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Ecolab earnings rise on margin gains
10:44 AM MDT | April 30, 2013 | Vincent Valk
Ecolab’s first-quarter net income rose 221% year-on-year (YOY), to $159.6 million, on sales up 2%, to $2.87 billion. Excluding special charges—which had a major impact in the prior-year quarter—adjusted net income was up 20%, to $181 million, or 60 cts/share. Earnings were slightly ahead of analysts’ consensus of 59 cts/share, as reported by Thomson Reuters (New York). Margin gains drove the rise in earnings, Ecolab says, along with lower interest expenses and tax rates. “The first quarter earnings reached the top end of our...
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