Ecolab Flips to 2Q Profit as Sales Beat Expectations

By Allison Prang

Hygiene and infection prevention solutions company Ecolab Inc. reported a double-digit percentage rise in net sales and swung to a second-quarter profit.

The company's second-quarter net sales rose 18%, to $3.16 billion, from $2.69 billion a year ago. According to FactSet, analysts were expecting $3.11 billion.

Net income attributable to the company was $310.8 million, or $1.08 a share. For the year-ago period, the company's loss was $2.04 billion, or $6.98 a share. Adjusted earnings from continuing operations were $1.22 a share. Analysts were expecting $1.21 a share.

"We expect the U.S. recovery to continue, Europe to reopen as forecasted, the rest of the world to follow soon after, and a continued higher cost environment," Ecolab said. "We have implemented strong pricing actions in 2021 that remain ahead of input costs, and pricing will provide further coverage as it builds through the second half."

The company said it is still expecting earnings per share for the year to be higher than 2019 earnings per share from continuing operations not including the per-share Texas freeze effect.

Write to Allison Prang at [e-mail]

(END) Dow Jones Newswires

July 27, 2021 09:05 ET (13:05 GMT)

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