $3.79 billion in 2023. In local currencies, net sales also increased by 3%. The company's profitability improved, with net earnings rising to $863.1 million, compared to $788.8 million in the previous year. This resulted in diluted earnings per share of $40.48, up from $35.90 in 2023. The gross profit margin also saw an uptick, reaching 60.1% in 2024, compared to 59.2% in 2023, driven by favorable pricing and productivity initiatives.

The company experienced significant changes in its operational landscape, particularly in its Chinese operations, which saw a 13% decline in net sales, reflecting ongoing market challenges. In contrast, the U.S. operations reported a 3% increase in net sales, bolstered by strong demand for laboratory products, which accounted for approximately 56% of total sales. The industrial segment remained stable, while food retailing sales decreased by 14%, attributed to strong project activity in the previous year. Overall, Mettler-Toledo's diversified customer base and extensive global sales network contributed to its resilience amid fluctuating market conditions.

Strategically, Mettler-Toledo continued to invest in research and development, allocating approximately $189 million in 2024, which represents about 4.9% of net sales. The company also focused on enhancing its service offerings, which accounted for 24% of net sales, reflecting a growing emphasis on customer support and regulatory compliance. The company’s share repurchase program remains robust, with $850 million spent in 2024, and a remaining authorization of $1.7 billion as of year-end.

Mettler-Toledo's workforce totaled approximately 17,300 employees globally, with a significant presence in Europe, North America, and Asia. The company reported a diverse employee demographic, with 36% of its workforce being female, and approximately 29% in management positions. The company emphasized its commitment to sustainability, achieving carbon neutrality for its operations and setting ambitious goals for waste reduction and supply chain transparency.

Looking ahead, Mettler-Toledo anticipates continued growth driven by trends in automation and digitalization, despite the challenges in its core markets, particularly in the pharmaceutical and food sectors. The company remains cautious about the macroeconomic environment, including geopolitical tensions and inflationary pressures, which could impact demand. However, Mettler-Toledo is well-positioned to leverage its innovative product portfolio and global market leadership to capture future growth opportunities.