Food Safety Company Ecolab Remains Confident In Its Outlook: Here's Why
Portfolio Pulse from Shivani Kumaresan
Ecolab Inc (NYSE:ECL) reported Q3 FY23 sales growth of 8% YoY to $3.958 billion, missing the analyst consensus estimate of $4.01 billion. However, its adjusted EPS of $1.54 beat the consensus estimate of $1.52. The company sees Q4 FY23 adjusted EPS of $1.48-$1.58, and expects mid-teens or better growth in adjusted EPS for FY24. ECL shares are trading higher by 2.44% at $163.04.
October 31, 2023 | 3:48 pm
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Ecolab's Q3 sales missed estimates but EPS beat expectations. The company forecasts strong growth in Q4 and FY24.
Despite missing sales estimates, Ecolab's EPS beat expectations and the company's positive outlook for Q4 and FY24 is likely to boost investor confidence, leading to a potential increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100