01—Abstract
Summary
Summary of the 10-Q filed July 31, 2026. Cited figures are marked; the original filing is the authoritative source.
Mettler-Toledo International Inc. reported net sales of $1,027.3 milliona for the three months ended June 30, 2026, up from $983.2 million a year earlier, and net sales of $1,974.4 million for the six months, up from $1,866.97 million.
Net earnings were $232.9 millionb for the quarter versus $202.3 million, and diluted EPS was $11.55 versus $9.76. Results include a one-time benefit of $52.4 million from U.S. IEEPA tariff refunds that reduced cost of sales, partly offset by $27.8 million of tariff-related customer refunds that reduced net sales. Excluding the net tariff effects, the filing states that gross profit as a percentage of net sales was 59.3% for the three months, compared with 59.0% a year earlier.
Gross profit was $650.2 millionc for the quarter, and operating expenses rose modestly, with SG&A of $263.3 million and R&D of $53.0 million. Cash provided by operating activities was $450.2 million for the six months, versus $430.8 million a year earlier, and the company repurchased $412.5 million of common stock during the period. Total debt was $2.11 billion at June 30, 2026, and the company had $562.7 million of additional borrowing capacity under its Credit Agreement and $51.4 million of cash.
Shareholders' equity was $12.8 thousandd (in thousands on the balance sheet, i.e., $12,823 thousand) at June 30, 2026, compared with a deficit of $23.6 million at December 31, 2025, reflecting share repurchases. Management notes that market conditions have improved, but flags continuing uncertainty from global trade disputes and tariffs, the conflicts in Iran and the Middle East, and Ukraine. The filing states that new Section 301 tariffs were imposed on July 23, 2026, including a 12.5% rate on imports from Switzerland and China and a 10% rate on imports from the European Union, United Kingdom, and non-USMCA imports from Mexico.
02—Key points
Key Highlights
- Total net sales were $1,027.3 million for Q2 2026 versus $983.2 million in Q2 2025; six-month net sales were $1,974.4 million versus $1,866.97 million.
- Net earnings were $232.9 million for Q2 2026 versus $202.3 million, and diluted EPS was $11.55 versus $9.76.
- A one-time $52.4 million IEEPA tariff refund benefit reduced cost of sales, offset in part by $27.8 million of tariff-related customer refunds that reduced net sales.
- Gross profit as a percentage of net sales was 63.3% for Q2 2026 (59.3% excluding the one-time tariff refunds) versus 59.0% in Q2 2025.
- Operating cash flow was $450.2 million for the six months ended June 30, 2026, versus $430.8 million a year earlier, and the company spent $412.5 million on share repurchases.
- Total debt was $2.11 billion at June 30, 2026, with $562.7 million of additional Credit Agreement borrowing capacity and $51.4 million of cash and equivalents.
- Management cites ongoing risk from tariffs, the Iran War, and the Ukraine conflict, and notes new Section 301 tariffs imposed on July 23, 2026.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ2 FY2026filed July 31, 2026Financial Statements
Q2 FY2026 against Q2 FY2025
| Line item | Q2 FY2026Q2 FY2025 | Change |
|---|---|---|
| Revenue | $1.03B$983.22M | +4.5% |
| Gross Profit | $650.22M$579.88M | +12.1% |
| R&D Expenses | $52.99M$49.28M | +7.5% |
| SG&A Expenses | $263.33M$247.30M | +6.5% |
| Interest Expense | $17.25M$16.78M | +2.8% |
| Net Income | $232.90M$202.35M | +15.1% |
| EPS (Basic) | $11.57$9.78 | +18.3% |
| EPS (Diluted) | $11.55$9.76 | +18.3% |
| Shares Outstanding (Basic) | 20.12M20.69M | −2.7% |
| Shares Outstanding (Diluted) | 20.17M20.74M | −2.8% |
05—Questions
Frequently Asked Questions
How did Mettler-Toledo's sales and earnings change in the second quarter of 2026?
Net sales rose to $1,027.3 million from $983.2 million, and net earnings rose to $232.9 million from $202.3 million. Diluted EPS was $11.55 compared with $9.76 a year earlier. The results include one-time tariff-related items: a $52.4 million refund benefit that reduced cost of sales and $27.8 million of customer refunds that reduced net sales.
How much of the quarter's results came from one-time tariff refunds?
The filing describes a one-time gross benefit of $52.4 million from IEEPA tariff refunds that reduced cost of sales, offset in part by $27.8 million of tariff-related customer refunds that reduced net sales. The filing states that the segment profit for U.S. Operations included a net benefit of $24.6 million related to these refunds.
What is the company's capital return and balance sheet position?
The company spent $412.5 million on share repurchases during the six months ended June 30, 2026, and had $3.2 billion of remaining repurchase authorization. Total debt was $2.11 billion, cash was $51.4 million, and $562.7 million was available under the Credit Agreement. Total shareholders' equity was $12.8 million at June 30, 2026, compared with a deficit of $23.6 million at December 31, 2025.
What risks does management highlight for the outlook?
Management points to global trade disputes and tariffs, the armed conflict involving Iran and the broader Middle East, and the conflict in Ukraine, which it says create uncertainty in its end markets. It also notes that new Section 301 tariffs took effect after the quarter, including a 12.5% rate on imports from Switzerland and China and a 10% rate on imports from the European Union, United Kingdom, and non-USMCA Mexico.
06—Continue