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ECL Eclipse Vct

80.00
0.00 (0.00%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Eclipse Vct LSE:ECL London Ordinary Share GB00B00MKB60 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 80.00 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Ecolab 3Q Earnings Rise 15% On Higher Margins, Fewer Charges

27/10/2009 1:37pm

Dow Jones News


Eclipse Vct (LSE:ECL)
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Ecolab Inc. (ECL) third-quarter earnings rose 15% as the cleaning and pest-control services company posted fewer charges and higher margins, more than offsetting a revenue decline.

The company has said its markets continue to suffer despite signs of recovery elsewhere in the economy. However, Ecolab said it isn't relying on recovery to post strong growth, saying it is working aggressively to gain market share and keep costs under control.

Ecolab posted a profit of $145 million, or 60 cents a share, from $126.2 million, or 50 cents per share, a year earlier. Excluding restructuring costs, earnings rose to 61 cents from 55 cents. In July, the company predicted 58 cents to 61 cents a share.

Revenue decreased 4.9% to $1.55 billion. Analysts surveyed by Thomson Reuters recently anticipated $1.56 billion.

Gross margin rose to 50.6% from 48.7%.

Revenue for Ecolab's core business, U.S. cleaning and sanitizing, was down 0.3% while earnings climbed 17%. Other U.S. revenue fell 5.7%. International revenue jumped 1.2% on a fixed-currency basis.

Looking ahead, the company said earnings in the current quarter will be between 54 cents to 57 cents a share. Analysts see 57 cents a share. Ecolab estimated gross margin between 50% to 51%.

Shares in Ecolab, which also narrowed its 2009 earnings target, closed Monday at $45.93 and weren't active premarket. Having hit a four-year low in March, the stock is up 31% for the year.

-By Joan E. Solsman and John Kell, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com

 
 

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