Ecolab Flips to 2Q Profit as Sales Beat Expectations
July 27 2021 - 9:16AM
Dow Jones News
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 allison.prang@wsj.com
(END) Dow Jones Newswires
July 27, 2021 09:05 ET (13:05 GMT)
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