Feb 6 (Reuters) - Medical equipment maker Mettler-Toledo International MTD.N forecast annual profit above estimates on Thursday, banking on strong demand for its laboratory instruments used in drug development.
The company had said in November that market conditions remain soft, especially in China, but added that it expects them to gradually improve throughout 2025.
Some analysts are hopeful that a recent interest rate cut by the Federal Reserve could improve funding for small- and medium-sized biotechs, as borrowing costs might ease and boost demand.
The Columbus, Ohio-based company forecast 2025 adjusted profit in the range of $42.35 to $43.00 per share, compared to analysts' estimates of $42.13 per share, as per data compiled by LSEG.
Mettler-Toledo said its profit forecast includes headwinds from shipping delays and a stronger dollar.
The firm's fourth-quarter sales rose 12% to $1.05 billion, beating estimates of $1.01 billion.
On an adjusted basis, Mettler-Toledo earned a profit of $12.41 per share for the quarter ending December 31, topping analysts' estimates of $11.71 each.
The company had also said that it would benefit from the prior-year shipping delays in the fourth quarter.
(Reporting by Christy Santhosh and Sneha S K in Bengaluru; Editing by Alan Barona)
((Christy.Santhosh@thomsonreuters.com))
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