Mettler-Toledo International Inc. said its adjusted operating income for the second quarter came to $4.65, compared with the S&P Capital IQ consensus normalized EPS estimate of $4.58.
EPS climbed 18.6% year over year from $3.92. Adjusted operating income totaled $169.3 million, an increase of 14.8% from $147.4 million in the prior-year period.
The U.S. laboratory equipment maker's net sales grew 10% year over year to $722.0 million from $653.7 million.
Net earnings increased 9.7% from the prior-year period to $111.5 million, or $4.31 per share, from $101.6 million, or $3.84 per share.
"We had very good sales growth in the quarter against an excellent prior year. Our sales performance was broad-based with China being especially robust," Olivier Filliol, the company's president and CEO, said in a July 26 statement. "We also achieved another quarter of strong EPS growth."
Columbus, Ohio-based Mettler-Toledo expects third-quarter sales growth to result in adjusted EPS within the range of $4.97 to $5.02, an increase of 14% to 15%.
The S&P Capital IQ consensus normalized EPS estimate for the third quarter is $5.05.
Mettler-Toledo reiterated its full-year guidance, with rising revenue expected to yield adjusted EPS in the range of $20.10 to $20.25, which reflects growth of 14% to 15%.
The S&P Capital IQ consensus normalized EPS estimate for 2018 is $20.20.
"Demand remains solid in our markets and we continue to achieve favorable results from our growth initiatives," Filliol said. "Earnings growth was very good in the first half and, assuming market conditions do not deteriorate, we remain confident in our outlook for the remainder of the year."