Ecolab Inc. (ECL) revealed that its subsidiary Nalco Champion has opened a 106,000-square-meter plant in Jurong Island, Singapore. The new plant will supply chemistry solutions for oil and gas companies in the Eastern Hemisphere.
According to the company, the Singapore facility installed latest production technologies. The facility is built in a way that will allow further expansion in the future.
Nalco Champion is a leading provider of specialty value-added chemistry solutions and technologies that conserve natural resources for upstream and downstream oil and gas companies.
Nalco is based in Naperville, IL. It became a subsidiary of Ecolab in Dec 2011. The company serves more than 70,000 customers in over 130 countries.
For the second quarter of 2014, Ecolab posted earnings surprise of 0.98%. The company recorded a decent 20% rise in adjusted earnings per share (excluding special gains and charges) to $1.03 for the quarter from 86 cents in the same quarter of 2013.
The rise in adjusted earnings was attributable to strong sales growth and operating margin gains. Adjusted net earnings rose 18% to $314.4 million from $265.5 million in the second quarter of 2013.
Ecolab is scheduled to report its 2014-third quarter earnings on Oct 28. The company expects adjusted gross margin of 47% and adjusted earnings per share of $1.18 to $1.22, for the quarter, which reflect a 13–17% rise from adjusted earnings per share of $1.04 in the comparable quarter of 2013. The Zacks Consensus Estimate of $1.21 lies within the guided range.
For full year 2014, Ecolab anticipates adjusted gross margin of 47% and upgraded its adjusted earnings per share to $4.14–$4.20 from $4.10 to $4.20. The upgraded earnings per share reflect a 17 to 19% rise over the prior year. The Zacks Consensus Estimate of $4.19 for the year lies within the guided range.
Ecolab currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry include Globe Specialty Metals, Inc. (GSM), Minerals Technologies Inc. (MTX), and ZELTIQ Aesthetics, Inc. (ZLTQ). Minerals Technologies and ZELTIQ Aesthetics sport a Zacks Rank #1 (Strong Buy), while Globe Specialty Metals carries a Zacks Rank #2 (Buy).
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