Sector: Materials|Industry: Specialty Chemicals|Market Cap: $67.30B|Employees: 48K
Ecolab Inc. is a global sustainability leader providing water, hygiene, and infection prevention solutions and services. The company's core business model revolves around delivering comprehensive, science-based solutions, data-driven insights, and world-class service to improve operational efficiencies and sustainability for customers in the food, healthcare, life sciences, hospitality, and industrial markets. Ecolab has a significant geographic presence, selling to customers in more than 170 countries.
Net sales reached $3,985.8 million, a 3% increase compared to $3,852.1 million in the same quarter last year. This growth was primarily driven by a 2% increase in product and equipment sales and a 9% increase in service and lease sales.
Operating income increased by 36% to $656.9 million, up from $484.7 million in the prior year's quarter. This improvement was driven by increased sales and reduced costs.
Net income attributable to Ecolab reached $490.9 million, a 49% increase compared to $329.7 million in the same quarter last year. This increase is due to improved operating income and lower tax expenses.