Welcome to our dedicated page for Ecolab news (Ticker: ECL), a resource for investors and traders seeking the latest updates and insights on Ecolab stock.
Ecolab, Inc. (NYSE: ECL) is a global leader in water, hygiene, and energy technologies and services, dedicated to protecting people and vital resources. Operating in over 170 countries, Ecolab offers comprehensive solutions that promote safe food, maintain clean environments, optimize water and energy use, and improve operational efficiencies for customers in diverse industries, including industrial manufacturing, hospitality, healthcare, and life sciences.
Core Business and Offerings:
- Cleaning and Sanitation: Ecolab produces a wide range of cleaning and sanitation products, including dishwashing and laundry systems, pest control, and infection control products. These solutions are designed to ensure health and safety across various sectors.
- Water Management: Ecolab provides customized water management solutions aimed at optimizing water use and ensuring sustainability in industrial processes.
- Energy Services: Ecolab offers services that focus on optimizing energy use, thereby reducing costs and environmental impact for clients.
In 2013, Ecolab reported sales of $13 billion, supported by a robust workforce of 45,000 associates. The company’s stronghold in the US market is complemented by its growing presence internationally.
Recent Achievements and Partnerships:
- Maxx Synbiotic Cleaning Range: In collaboration with HeiQ Chrisal, Ecolab has introduced the Maxx Synbiotic cleaning range in Europe. This revolutionary product harnesses the power of pre- and probiotics to offer microscopic-level cleaning, efficient odor reduction, and long-lasting efficacy.
For the latest updates and more information, visit www.ecolab.com or follow Ecolab on Twitter and Facebook.
Ecolab Inc. has closed the sale of its global surgical solutions business to Medline for approximately $950 million in cash. The company plans to repurchase up to $500 million of its stock during the second half of 2024. Ecolab will continue serving hospitals through its infection prevention and instrument reprocessing businesses.
The sale proceeds will enhance Ecolab's ability to invest in growth opportunities and return capital to shareholders. The company expects to repurchase shares in the open market, through privately negotiated transactions, and in accordance with Rule 10b5-1. As of June 30, 2024, Ecolab had approximately 285 million shares outstanding.
Ecolab (ECL) reported strong Q2 2024 results with sales of $4.0 billion, up 3% year-over-year. Organic sales grew 4%, driven by a 7% increase in the Institutional & Specialty segment. Adjusted diluted EPS rose 35% to $1.68. The company increased its full-year 2024 adjusted EPS guidance to $6.50-$6.70, representing 25-29% growth.
Key highlights include:
- Operating income margin expanded 360 bps to 17.0% on an organic basis
- Free cash flow increased to $414 million
- Launched 'One Ecolab' initiative to drive growth and operational efficiencies
- Expects Q3 2024 adjusted EPS of $1.75-$1.85, up 14-20% year-over-year
Ecolab continues to outperform soft macroeconomic trends through market share gains, innovation, and operational improvements.
Ecolab will host a live webcast to discuss its Q2 2024 earnings on July 30, 2024. The webcast will begin at 1:00 p.m. Eastern Time and last for one hour. A news release containing the Q2 results will be issued before the market opens on the same day. The webcast can be accessed at www.ecolab.com/investor, and a replay along with supplemental data will be available on the site.
Ecolab, in partnership with Repligen , announced the commercial launch of DurA Cycle Affinity Resin, designed for large-scale purification in biologic manufacturing. This product, launched at BIO 2024 in San Diego, targets efficient monoclonal antibody production, reducing costs for biologic drug developers. The launch reflects Ecolab's ongoing commitment to bioprocessing innovations, following two other resins launched in the past eighteen months. The partnership aims to address complex challenges in biologic manufacturing and is bolstered by Ecolab's investment in a new production facility in Landenberg, PA, complementing its UK-based facility.
Ecolab will webcast a presentation by its Chairman and CEO, Christophe Beck, at the William Blair Growth Stock Conference on June 4, 2024. The event will start at 11:40 a.m. Eastern Time and will last for about 30 minutes. This webcast will be accessible via Ecolab's investor website, with a replay available until June 28, 2024.
Ecolab has released its 2023 Growth & Impact Report, highlighting its economic, environmental, social, and governance achievements. The report details significant progress toward Ecolab's 2030 Positive Impact goals. Key milestones in 2023 include conserving 226 billion gallons of water, providing safe food to 1.4 billion people, and avoiding 3.8 million metric tons of greenhouse gas emissions. Ecolab also reached 100% renewable electricity in its European operations and advanced its electric vehicle conversion efforts in North America. Additional achievements include AWS certifications in Monterrey and Nanjing, donating $18.5 million to global communities, and launching the California Water Resilience Initiative. These accomplishments underscore Ecolab's mission to integrate science-based solutions, enhance business health, and drive sustainability.
Ecolab and HeiQ Chrisal collaborate to launch Maxx Synbiotic cleaning products at Interclean in Amsterdam, introducing advanced synbiotic cleaning technology to the European market. The products deliver immediate, microscopic-level cleaning, efficient odor reduction, and support for a well-balanced microbiome on surfaces. HeiQ's technology has been validated in scientific studies, offering a promising future for the cleaning industry.
Ecolab Inc. announced the election of twelve director nominees for a one-year term, approval of executive officers' compensation, and ratification of an accounting firm at its annual meeting. A stockholder proposal on an independent board chair policy was not approved. The final vote tabulation will be reported to the SEC.
Ecolab Inc. announced a regular quarterly cash dividend of $0.57 per common share, to be paid on July 15, 2024, to shareholders of record on June 18, 2024. This marks the 87th consecutive year of cash dividends being paid on Ecolab's common stock.
Ecolab Inc. reported very strong first-quarter performance with diluted EPS at $1.43 and adjusted diluted EPS at $1.34, a 52% increase. Sales grew by 5%, organic sales by 5%, and operating income margin by 13.8% to 14.7%. Ecolab has agreed to sell its global surgical solutions business for $950 million. The outlook for 2024 includes an adjusted diluted EPS range of $6.40 - $6.70, a 23% - 29% increase.
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