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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