Ecolab (ECL) moves to Hold
Ecolab reported middling third-quarter results this morning, and the stock opened 6% lower, although it’s already making up some of those losses.
Adjusted EPS rose 11% year-over-year, to $1.53, and met estimates. Sales rose 5%, to $3.75 billion, $10 million above the consensus estimate.
However, management lowered full-year expectations by 15 cents, citing higher raw material costs and changes in exchange rates. Management now expects full-year EPS to fall in the range of $5.20 to $5.30; analysts had previously been expecting full-year EPS to hit $5.36.
I’m going to move ECL to Hold today.
I’ll have more information on Ecolab, and all our other holdings, in tomorrow’s November issue of Cabot Dividend Investor.