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Posted by Defense World Staff on Jul 24th, 2026

Arrowstreet Capital Limited Partnership increased its stake in Ecolab Inc. (NYSE:ECL – Free Report) by 58.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,243,825 shares of the basic materials company’s stock after acquiring an additional 830,726 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.80% of Ecolab worth $596,902,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wexford Capital LP bought a new stake in shares of Ecolab during the 3rd quarter valued at about $25,000. JPL Wealth Management LLC bought a new stake in Ecolab in the third quarter worth approximately $26,000. Kemnay Advisory Services Inc. bought a new stake in Ecolab in the fourth quarter worth approximately $27,000. Costello Asset Management INC acquired a new position in Ecolab in the first quarter valued at approximately $27,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Ecolab during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 74.91% of the company’s stock.

Insiders Place Their Bets In related news, Director David Maclennan acquired 1,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were acquired at an average cost of $250.65 per share, for a total transaction of $250,650.00. Following the purchase, the director owned 25,230 shares in the company, valued at approximately $6,323,899.50. The trade was a 4.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Darrell R. Brown sold 10,000 shares of Ecolab stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $260.89, for a total transaction of $2,608,900.00. Following the transaction, the chief operating officer directly owned 32,733 shares in the company, valued at $8,539,712.37. This represents a 23.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders bought a total of 10,550 shares of company stock worth $2,719,508 in the last three months. 0.50% of the stock is owned by corporate insiders.

Ecolab Stock Down 1.3% Ecolab stock opened at $263.54 on Friday. The firm has a market capitalization of $74.17 billion, a price-to-earnings ratio of 35.66, a price-to-earnings-growth ratio of 2.33 and a beta of 0.89. The firm’s fifty day moving average price is $266.20 and its two-hundred day moving average price is $273.16. Ecolab Inc. has a 1-year low of $243.15 and a 1-year high of $309.27. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.69.

Ecolab (NYSE:ECL – Get Free Report) last posted its earnings results on Tuesday, April 28th. The basic materials company reported $1.70 EPS for the quarter, hitting the consensus estimate of $1.70. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.03 billion. Ecolab had a net margin of 12.80% and a return on equity of 22.64%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.50 earnings per share. Ecolab has set its FY 2026 guidance at 8.430-8.630 EPS and its Q2 2026 guidance at 2.020-2.120 EPS. On average, equities research analysts predict that Ecolab Inc. will post 8.18 earnings per share for the current fiscal year.

Ecolab Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 16th were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.92 annualized dividend and a dividend yield of 1.1%. Ecolab’s payout ratio is presently 39.51%.

Wall Street Analyst Weigh In Several analysts have recently weighed in on ECL shares. Wells Fargo & Company lifted their price objective on shares of Ecolab from $260.00 to $275.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 10th. Citigroup raised their price target on shares of Ecolab from $325.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Oppenheimer raised shares of Ecolab from a “market perform” rating to an “outperform” rating and set a $320.00 price target for the company in a research note on Friday, July 17th. Bank of America upped their price objective on shares of Ecolab from $337.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, UBS Group raised shares of Ecolab from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $293.00 to $325.00 in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $324.06.

Get Our Latest Analysis on ECL

Ecolab Profile (Free Report)

Ecolab, Inc is a global provider of water, hygiene and infection prevention solutions and services. The company develops and supplies cleaning and sanitizing chemicals, dispensing equipment, water-treatment systems, pest elimination services and related technologies designed to help businesses maintain clean, safe and efficient operations. Its offerings span both products and onsite services, often paired with technical support and training.

Ecolab serves a broad range of end markets including hospitality and foodservice, food and beverage processing, healthcare, manufacturing and industrial operations, and energy and utilities.

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Wall Street expects a year-over-year increase in earnings on higher revenues when Ecolab (ECL - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on July 28, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis cleaning, food-safety and pest-control services company is expected to post quarterly earnings of $2.08 per share in its upcoming report, which represents a year-over-year change of +10.1%.

