Ecolab said that reported net sales for Q1 2024 rose 5% to $3,751.9 million, and reported operating income rose 47% to $517.9 million. Reported diluted EPS increased 74% to $1.43, and adjusted diluted EPS increased 52% to $1.34.

1. 01

   Ecolab said that reported net sales for Q1 2024 rose 5% to $3,751.9 million, and reported operating income rose 47% to $517.9 million. Reported diluted EPS increased 74% to $1.43, and adjusted diluted EPS increased 52% to $1.34.

2. 02

   The company said its reported tax rate for Q1 2024 was 9.2%, compared with 18.0% a year earlier, and its adjusted tax rate was 19.9% (versus 19.8% a year earlier). It said net tax benefits from discrete tax items totaled $48.2 million, of which $41.9 million related to the transfer of certain intangible property between affiliates.

3. 03

   The company said cash provided by operating activities increased $451 million in Q1 2024 from the same period a year earlier, citing mainly the $223 million net change in working capital and the $179 million increase in net income. It also said it repaid $630 million of long-term debt in the same quarter and had no new long-term debt issuance.

4. 04

   Ecolab said on April 27, 2024 that it entered into a definitive agreement to sell its global surgical solutions business for total cash consideration of $950 million. The transaction is expected to close in the second half of 2024, subject to customary closing conditions, including regulatory approvals, and the company expects to recognize a pre-tax gain within special (gains) and charges.

Key figures

Quarter ended March 31, 2024

Revenue

$3.8B

Operating income

$518M

Net income

$412M

EPS

$1.43

Operating cash flow

$649M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.