Ecolab reports Q2 adjusted EPS $1.24, consensus $1.21

Reports Q2 revenue $3.85B, consensus $3.96B. Christophe Beck, Ecolab’s chairman and chief executive officer, said, “The second quarter was one of great momentum for Ecolab, reflecting the strategic decisions made over the past few years and the fundamental work done over the last several quarters. Our team’s strong execution resulted in continued robust organic sales growth, operating income margin expansion, and 13% growth in adjusted diluted earnings per share. As anticipated, the year-over-year rate of price increases started to ease, entirely due to comparisons with the accelerated pricing actions taken last year. Pricing in the quarter remained strong, sustained by carryover from last year and further new pricing. Overall volume remained steady, and turned modestly positive excluding Europe, as our team effectively offset softer macro demand with strong new business wins, leveraging our proven ‘circle the customer, circle the globe’ growth strategy. This robust topline performance, along with productivity initiatives and easing inflationary headwinds, drove 21% organic operating income growth, with double-digit growth across most businesses and geographies.”