Revenues are expected to be $4.4 billion, up 9.3% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 8.05% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Ecolab?For Ecolab, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.20%.

On the other hand, the stock currently carries a Zacks Rank of #5.

So, this combination makes it difficult to conclusively predict that Ecolab will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Ecolab would post earnings of $1.7 per share when it actually produced earnings of $1.70, delivering no surprise.

Over the last four quarters, the company has beaten consensus EPS estimates two times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Ecolab doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAmong the stocks in the Zacks Chemical - Specialty industry, Element Solutions (ESI - Free Report) , is soon expected to post earnings of $0.43 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +16.2%. This quarter's revenue is expected to be $877.3 million, up 40.3% from the year-ago quarter.

The consensus EPS estimate for Element Solutions has remained unchanged over the last 30 days. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +1.54%.

When combined with a Zacks Rank of #2 (Buy), this Earnings ESP indicates that Element Solutions will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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Key Takeaways Ecolab closed its $4.75B CoolIT deal, adding direct liquid cooling for AI data centers.CoolIT's technology complements Ecolab's water treatment and digital monitoring capabilities.Ecolab expects High-Tech annual sales to reach $4B by 2030, with about 25% margins. Ecolab (ECL - Free Report) completed its previously announced acquisition of direct liquid cooling specialist CoolIT Systems for approximately $4.75 billion, earlier than expected. The deal significantly strengthens Ecolab's presence in the rapidly expanding AI infrastructure market by adding advanced liquid cooling technologies for high-density data centers to its portfolio.

From an investor's perspective, the acquisition marks another major step in Ecolab's strategy to transform its High-Tech business into a key long-term growth driver. By combining CoolIT's direct liquid cooling solutions with its existing water treatment and digital monitoring capabilities, Ecolab is positioning itself to capitalize on surging AI infrastructure investments while expanding its addressable market across semiconductor fabs, power generation and AI data centers.

Management expects the High-Tech business to reach $4 billion in annual sales by 2030, supporting sustained organic revenue growth, margin expansion and double-digit earnings growth over the long term despite near-term acquisition-related costs.

Likely Trend of ECL Stock Following the NewsShares of ECL have traded flat since the announcement yesterday. In the year-to-date period, shares of the company have gained 7.9% compared with the industry’s 16.1% growth. The S&P 500 increased 9.6% in the same time frame.

The CoolIT acquisition is expected to significantly strengthen Ecolab's long-term growth prospects by establishing the company as a comprehensive solutions provider across the AI infrastructure value chain. The addition of direct liquid cooling technology complements Ecolab's existing expertise in ultra-pure water, power and digital optimization solutions, enabling it to offer integrated offerings for semiconductor manufacturing and AI data centers.

As demand for high-density computing continues to rise, the acquisition should accelerate the expansion of Ecolab's High-Tech segment, deepen relationships with hyperscale customers and create cross-selling opportunities. Combined with the planned launch of its integrated 3D TRASAR cooling platform, the deal is expected to support faster revenue growth, higher operating margins and stronger recurring service revenues over the long term.

ECL currently has a market capitalization of $78.34 billion.

Image Source: Zacks Investment Research

More on the NewsFollowing the acquisition, Ecolab plans to introduce an end-to-end 3D TRASAR cooling platform at the Supercomputing conference in November 2026. The platform will combine CoolIT's cooling distribution units and high-performance cold plates with Ecolab's digital 3D TRASAR optimization technology and advanced cooling fluids. Designed for next-generation AI systems, including NVIDIA's Vera Rubin and Grace Blackwell architectures, the solution will provide real-time monitoring of cooling system performance, helping customers reduce cooling power consumption, improve energy efficiency and move toward a near-zero water footprint through closed-loop cooling technologies.

The integrated offering further expands Ecolab's capabilities across the AI infrastructure value chain, spanning ultra-pure water solutions for semiconductor manufacturing, water management for power generation and advanced liquid cooling for AI data centers.

