Mettler-Toledo International (MTD) Revenue — Quarter Ended Sep 30, 2023
Revenue declined in the current quarter compared to both the prior quarter and the same quarter last year. The decrease reflects lower product sales, partially offset by higher service revenue.
Key takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue declined in the current quarter compared to both the prior quarter and the same quarter last year. The decrease reflects lower product sales, partially offset by higher service revenue.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$942.5M
Revenue reported for this quarter.
Quarter-over-quarter
-4.0%
Change from the immediately preceding quarter.
Year-over-year
-4.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$3.9B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $1.1B | +2.0% |
| Mar 31, 2023 | $928.7M | +15.5% |
| Jun 30, 2023 | $982.1M | +21.6% |
| Sep 30, 2023 | $942.5M | -4.4% |
Revenue performance
Total net sales decreased from the immediately preceding quarter, driven by a drop in product revenue. Service revenue increased, but was insufficient to offset the overall decline.
Quarterly comparison
Compared to the same quarter one year earlier, revenue was lower, with product sales declining while service sales rose. The year-over-year change was similar in magnitude to the sequential decline.
What to watch
Monitor whether product revenue trends stabilize in upcoming quarters, given the sequential and year-over-year declines.