US Ecolab's Q2 net income rises to $213.1m, sales up 13%

30 July 2013 14:13  [Source: ICIS news]

LONDON (ICIS)--Ecolab’s 2013 second-quarter net income jumped 16% year on year to $213.1m (€159.8m), as sales rose 13%, the US-based water and energy services and water chemicals firm said on Tuesday.

Sales in the second quarter increased to $3.34bn from $2.96bn in the same period of 2012, while operating income rose 8% year on year to $352.3m.

Ecolab said its second-quarter earnings improved because of better-than-expected results from recently acquired Champion Technologies, continued margin gains and improving underlying sales growth, as well as a lower tax rate.

Douglas Baker Jr, Ecolab’s chairman and CEO, said: “We successfully strengthened our underlying business momentum through good new business gains, effective deployment of new programme launches which enabled us to further help our customers meet their operating and sustainability goals, and continued delivery of committed synergies.

“In addition, our newly acquired Champion business performed above our expectations, which added to an already strong performance."

Ecolab has increased its 2013 full-year adjusted earnings per share (EPS) forecast to the $3.48-3.56 range, representing a 17-19% increase over the prior year. Ecolab previously forecast 2013 EPS in a $3.45-3.55 range.

“In order to grow, we know we must continue to generate new business with both new and existing customers. The only way to reliably do that is to continue to increase our capabilities as a supplier in ways that make a difference for our customers,” said Baker.

“This means continuing our focus on developing and deploying technology that matters, continuing to develop our ability to meet our customer’s service needs around the world, continuing to build our team and continuing to streamline our operations to be more effective, efficient and responsive.”

($1 = €0.75)

By: Franco Capaldo
+44 (0)20 8652 3214

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