Mettler-Toledo lowers annual profit forecast on tariff impact
May 1 (Reuters) - Medical equipment maker Mettler-Toledo International MTD.N lowered its annual profit forecast below Wall Street estimates on Thursday, anticipating market uncertainty and impact from tariffs.
The company estimates global tariff costs of about $115 million on an annualized basis and is implementing mitigating actions this year that will fully offset these costs next year.
"The ongoing global trade disputes have significantly increased uncertainty in global customer demand," said CEO Patrick Kaltenbach.
The company now expects 2025 profit in the range of $41.25 to $42.00 per share, down from its previous range of $42.35 to $43.00 per share. Analysts on an average expect $42.54 per share, according to data compiled by LSEG.
Medical equipment makers like Revvity RVTY.N and Thermo Fisher Scientific TMO.N have been warning about the impact of tariffs imposed by the Trump administration.
The Columbus, Ohio-based firm reported first-quarter revenue of $883.7 million, beating estimates of $876.57 million, according to data compiled by LSEG.
On an adjusted basis, Mettler-Toledo earned a profit of $8.19 per share for the quarter ending March 31, surpassing analysts' estimate of $7.89 per share.
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