Why Food Safety Company Ecolab Shares Are Surging Today
Portfolio Pulse from Lekha Gupta
Ecolab Inc (NYSE:ECL) shares surged after reporting Q4 FY23 results that exceeded expectations and providing optimistic Q1 FY24 EPS guidance. Sales increased by 7% Y/Y to $3.938 billion, slightly above analyst estimates. Adjusted operating income rose 24% Y/Y, and the company expects a strong FY24 with adjusted EPS guidance of $6.10-$6.50, against an estimate of $6.14. Ecolab's CEO expressed confidence in continued earnings growth and margin expansion.
February 13, 2024 | 4:43 pm
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Ecolab Inc reported better-than-expected Q4 FY23 results and provided an optimistic FY24 EPS guidance, leading to a surge in its stock price.
Ecolab's Q4 FY23 performance exceeded analyst expectations, with a 7% Y/Y sales increase and a higher-than-expected adjusted EPS. The optimistic FY24 EPS guidance, indicating confidence in continued growth and margin expansion, likely contributed to the positive investor sentiment and the stock price surge.
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