Ecolab Inc. ECL, founded in 1923 and headquartered in St. Paul, MN, is a leading provider of cleaning, sanitizing, food safety and infection prevention products and services. The company serves the foodservice, food and beverage processing, healthcare, and hospitality markets both in the U.S. as well as internationally. The company’s 10 operating units have been aggregated into 4 reportable segments, namely Global Industrial, Global Institutional, Global Energy and Other.
Currently, Ecolab has a Zacks Rank #3 (Hold) but that could change following its third-quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Ecolab posted adjusted earnings of $1.28 per share, which increased nearly 6% on a year-over-year basis and was in line with the Zacks Consensus Estimate.
Sales: Net sales amounted to $3.45 billion, down 7% from the prior-year quarter and missed the Zacks Consensus Estimate of $3.54 billion.
Key Stats: Global Industrial segment sales grew 7% year over year to $1.27 billion. Global Institutional segment sales increased 5% to $1.14 billion. Global Energy segment sales declined 12% year over year to $927 million, whereas sales from the Other segment grew 5% year over year to $202 million.
Major Factors: Ecolab lowered its earnings forecast for 2015. The company now expects adjusted earnings in the range of $4.35–$4.45, representing a year-over-year growth of 4%–6%. Unfavorable foreign currency exchange rate and pension is expected to hurt earnings by 33 cents per share.
Stock Price: Following the earnings release, share prices fell 0.7% in the pre-market trading session.
Check back later for our full write up on this Ecolab earnings report later!
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