Mettler-Toledo International (MTD) Revenue — Quarter Ended Mar 31, 2024
Revenue for the reported quarter declined slightly compared to both the immediately preceding quarter and the same period one year earlier. The decrease was driven by lower product sales, partially offset by growth in service revenue.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the reported quarter declined slightly compared to both the immediately preceding quarter and the same period one year earlier. The decrease was driven by lower product sales, partially offset by growth in service revenue.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$925.9M
Revenue reported for this quarter.
Quarter-over-quarter
-1.0%
Change from the immediately preceding quarter.
Year-over-year
-0.3%
Change from the comparable year-ago quarter.
Trailing four quarters
$3.8B
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 |
|---|---|---|
| Jun 30, 2023 | $982.1M | +21.6% |
| Sep 30, 2023 | $942.5M | -4.4% |
| Dec 31, 2023 | $935M | -11.6% |
| Mar 31, 2024 | $925.9M | -0.3% |
Revenue performance
Total net sales edged lower as a decline in product revenue outweighed an increase in service revenue. Gross profit remained relatively stable despite the revenue dip.
Quarterly comparison
Compared to the preceding quarter, revenue continued the downward trend seen in recent periods. Year-over-year, the decline was modest, with service revenue showing resilience.
What to watch
Monitor whether the trend of declining product sales persists in upcoming quarters.