Ecolab Q2 Results Top Estimates; Sees Improved H2 Performance

Ecolab Inc. (ECL) reported Tuesday that net income attributable to Ecolab for the second quarter of $308.3 million or $1.08 per share, compared to $310.8 million or $1.08 per share in the prior-year quarter.

Excluding items, adjusted earnings were $1.10 per share, compared to $1.22 per share in the year-ago quarter.

Net sales for the quarter grew 13 percent to $3.58 billion from $3.16 billion in the same quarter last year. Fixed currency sales were up 17 percent.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.09 per share on sales of $3.51 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, the company said it expects overall performance to improve sequentially in the second half, though full year earnings will be impacted by increasing currency translation headwinds.

For the third quarter, the company expects continued strong sales growth and a sequentially narrowing decline in year-over-year adjusted diluted earnings per share comparisons.

For the fourth quarter, the company sees accelerating earnings growth, resulting in modest gains in full year 2022 adjusted earnings per share.

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