Ecolab Raises 2018 Adj. EPS Forecast - Quick Facts

(RTTNews) - Ecolab (ECL) raised its forecast for full year 2018 adjusted diluted earnings per share to the $5.30 to $5.50 range, representing a 13% to 18% increase over 2017. The prior forecast range was $5.25 to $5.45. Ecolab expects second-quarter adjusted earnings per share in the $1.23 to $1.29 range, rising 10% to 15% compared with adjusted diluted earnings per share of $1.12 a year ago.

First-quarter adjusted EPS was $0.91, up 14%, excluding special gains and charges and discrete tax items. Reported sales were up 10% and fixed currency sales increased 6%. Acquisition and divestiture adjusted fixed currency sales increased 6% when compared to the prior year.

Douglas Baker, Jr., Ecolab's CEO said, "We are off to a strong start for the year, as we showed continued good sales momentum in the first quarter across all segments led by new business wins, new products and pricing. These solid sales gains, along with cost efficiencies, offset higher delivered product costs and systems investments, and with a lower tax rate and interest expense, yielded the 14% adjusted earnings per share growth. We remain confident in our outlook for a strong year in 2018. We continue to expect improved sales and earnings performances in all our business segments to yield double-digit adjusted earnings per share growth through the balance of the year."