By Allison Prang
Ecolab Inc.'s first-quarter earnings took a hit from the Texas freeze and the company logged lower net sales from a year earlier.
Ecolab reported profit attributable to the company of $193.6 million, or 67 cents a share. The comparable quarter a year ago profit was $283.4 million, or 97 cents a share.
Adjusted earnings from continuing operations were 81 cents a share
The company said the Texas freeze is estimated to have hurt earnings by 10 cents a share for the quarter.
"This was a short-term event that primarily impacted our industrial segment, as raw materials supply was sharply reduced and certain customer operations were constrained," Chief Executive and President Christophe Beck said in prepared remarks.
Net sales were $2.89 billion, compared with $3.02 billion a year earlier.
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(END) Dow Jones Newswires
April 27, 2021 09:04 ET (13:04 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.