- Ecolab Inc (NYSE:ECL) reported second-quarter FY22 sales growth of 13% year-on-year to $3.58 billion, beating the consensus of $3.51 billion.
- Sales from Global Industrial rose 13%, Global Institutional & Specialty climbed 18%, Global Healthcare & Life Sciences grew 37% Y/Y in fixed currency.
- Adjusted EPS of $1.10 beat the analyst consensus of $1.09.
- Selling, general and administrative expenses rose 10% Y/Y. The operating margin was 11.9%, and operating income for the quarter fell 5% to $425.8 million.
- The company held $124.9 million in cash and equivalents as of June 30, 2022.
- Ecolab expects inflation to remain higher for longer and currency translation impacts to become more challenging.
- ECL expects 2H overall performance to improve sequentially, though increasing currency translation headwinds will impact full-year earnings.
- The company expects Q4 to show accelerating earnings growth, resulting in modest gains in full-year 2022 adjusted EPS.
- Price Action: ECL shares are trading lower by 3.06% at $157.92 on the last check Tuesday.
Extreme Networks Announced CFO Rémi Thomas To Leave; Cristina Tate Named Interim CFO
Extreme Networks, Inc. (Nasdaq: EXTR), a leader in cloud networking, today announced that its CFO, Rémi Thomas, has accepted a position at a privately held software company and will resign from his position at Extreme. Thomas will remain with Extreme until February 16, 2023.
