Ecolab (ECL) Reports In-Line Q2 EPS

Ecolab (NYSE: ECL) reported Q2 EPS of $1.08, in-line with the analyst estimate of $1.08. Revenue for the quarter came in at $3.39 billion versus the consensus estimate of $3.47 billion.

EO comment

Commenting on the quarter, Douglas M. Baker, Jr., Ecolab chairman and chief executive officer said, “We delivered a solid quarter as our focus on innovative products and effective on-site service drove better results and improved value for customers, enabling us to once again outpace generally slower economic trends and substantial currency headwinds.

“We continue to expect strong mid-teens earnings per share growth in 2015 before the impact of currency as we significantly outperform our markets. We expect our Global Institutional, Global Industrial and Other segments to deliver mid-single digit fixed currency sales growth while also increasing their margins as they continue to leverage their growth and margin investments. These strong performances should more than offset flattish income results in our Energy segment, which itself is outperforming very challenging industry trends and is positioning well for a return to growth in 2016.

“We will continue driving our successful model for growth, focusing on new accounts and increased solutions, enhancing our premium service offering and improving our cost efficiency, while delivering our committed synergies. We will also continue to make the right investments in our business to build growth for the future. While the balance of 2015 presents us with continued challenging global economic conditions, and currency and energy markets remain dynamic, our full year adjusted earnings per share forecast remains centered in the $4.45 to $4.60 range. We remain committed to driving attractive sales and adjusted earnings per share growth through the remainder of 2015 as well as continuing to make the right investments to deliver superior shareholder returns for years to come.”

Ecolab sees FY2015 EPS of $4.45-$4.60, versus the consensus of $4.52.

For earnings history and earnings-related data on Ecolab (ECL) click here.

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