2 May 2017
DETAILS
First quarter 2017
reported net income attributable to Ecolab increased 10%
and
reported diluted earnings per share increased 12%.
Excluding special gains and charges and discrete tax items,
adjusted net income attributable to Ecolab increased 2%
and adjusted diluted earnings per share rose 4%
when compared against first quarter 2016.
Currency translation had an insignificant impact on
first quarter 2017 adjusted diluted earnings per share.
(Unaudited, $ Million)
Net income attributable to Ecolab 253.5 ,+10 %
Operating income 373.3
Net Sale $3,161.6 , +2%
Douglas M. Baker, Jr.,
Ecolab’s Chairman and Chief Executive Officer
“The first quarter was a mixed start
to what will be a good year.
Earnings were in line with our expectations
and Energy saw much better results.
Sales improved in our Institutional, Industrial
and Other segments, though not as much as expected,
particularly in Institutional.
Profits benefited from
new product innovation and cost savings,
but were partially offset by higher than forecast
delivered product costs (which included a previously
discussed $0.04 per share unfavorable currency hedge
year-on-year comparison, representing
a 5 percentage point negative impact to EPS growth).
“We remain confident in our full year outlook
and expect better top and bottom line growth
over the balance of the year.
Our growth investments are driving business wins,
we are implementing appropriate pricing
to offset the higher delivered product costs
and we are driving better cost efficiencies.
We look for improving sales momentum
and margin improvement to enable us
to deliver strong earnings growth in 2017
and good returns to shareholders
this year and for the years ahead.”
Ecolab Inc.
Michael J. Monahan, 651-250-2809
or
Andrew C. Hedberg, 651-250-2185
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