Ecolab Posts Strong Q2 Results

Ecolab, St. Paul, MN, reported a 17% rise in its second-quarter earnings. The company predicted continued growth. Second-quarter net income was $78.3 million, up from $67.2 million in the year-ago period. Ecolab’s net sales for the quarter were $1.04 billion, up 10% from $947 million a year ago. The company attributed the gain to improved sales in both domestic and overseas markets.

Bolstered by the figured, Ecolab predicted its earnings will continue to rise in the third quarter to $0.34-0.36 a share, while earnings for the year will net $1.18-1.20 a share, in line with analysts’ expectations.

Ecolab executives tempered this new information by stating that the company is unlikely to keep moving ahead at the same pace it achieved in the first six months of 2004. “Though unlikely to match the first half’s very strong growth, we nonetheless continue to expect further good earnings gains in the remaining quarters,” said Douglas Baker, Ecolab’s president and chief executive officer, in a written statement.