Ecolab 3Q Profit Jumps on Higher Sales
By Dean Seal
Ecolab's profit rose in the third quarter as sales were pushed higher by double-digit growth in its institutional and specialty business and its pest elimination division.
The water, hygiene and infection-prevention services company posted a profit of $404 million, or $1.41 a share, compared with $347.1 million, or $1.21 a share, in the same quarter a year ago.
Stripping out one-time items, adjusted earnings were $1.54 a share. Analysts surveyed by FactSet had been expecting $1.52 a share.
Sales rose 8% to $3.96 billion, below analyst projections for $4.01 billion, according to FactSet.
The company also cited strength in its industrial business and improvement in its healthcare and life sciences segment.
Chief Executive Christophe Beck said the strong results were driven by higher prices, accelerating volume trends and margin expansion.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
October 31, 2023 08:27 ET (12:27 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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