Thursday, October 28, 2010

Eco-Lab Releases 3Q Results

Ecolab reported their earnings on 10/26/10, and reported a rise in 3Q rise of 20 percent due to higher domestic and international sales. The Company claims are Net Income grew $174.2 million or 74 cents per share, compared to be 60 cents per share in the same quarter a year ago. Revenue was $1.56 billion, which is an increase of about 1 percent from just under $1.55 billion. Analyst had expected profit to be 65 cents per share and 1.59 billion in revenue (Thomson Reuters Poll). The cleaning and sanitizing revenue grew 4% to $719 million. However, other U.S service revenue was only $118 million.

International revenue climbed 3 % to $775 million, particularly in Kay, Asia Pacific and Latin America. The introduction of the Scrub-N-Go, the floor cleaner for QSR restaurants, was a huge factor for earnings in Kay. The Company wishes to continue this growth in Kay and to continue to be aggressive gaining accounts and achieve better sales. For fourth quarter predictions, analysts believe the company will show earnings of $ .59-$ .61 per share.

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