logo
  

Ecolab Continues To Expect Strong Earnings Growth In H2

Ecolab Inc. (ECL) said its first-quarter reported net income decreased 11% from the prior year. Excluding the impact of special gains and charges and discrete tax items,
adjusted net income increased 1% year-on-year. The company noted that earnings increase reflected accelerating pricing and strong volume growth. Reported sales were up 13%, fixed currency sales increased 16% and acquisition adjusted fixed currency sales increased 12% compared to the prior year.

Looking forward, the company expects to deliver low-teens growth in adjusted diluted earnings per share for the full year 2022. For the second-quarter, the company targets adjusted earnings per share approaching last year's $1.22.

For the first quarter, the company's bottom line came in at $171.9 million, or $0.60 per share compared with $193.6 million, or $0.67 per share, prior year. Excluding items, Ecolab reported adjusted earnings of $236.5 million or $0.82 per share for the period. Analysts on average had expected the company to earn $0.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.1% to $3.27 billion from $2.89 billion last year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Credit Suisse Group AG were losing around 9 percent in the morning trading in Switzerland as well as in pre-market activity on the NYSE after the banking major said it sees substantial loss before taxes in fiscal 2023 after reporting narrower loss in its fourth quarter with lower expenses, despite weak revenues. Walt Disney Co. announced plans to cut 7,000 jobs worldwide as part of its restructuring efforts to save billions in costs. The planned layoffs represent around 3.6 percent of Disney's global workforce. Chief Executive Officer Bob Iger, during the company's first-quarter earnings call, said the restructuring would help the firm save $5.5 billion in costs. Ride-hailing and delivery platform Uber Technologies, Inc. reported Wednesday weak profit in its fourth quarter, while adjusted EBITDA surged from last year with strong revenue growth above market view. Gross bookings increased and the company projects higher gross bookings in the first quarter. Nelson Chai, CFO, said the company significantly exceeded profitability outlook in 2022, ...
Follow RTT