Ecolab Posts Higher 4Q Revenue

By Will Feuer

Ecolab posted higher sales in the fourth quarter, lifted by increased prices and new business, especially in its institutional and specialty division.

The water, hygiene and infection-prevention services company had a fourth-quarter profit of $405.2 million, or $1.41 a share, up from $264.4 million, or 93 cents a share, in the same quarter a year earlier.

Stripping out one-time items, adjusted earnings were $1.55 a share. Analysts surveyed by FactSet expected $1.54 a share.

Sales rose 7% to $3.94 billion. Analysts expected $3.75 billion.

Constant-currency sales in its industrial business rose 3%, while the same figure rose 13% in the Institutional and Specialty division, lifted by higher prices and new business.

For 2024, Ecolab is targeting adjusted earnings of $6.10 a share to $6.50 a share. Analysts expected $6.14 a share. The company said its guidance assumes soft but stable demand and falling product costs.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

February 13, 2024 08:32 ET (13:32 GMT)

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