ecolab inc (ECL) Key Developments
Ecolab Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Revised Earnings Guidance for the Full Year 2015; Provides Earnings Guidance for the Second Quarter of 2015
Apr 28 15
Ecolab Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales were $3,297.6 million against $3,336.6 million a year ago. Operating income was $387.7 million against $350.9 million a year ago. Net income attributable to the company was $233.4 million against $191 million a year ago. Diluted earnings per share were $0.77 against $0.62 a year ago. Adjusted operating income was $396.1 million against $386.5 million a year ago. Adjusted net income attributable to the company was $241.3 million against $228.2 million a year ago. Adjusted diluted earnings per share were $0.80 against $0.74 a year ago. Income before income taxes was $325.2 million against $285.8 million a year ago.
The company revised its forecast and now expects 2015 full-year adjusted earnings per share in the $4.45 to $4.60 range, representing a 6% to 10% increase over the prior year. Ecolab’s previous earnings forecast was $4.50 to $4.70. Adjusted gross margin, excluding special gains and charges of 47% - 48%; interest expense, net of $240 million to $250 million; and adjusted tax rate approximately 27%.
The company expects second quarter adjusted earnings per share in the $1.05 to $1.11 range, representing a 2% to 8% increase versus a very strong year-ago period, when adjusted earnings per share rose 20% to $1.03. Currency translation and pension are expected to have a combined negative impact of $0.10 per share, or approximately 10% of earnings growth. Adjusted gross margin, excluding special gains and charges of approximately 47%; interest expense, net of approximately $60 million; and adjusted tax rate of 27% to 28%.
Ecolab Inc. Purchases 17-Story Office Building in Downtown St. Paul, Minnesota
Apr 17 15
Ecolab Inc. announced that it is purchasing a 17-story office building in downtown St. Paul, Minnesota and will consolidate its local staff and operations there by the end of 2018. The company said it will relocate its headquarters and staff from three buildings elsewhere in downtown St. Paul to the North Tower. The company plans to begin that process later this year.
Ecolab Plans to Relocate 1,500 Employees by the End of 2018
Apr 15 15
Ecolab announced that the company plans to relocate all 1,500 of its downtown employees into the 17-story building by the end of 2018. The company agreed to buy the pyramid-topped Travelers tower just a couple of blocks west of its current headquarters on Wabasha Street. Terms of the sale, which is expected to close during the third quarter of 2015, were not disclosed.
Ecolab Inc. Presents at Robert W. Baird & Co. Inc. 2015 Growth Stock Conference, May-05-2015 11:30 AM
Apr 6 15
Ecolab Inc. Presents at Robert W. Baird & Co. Inc. 2015 Growth Stock Conference, May-05-2015 11:30 AM. Venue: Four Seasons Hotel, Chicago, Illinois, United States. Speakers: Douglas M. Baker, Chairman, Chief Executive Officer and Member of Safety, Health & Environment Committee, Michael J. Monahan, Senior Vice President of External Relations.
Ecolab Inc. to Report Q1, 2015 Results on Apr 28, 2015
Apr 1 15
Ecolab Inc. announced that they will report Q1, 2015 results at 1:00 PM, US Eastern Standard Time on Apr 28, 2015