Mettler-Toledo International Inc. (NYSE:MTD) Q4 2018 Earnings Conference Call Transcript

Feb 07, 2019 • 04:30 pm ET

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Mettler-Toledo International Inc. (NYSE:MTD) Q4 2018 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen, and welcome to our Fourth Quarter 2018 Mettler-Toledo International Earnings Conference Call. My name is Catherine, and I will be your audio coordinator for today. All lines have been placed on mute to prevent any background noise. After the speakers' 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.

Executive
Mary T. Finnegan

Thanks, Katherine, and good evening, everyone. I'm Mary Finnegan, I'm Treasurer and responsible for Investor Relations at Mettler-Toledo. I'm happy that you're joining us this evening. I'm joined by Olivier Filliol, our CEO; and Shawn Vadala, our Chief Financial Officer. I need to cover just a couple of administrative matters. This call is being webcast and is available for replay on our website. A copy of the press release and the presentation that we refer to is also available on the website.

Let me summarize the safe harbor language, which you see on Page 2 of the presentation. 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 the forward-looking statements are qualified in their entirety by reference to the factors discussed under the captions, Factors Affecting Our Future Operating Results and in the Business and MD&A of Financial Condition and Results of Operations in our Form 10-K.

Just one other 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 measures and the most directly comparable GAAP measures is provided in our Form 8-K.

I will now turn the call over to Olivier.

Executive
Olivier A. Filliol

Thank you, Mary, and welcome to everyone on the call, which we are doing from Switzerland this quarter, which is why we started a little earlier than we normally do. I will start with a summary of the quarter, and then Shawn will provide details on our financial results and guidance. I will then have some additional comments and we will open the lines for Q&A.

The highlights for the quarter are on Page 3 of the presentation. We are very pleased with the strong finish to the year with our fourth quarter results. Local-currency sales growth was better than expected as demand in our markets remained favorable and we continued to execute very well. Total local-currency sales grew 8% in the quarter. We had strong broad-based growth in most of our laboratory and industrial product lines. China had another quarter of excellent growth. Our sales growth combined with results from our margin and productivity measures drove very