Ecolab Inc. (ECL) Reports Strong Sales
Strong sales boosted Ecolab's third-quarter profits by 3.6 percent, the company announced Monday.
St. Paul-based Ecolab Inc. (NYSE: ECL - News), a provider of cleaning and pest control services to the hospitality industry, said its sales increased 11 percent to $1.4 billion, up from $1.2 billion a year earlier.
The company also said its net income increased 3 percent to a record $114 million, up from $110.3 million a year ago. The company also reported earning 46 cents per share, up from 43 cents per share a year earlier.
The company's third-quarter results included a tax benefit and a charge for an arbitration settlement. Excluding these items, diluted earnings per share were 49 cents.
Analysts polled by Thomson Financial expected a profit of 49 cents per share on revenue of $1.38 billion.
Ecolab said its U. S. cleaning & sanitizing division saw a 13 percent rise in operating income to $111 million. Sales in its U.S. Other Services division increased 10 percent to $119 million, led by strong gains in its pest-elimination business.
Sales of Ecolab's International operations, when measured at fixed currency rates, rose 6 percent to $651 million. The company detailed that the growth was led by double-digit sales gains in Latin America and improved growth in Asia Pacific.
The company also said it predicts fourth-quarter profits between 39 cents and 40 cents per share, excluding special charges and gains.
Analysts polled by Thomson Financial expect a fourth-quarter profit of 40 cents per share.
Ecolab also raised the low end of its full-year profit guidance, saying it expects profit between $1.65 and $1.66 per share, excluding charges, compared with previous guidance of $1.64 to $1.66 per share.
Analysts polled by Thomson Financial expect full-year profit of $1.66 per share.
Published October 22, 2007 by the Minneapolis / St. Paul Business Journal
St. Paul-based Ecolab Inc. (NYSE: ECL - News), a provider of cleaning and pest control services to the hospitality industry, said its sales increased 11 percent to $1.4 billion, up from $1.2 billion a year earlier.
The company also said its net income increased 3 percent to a record $114 million, up from $110.3 million a year ago. The company also reported earning 46 cents per share, up from 43 cents per share a year earlier.
The company's third-quarter results included a tax benefit and a charge for an arbitration settlement. Excluding these items, diluted earnings per share were 49 cents.
Analysts polled by Thomson Financial expected a profit of 49 cents per share on revenue of $1.38 billion.
Ecolab said its U. S. cleaning & sanitizing division saw a 13 percent rise in operating income to $111 million. Sales in its U.S. Other Services division increased 10 percent to $119 million, led by strong gains in its pest-elimination business.
Sales of Ecolab's International operations, when measured at fixed currency rates, rose 6 percent to $651 million. The company detailed that the growth was led by double-digit sales gains in Latin America and improved growth in Asia Pacific.
The company also said it predicts fourth-quarter profits between 39 cents and 40 cents per share, excluding special charges and gains.
Analysts polled by Thomson Financial expect a fourth-quarter profit of 40 cents per share.
Ecolab also raised the low end of its full-year profit guidance, saying it expects profit between $1.65 and $1.66 per share, excluding charges, compared with previous guidance of $1.64 to $1.66 per share.
Analysts polled by Thomson Financial expect full-year profit of $1.66 per share.
Published October 22, 2007 by the Minneapolis / St. Paul Business Journal
Labels: ECL, Ecolab Inc.
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