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 $3,998.5 million, a 1% increase compared to $3,958.1 million in the same quarter last year. This growth is primarily driven by a 2% increase in non-GAAP fixed currency sales, offset by a negative impact from foreign currency translation.
Operating income increased by 85% to $1,044.8 million, compared to $566.0 million last year. This increase is primarily due to special gains of $365.3 million from the sale of the global surgical solutions business, which is partially offset by restructuring charges.
Net income attributable to Ecolab increased by 82% to $736.5 million, compared to $404.0 million in the same quarter last year. This increase is primarily due to the significant increase in operating income.