- Ecolab Inc ECL reported Revenue growth in Q1 FY23 of 9% year over year to $3.57 billion, beating the consensus of $3.48 billion.
- Global Industrial revenue increased 12%, Global Institutional & Specialty up 14%, Global Healthcare & Life Sciences grew 9% Y/Y in fixed currencies.
- Adjusted earnings per share of $0.88 beat analyst consensus of $0.86.
- SG&A expenses increased 8% year over year. Operating margin was 9.8% and operating income increased 38% to $351.6 million for the quarter.
- The Company held $419.4 million in cash and cash equivalents as of March 31, 2023.
- outlook: Ecolab expects Q2FY23 adjusted EPS of $1.15-$1.25 versus consensus of $1.18.
- Ecolab continues to expect quarterly adjusted EPS growth to accelerate toward its low double-digit historical performance.
- Price promotion: ECL shares are trading up 1.82% at $171.86 on the latest check Tuesday.
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