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- Ecolab Inc (NYSE:ECL) reported fourth-quarter FY22 sales growth of 9.1% year-on-year to $3.67 billion, marginally missing the consensus of $3.70 billion.
- Sales from Global Industrial rose 14%, Global Institutional & Specialty climbed 11%, Global Healthcare & Life Sciences grew 45% Y/Y in fixed currency.
- Adjusted EPS of $1.27 beat the analyst consensus of $1.25.
- Selling, general and administrative expenses rose 6% Y/Y. The operating margin was 10.9%, and operating income for the quarter rose 3% to $399.2 million.
- The company held $598.6 million in cash and equivalents as of Dec. 31, 2022.
- Ecolab has expanded its previously announced $80 million Europe cost savings program to also focus on improving the performance of Institutional and Healthcare in other regions, resulting in an estimated $175 million of total annualized pre-tax savings.
- Outlook: Ecolab sees Q1 FY23 adjusted EPS of $0.82 – $0.90 versus the consensus of $0.85.
- Ecolab expects to deliver performance that improves throughout 2023 despite a challenging macro environment.
- Price Action: ECL shares are trading higher by 5.39% at $155.86 on the last check Tuesday.
A Preview Of Blueprint Medicines’s Earnings
Blueprint Medicines (NASDAQ:BPMC) is set to give its latest quarterly earnings report on Wednesday, 2023-08-02. Here’s what investors…
