Ecolab Posts Mixed Q2 Performance; Warns On Challenging Macro Environment

Ecolab Inc ECL reported second-quarter FY23 sales growth of 8% year-on-year to $3.85 billion, missing the analyst consensus of $3.87 billion.

Sales from Global Industrial rose 9%, Global Institutional & Specialty climbed 13%, Global Healthcare & Life Sciences grew 1% Y/Y in fixed currency.

Adjusted EPS of $1.24 beat the analyst consensus of $1.21.

Selling, general and administrative expenses rose 8% Y/Y. The operating margin was 12.6%, and operating income for the quarter rose 14% to $484.7 million.

The company held $554.2 million in cash and equivalents as of June 30, 2023.

Outlook: Ecolab sees Q3 FY23 adjusted EPS of $1.45-$1.55 versus the consensus of $1.47.

Ecolab expects quantifiable special charges in the third quarter of 2023 to be approximately $0.05 per share, principally related to restructuring charges. 

Ecolab expects to more than overcome the volatile macro environment to deliver mid-teens growth in adjusted EPS in the second half of 2023.

Price Action: ECL shares are trading lower by 0.52% at $182.18 on the last check Tuesday.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsEquitiesNewsGuidanceMarketsGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!