Mettler-Toledo International Inc. (NYSE:MTD) Q1 2018 Earnings Conference Call - Final Transcript

May 03, 2018 • 05:00 pm ET


Mettler-Toledo International Inc. (NYSE:MTD) Q1 2018 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen and welcome to our First Quarter 2018 Mettler-Toledo International Earnings Conference Call. My name is Scott and I will be your audio coordinator for today. All lines have been placed on mute to prevent any background noise. After the speaker's remarks there will be a question-and-answer session.

(Operator Instructions)

I would now like to turn our presentation over to your hostess for today's call, Ms. Mary Finnegan. Please proceed ma'am.

Mary Finnegan

Thanks, Scott and good evening everyone. I'm Mary Finnegan. I handle Treasury and Investor Relations at Mettler-Toledo. I'm glad that you're joining us this evening. I'm joined by Olivier Filliol, our CEO and Bill Donnelly, our Executive Vice President. I need to cover just a couple administrative matters before we start. This call is being webcast and is available for replay on our website. A copy of the press release and the presentation we refer to are also on our website.

Let me summarize the safe harbor language that you see on page two. Statements in this presentation which are not historical facts constitute forward-looking statements within the meaning of the US Securities Act of 1933 and the US Securities Exchange Act of 1934. These statements involve risks, uncertainties and other factors that may cause our actual results, levels of activity performance or 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 Form 10-K. All forward-looking statements are qualified in their entirety by reference to the factors discussed under the captions Factors Affecting Our Operating Results and in the Business and Management Discussion Analysis of Financial Condition and Results of Operations in our Form 10-K. Just one last item on today's call we may use non-GAAP financial measures. More detailed information with respect to the use of and the differences between the non-GAAP financial measure and the most directly comparable GAAP measure is provided in our Form 8-K. I will now turn the call over to Olivier.

Olivier Filliol

Thank you, Mary and welcome to everyone on the call. I will start with a summary of the quarter and then Bill will provide details on our financial results and an update to our guidance. I will then have some additional comments and we will then open the lines for Q&A.

The highlights for the quarter are on page three of the presentation. Local currency sales growth of 5% came in pretty much as we expected and was impacted by the excellent growth in the prior year. As a reminder in the first quarter of 2017, we had local currency sales growth of 12%. China did very well in the quarter with a strong base sales growth. Our overall solid top line growth rose another quarter of strong adjusted EPS growth. Demand in our markets remains solid and we believe we are well positioned for further market share gains.

Let me turn it over Bill to provide additional details on the financial