Ecolab (NYSE: ECL) reported Q1 EPS of $0.80, $0.01 worse than the analyst estimate of $0.81. Revenue for the quarter came in at $3.3 billion versus the consensus estimate of $3.36 billion.

Ecolab sees FY2015 EPS of $4.45-$4.60, versus prior guidance of $4.50-$4.70 and the consensus of $4.60.

Commenting on the quarter, Douglas M. Baker, Jr., Ecolab’s chairman and chief executive officer, said, “We had excellent execution in the quarter and our business performed largely as expected. Our Institutional and Other segments improved over their respective fourth quarter and 2014 growth rates, benefiting from great execution, improved markets and lower raw material costs. Our Industrial segment also improved its growth in spite of soft trends among our heavy industrial customers. These strong performances more than offset challenges in our Energy segment. The energy market headwinds led to a faster than anticipated slowdown and price pressure in our Energy segment. Energy delivered sales and income in line with last year, as Champion synergies and share gains offset these market challenges. Net, our good business performance, plus moderate share buy backs, enabled us to offset a combined 8% currency and pension headwind in the quarter and still deliver 8% adjusted EPS growth.

“Looking forward, we expect to once again show the strength of our balanced business portfolio as we leverage our recurring business model and competitive advantages, as well as sharpen our cost efficiencies. While food service and light industrial markets continue to show improving trends, energy markets contracted faster than expected and currency headwinds have increased. We have adjusted our earnings outlook for the year and continue to look for strong earnings growth in 2015. We remain focused on driving sales gains and product innovation in all our businesses, capturing cost savings and synergies, and managing effectively through the crosswinds of lower oil prices and unfavorable currency impacts. With substantial growth opportunities throughout our businesses, our compelling value proposition to customers and our strong execution discipline, we are committed to delivering superior results for our customers and shareholders in 2015, and will continue to invest in the right opportunities to drive future growth and returns.”

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