- Ecolab Inc (NYSE: NYSE:ECL) reported first-quarter FY22 sales growth of 13% year-on-year to $3.27 billion, beating the consensus of $3.20 billion.
- Sales from Global Industrial rose 12%, Global Institutional & Specialty climbed 19%, Global Healthcare & Life Sciences grew 29% Y/Y in fixed currency.
- Adjusted EPS of $0.82 was in-line with the analyst consensus.
- Selling, general and administrative expenses rose 6% Y/Y. The operating margin was 7.8%, and operating income for the quarter fell 14% to $254.5 million.
- The company held $99.4 million in cash and equivalents as of March 31, 2022.
- "While we expect the impact of substantial raw material and cost inflation to increase further in the second quarter and remain high for the balance of the year, we are also very pleased with our progress on pricing, and now expect it to be in the 6% to 7% range for the balance of the year," said CEO Christophe Beck.
- Outlook: ECL expects Q2 adjusted EPS approaching last year's $1.22.
- Further, Ecolab expects to deliver low-teens growth in adjusted EPS for FY22. The company expects current pricing actions to accelerate earnings growth through the second half.
- Price Action: ECL shares are trading lower by 3.14% at $170.10 on the last check Tuesday.
Read at Benzinga