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- Ecolab Inc ECL reported first-quarter FY23 sales growth of 9% year-on-year to $3.57 billion, beating the consensus of $3.48 billion.
- Sales from Global Industrial rose 12%, Global Institutional & Specialty climbed 14%, Global Healthcare & Life Sciences grew 9% Y/Y in fixed currency.
- Adjusted EPS of $0.88 beat the analyst consensus of $0.86.
- Selling, general and administrative expenses rose 8% Y/Y. The operating margin was 9.8%, and operating income for the quarter rose 38% to $351.6 million.
- The company held $419.4 million in cash and equivalents as of March 31, 2023.
- Outlook: Ecolab sees Q2 FY23 adjusted EPS of $1.15 – $1.25 versus the consensus of $1.18.
- Ecolab continues to expect to deliver quarterly adjusted EPS growth that accelerates toward its low double-digit historical performance.
- Price Action: ECL shares are trading higher by 1.82% at $171.86 on the last check Tuesday.
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