Ecolab Sees 4Q Earnings Growing Double Digits, But Not as Strongly as 3Q
October 26 2021 - 9:36AM
Dow Jones News
By Dave Sebastian
Ecolab Inc. expects earnings to grow double digits in the fourth
quarter, though not as strongly as the third quarter, as the
company absorbs higher costs, President and Chief Executive
Christophe Beck said.
The water, hygiene and infection prevention services company
expects cost inflation to increase fourth-quarter costs by nearly
20 cents a share compared to what it expected a few months ago, Mr.
Beck said Tuesday.
For the full year, the company said it expects cost increases to
hurt results by about 90 cents a share, most of which it has
mitigated, Mr. Beck said. The company said that includes
unfavorable effects of 15 cents a share from the Texas freeze and 7
cents a share from Hurricane Ida, costs that the company has
mitigated through pricing and productivity gains.
"We continue to expect the full year 2021 to show a strong
increase over 2020, more than offsetting the substantial delivered
product and other cost increases," Mr. Beck said.
The company said it expects continued, if uneven, recovery in
the U.S. and Europe, with the rest of the world following.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 26, 2021 09:21 ET (13:21 GMT)
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