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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Ecolab Inc | NYSE:ECL | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.43 | -0.18% | 234.57 | 235.10 | 234.0425 | 234.87 | 146,751 | 16:41:26 |
From May 2022 to May 2024
By Rob Curran
Ecolab said first-quarter earnings rose 36% as demand for laboratory services heated up, offsetting the impact of inflation.
The St. Paul, Minn., provider of water-treatment and hygiene goods and services said net income for the quarter ended March 31 rose to $233.4 million, or 82 cents a share, from $171.9 million, or 60 cents a share, a year earlier. Stripping out certain one-off items, Ecolab logged adjusted first-quarter earnings of 88 cents a share, surpassing the mean Wall Street estimate of 86 cents a share, as tallied by FactSet.
First-quarter sales rose 9% to $3.57 billion, topping the average Wall Street peg of $3.48 billion.
"While the macroeconomic headwinds and inflationary pressures are expected to persist," the company's strategy should drive "robust sales growth," said Chairman and Chief Executive Christophe Beck, in a statement.
Other providers of laboratory services, including IDEXX Laboratories, have also reported strong revenue growth.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
May 02, 2023 08:35 ET (12:35 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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