The acquisition also significantly scales Ecolab's Global High-Tech business. Annualized sales from the segment have increased from approximately $150 million in 2021 to nearly $1.5 billion in 2026 following the acquisitions of Ovivo and CoolIT. Management now expects the business to generate $4 billion in annual sales by 2030 while delivering operating margins of about 25%, making it the company's largest growth engine. Backed by annual growth exceeding 25%, the segment is projected to contribute more than two percentage points to Ecolab's annual sales growth.

While the CoolIT acquisition is expected to create short-term earnings headwinds from non-cash amortization and financing costs, the company continues to project organic sales growth of 5-7%, annual operating margin expansion of 100-150 basis points and adjusted earnings per share (EPS) growth of 12-15% over the long term as acquisition synergies strengthen and the amortization impact from the Nalco acquisition begins to roll off after 2027.

Favorable Industry Prospect for ECLPer a report by Grand View Research, the global data center liquid cooling market size was estimated at $6.65 billion in 2025 and is projected to reach $29.46 billion by 2033, expanding at a CAGR of 20.1% from 2026 to 2033.

The rapid escalation of computing density, driven by AI, machine learning and high-performance computing workloads, is fueling the growth of the market. 

A Recent Development by ECLIn April, ECL introduced Ecolab Water Navigator IQ, an AI-enabled platform that provides businesses with a comprehensive, enterprise-wide view of water performance and converts insights into actionable outcomes.

Water Navigator IQ unifies site-level data and predictive analytics in a single platform. It helps organizations track water usage, compare performance and align water strategies with business goals.

ECL’s Zacks Rank & Key PicksCurrently, ECL carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader medical space are Globus Medical (GMED - Free Report) , West Pharmaceutical (WST - Free Report) and Intuitive Surgical (ISRG - Free Report) .

Globus Medical, currently carrying a Zacks Rank #2 (Buy), reported a first-quarter 2026 adjusted EPS of $1.12, which surpassed the Zacks Consensus Estimate by 22.1%. Revenues of $759.9 million beat the Zacks Consensus Estimate by 4.0%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

GMED has an estimated long-term earnings growth rate of 10.2% compared with the industry’s 12.6% growth. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 26.3%.

West Pharmaceutical, currently flaunting a Zacks Rank #1, reported first-quarter 2026 EPS of $2.13, which beat the Zacks Consensus Estimate by 26.8%. Revenues of $844.9 million surpassed the Zacks Consensus Estimate by 8.5%.

WST has an estimated long-term earnings growth rate of 13.9% compared with the industry’s 9.5% growth. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 19.4%.

Intuitive Surgical, carrying a Zacks Rank #2 at present, reported first-quarter 2026 adjusted EPS of $2.50, which beat the Zacks Consensus Estimate by 20.2%. Revenues of $2.77 billion surpassed the Zacks Consensus Estimate by 6.2%.

ISRG has a long-term estimated growth rate of 14.6% compared with the industry’s 12.6% growth. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.8%.

-

ST. PAUL, Minn.--(BUSINESS WIRE)--Ecolab will host a live webcast to discuss its second quarter 2026 results. A news release containing second quarter results is expected to be issued before market open on July 28, 2026.

Details for the public webcast are as follows:

TIME:

1:00 p.m. Eastern Time

DATE:

Tuesday, July 28, 2026

DURATION:

One hour

LOCATION:

www.ecolab.com/investor

ARCHIVE:

A replay of the webcast and supplemental data will be available on Ecolab’s website.

About Ecolab

A trusted partner for millions of customers, Ecolab (NYSE:ECL) is a global leader in water, hygiene and infection prevention solutions and services that protect people and the resources vital to life. For more than a century, Ecolab has advanced innovation by integrating science-based solutions, data-driven insights, AI technology and world-class service. This unique combination enables Ecolab to partner with customers to define what best-in-class looks like and scale it across their operations, helping them achieve peak performance. Today, Ecolab delivers $16 billion in annual sales, employs 48,000 associates and serves customers in more than 170 countries and 40 industries. The company helps protect one-third of the world’s food production and a quarter of the power generated while delivering innovative solutions across food, hospitality, healthcare, data centers, microelectronics and life sciences. As the world’s water company, Ecolab plays an important role in AI growth by supporting the full water needs of advanced computing—from ultra‑pure water for chip manufacturing, to water solutions that support the power behind AI, to direct liquid cooling systems for high‑density computing that improves performance while reducing environmental impact through circular water use. In life sciences, Ecolab delivers end to end solutions that support the development and manufacturing of life-saving drugs, helping customers operate safely and consistently at scale while improving performance and reducing environmental impact. Through its comprehensive approach, Ecolab protects what’s vital, with a goal by 2030 to help protect 2 billion people from infections and conserve enough drinking water for 1 billion people, while continuing to enhance business performance.

