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Ecolab's Q2 Sales Rise 7%



Published July 29, 2014
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Ecolab's reported sales rose 7% to a record $3.6 billion in the second quarter of 2014. Fixed currency sales rose 8%; acquisition adjusted fixed currency sales rose 5%. For the six months, sales rose 11% to $6.9 billion. Operating income was up 8% to more than $281 million.

"Record second quarter results were driven by solid sales gains and margin expansion that once again reflected the strength of our business model and our continued growth focus," said Douglas M. Baker Jr., chairman and chief executive officer, Ecolab. "Looking to the balance of the year, we expect to outperform market trends as we continue to focus on strong customer relationships, industry-leading innovation, and delivering unmatched personalized service through our outstanding global team. We believe our solid first half momentum coupled with increasing global needs for our comprehensive solutions will drive accelerated second half sales and full-year upper-teens adjusted earnings per share growth this year as well as superior growth for years to come."

Second quarter 2014 sales for the Global Industrial segment, when measured at fixed currency rates, rose 3% to $1.2 billion, led by Water. Fixed currency operating income increased 8% to $162 million compared with the year ago period. Regionally, Latin America and Asia Pacific enjoyed good sales growth, with modest gains in both North America and EMEA. When measured at public currency rates, Global Industrial sales were $1.2 billion and operating income was $163 million.

Second quarter 2014 sales for the Global Institutional segment, when measured at fixed currency rates, rose 3% to $1.0 billion, led by strong Specialty sales growth. Fixed currency operating income increased 3% to $200 million compared with last year. Sales for the segment showed good growth in Latin America, North America, and Asia Pacific, which more than offset slightly lower sales in EMEA. When measured at public currency rates, Global Institutional sales were $1.0 billion and operating income was $201 million.

Global Energy segment sales, when measured at fixed currency rates, grew 20% to $1.0 billion in the second quarter 2014 and fixed currency operating income increased 44% to $157 million. Acquisition adjusted fixed currency sales grew 8% reflecting good growth in both the upstream and downstream markets; acquisition adjusted fixed currency operating income increased 40%, including synergies. When measured at public currency rates, Global Energy sales were $1.0 billion and operating income was $158 million.

Other segment sales, when measured at fixed currency rates, increased 7% to $191 million in the second quarter. Fixed currency operating income increased 7% to $30 million. When measured at public currency rates, Other segment reported sales were $192 million and reported operating income was $30 million.



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