Ecolab, Inc. - ECL STOCK NEWS

The board of Ecolab has appointed Eric Green as an independent director, effective December 8, 2022. He will join the Compensation and Human Capital Management Committee and the Governance Committee. Green brings nearly 30 years of life sciences experience, currently serving as CEO of West Pharmaceutical Services. The appointment aligns with Ecolab's strategy for board composition, aiming to enhance oversight on growth initiatives. Ecolab, a global leader in water, hygiene, and infection prevention, reported annual sales of $13 billion and operates in over 170 countries.

The board of directors of Ecolab has declared a 4% increase in its quarterly cash dividend to $0.53 per common share, set to be paid on January 17, 2023. This marks the company’s 31^st consecutive annual dividend increase, with a new annualized dividend of $2.12 per share. Ecolab's CFO noted this decision reflects a strong financial position and the company’s commitment to returning to historical payout levels. The company has maintained cash dividends for 86 consecutive years.

Ecolab has launched its Ecolab Water for Climate program to assist companies in addressing climate challenges, focusing on improved water management to enhance sustainability without hindering growth. The initiative aims to cut water use by up to 44%, energy consumption by 22%, and greenhouse gas emissions by 12%. A survey reveals that 45% of consumers feel companies are underperforming in climate action, highlighting the urgency for corporate accountability. The program will be available globally in early 2023, targeting sectors like Food & Beverage and Heavy Industry.

Ecolab reported third quarter 2022 sales of $3.7 billion, a 10% increase from last year. Adjusted diluted EPS stood at $1.30, down 6% year-over-year due to unfavorable currency translation and higher interest costs. Operating income rose 4% to $483 million, while fixed currency sales increased 16%. The company announced an $80 million European cost savings program amid worsening macroeconomic conditions. Ecolab anticipates a moderated earnings growth trajectory while focusing on supply security and productivity enhancements.

Ecolab (NYSE:ECL) and Siemens have announced a strategic partnership aimed at enhancing sustainability and productivity for industrial customers through Climate Intelligence, a new solution utilizing ECOLAB3D and Siemens gPROMS. This innovation allows businesses to model water and energy systems to optimize conservation and reduce greenhouse gas emissions. Early trials indicate substantial results, including up to 1 million cubic meters of water savings and a reduction of 38,000 metric tons of CO2 emissions annually. Ecolab aims to help clients become carbon neutral by 2030.

Ecolab Inc. has announced the promotion of Darrell R. Brown to president and chief operating officer, effective October 1, 2022. Brown, who has been with Ecolab since 2002, previously served as executive vice president and president of Global Industrial. Chairman and CEO Christophe Beck emphasized that this management enhancement aims to maximize future growth opportunities and reflects the strength of Ecolab's leadership team. Ecolab, a global leader in water, hygiene, and infection prevention solutions, reported annual sales of $13 billion and employs over 47,000 associates.

Ecolab will host a live webcast on November 1, 2022, at 1:00 p.m. Eastern Time to discuss its third quarter earnings for 2022. A news release detailing the results will be available before market open on the same day. The call will last approximately one hour, and the webcast can be accessed through Ecolab's investor page. As a global leader in water, hygiene, and infection prevention solutions, Ecolab serves nearly three million customer locations with annual sales of $13 billion.