Citi Upgrades Ecolab Inc. (ECL) to Buy
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Ecolab Delivers Continued Strong Performance in the Second Quarter; Reported Diluted EPS $1.71; Adjusted Diluted EPS $1.68, +35%; Increased 2024 Adjusted Diluted EPS Outlook: $6.50 - $6.70, +25% - 29%
July 30, 2024 8:00 AM EDTST. PAUL, Minn.--(BUSINESS WIRE)--
Ecolab Inc. (NYSE: ECL):
SECOND QUARTER HIGHLIGHTS
Reported sales $4.0 billion, +3% versus last year, including a 1% headwind from unfavorable foreign currency exchange. Organic sales +4% as Institutional & Specialty segment sales growth normalized to a strong +7% as expected. The segment lapped last years very strong pricing delivery. Performance across the Pest Elimination, Industrial and Healthcare & Life Sciences segments all improved. Reported operating income margin 16.5%. Organic operating income margin 17.0%, +360 bps as lower supply chain costs, value pricing,... More