Ecolab, Inc. - ECL STOCK NEWS

PSSI has appointed Tim Mulhere, a former executive at Ecolab, as its new CEO effective April 24, 2023. Mulhere has over 20 years of experience at Ecolab, where he oversaw annual revenues exceeding $4 billion. In addition to this leadership change, PSSI has launched a new charitable fund with an initial commitment of $10 million aimed at supporting children’s well-being and addressing the issue of unauthorized minor workers. The company is also enhancing its compliance measures in response to a settlement with the U.S. Department of Labor regarding underage hiring practices, implementing strict identity verification and hiring protocols.

Ecolab Inc. has appointed Nick Alfano as executive vice president and president of the Global Industrial Group, effective immediately. This group, which generated nearly $7 billion in revenue in 2022, includes Nalco Water and Food & Beverage divisions. Alfano aims to enhance customer value and promote sustainability through resilient operations. With a career at Ecolab since 1996, he brings extensive experience from various roles, including leadership in the Food & Beverage business. Ecolab serves over 47,000 associates and is committed to advancing food safety and environmental sustainability, achieving annual sales of $14 billion.

Ecolab will conduct a live webcast of its first quarter earnings conference call on May 2, 2023, at 1:00 p.m. Eastern Time. A news release will precede the call, announcing the earnings results. This will include financial metrics and business performance details relevant to stakeholders. Ecolab, a leader in sustainability, achieves annual sales of $14 billion and operates in over 170 countries. The webcast can be accessed through their investor website, and a replay will be available afterward. Ecolab continues to provide vital solutions in water, hygiene, and infection prevention.

The board of directors of Ecolab (NYSE:ECL) has declared a quarterly cash dividend of $0.53 per share, scheduled for payment on April 17, 2023. Shareholders recorded by the close of business on March 21, 2023 will be eligible. This dividend marks Ecolab's commitment to returning value to its shareholders, having paid dividends for 86 consecutive years. With annual sales of $14 billion and a presence in over 170 countries, Ecolab continues to lead in sustainability, enhancing operational efficiencies across various industries including food and healthcare.

The National Restaurant Association Educational Foundation (NRAEF) is now accepting nominations for the 2023 Restaurants Advance Leadership Awards. Each winner will receive $10,000 and a $2,500 scholarship in their name. Award categories include: Leadership in Community Service, Leadership in Diversity, Equity and Inclusion (DEI), and the My Journey Leadership Award. The nomination deadline is March 17, 2023, with winners notified by April 15, 2023. This initiative highlights outstanding contributions in community service and individual journeys within the restaurant industry, emphasizing the importance of diversity and inclusion.

Ecolab reported a strong fourth quarter for 2022, with sales of $3.7 billion, a 9% increase from last year. Adjusted fixed currency sales rose by 12%, supported by growth in Industrial, Institutional & Specialty, and Healthcare segments. Operating income increased by 3%, with a significant 14% growth in adjusted fixed currency operating income. However, net income dropped 12% year-over-year. Despite challenges like high delivery costs and currency translation impacts of $0.10 on EPS, Ecolab expects a positive performance in 2023, forecasting quarterly adjusted earnings per share growth that accelerates towards low double digits.