Ecolab. Protecting What’s Vital.

www.ecolab.com

(ECL-C)

More News From Ecolab Inc.

Back to Newsroom

ST. PAUL, Minn.--(BUSINESS WIRE)--Ecolab Inc. (NYSE: ECL):

FIRST QUARTER HIGHLIGHTS

Ecolab delivered another quarter of double-digit EPS growth, driven by continued strong value pricing, accelerated volume growth and solid operating income margin expansion. Reported sales $4.1 billion, +10%. Organic sales accelerated to +4%, led by accelerated growth in Life Sciences, Global High-Tech, Institutional and Specialty. Pest Elimination and Food & Beverage continued to deliver strong growth. Reported operating income margin 15.3%. Adjusted operating income margin increased 70 bps to 16.7%. Reported diluted EPS $1.52, +8%. Adjusted diluted EPS $1.70, +13%. MAINTAINS 2026 OUTLOOK

2026: Continue to expect adjusted diluted EPS in the $8.43 to $8.63 range, +12% to 15%, excluding the impact of the pending CoolIT Systems acquisition. Ecolab expects to quickly offset rising commodity costs through accelerating pricing, record new business wins and improved productivity. 2Q 2026: Expect adjusted diluted EPS in the $2.02 to $2.12 range, +7% to 12%. This range reflects a short transition period as benefits from the energy surcharge progressively build to offset higher commodity costs. First Quarter Ended March 31

Reported

Adjusted

(unaudited)

Public Currency Rates

%

Public Currency Rates

%

(millions, except per share)

2026

2025

Change

2026

2025

Change

Net sales

$4,066.1

$3,695.0

10

%

$4,066.1

$3,695.0

10

%

Operating income

622.0

555.3

12

%

679.7

589.6

15

%

Net income attributable to Ecolab

432.6

402.5

7

%

482.5

427.1

13

%

Diluted earnings per share attributable to Ecolab

$1.52

$1.41

8

%

$1.70

$1.50

13

%

Organic

%

2026

2025

Change

Net sales

$3,957.3

$3,823.1

4

%

Operating income

664.9

616.2

8

%

CEO Comment

Christophe Beck, Ecolab’s chairman, president and chief executive officer, said, “We delivered another strong quarter, with accelerated sales growth and double-digit earnings growth reflecting the strength of our growth engines and the improving performance of our core businesses. That performance was driven by strong value pricing, accelerated volume growth and improved productivity, demonstrating the power of our technology- and service-led model and the way our teams execute every day to deliver for customers in a complex operating environment.

“Accelerated organic sales growth this quarter was led by our growth engines, which collectively strengthened over the prior quarter. Life Sciences accelerated to 11% growth, driven by bioprocessing, which more than doubled its sales during the quarter. Pest Elimination grew 7%, with strong gains from our One Ecolab growth initiative and our new pest intelligence offering. Ecolab Digital and Global High-Tech both grew more than 20%, reflecting strong customer demand for connected, outcome-based solutions. Our core businesses also delivered strong performance as Institutional and Specialty both improved, and Food & Beverage continued to significantly outperform market trends.

“During the quarter, we responded quickly to sharply rising global energy costs driven by geopolitical developments. We took decisive actions across our supply chain, procurement and operations to absorb cost pressures wherever possible. We also announced a global energy surcharge to mitigate the dramatic rise in energy prices. As a result, commodity costs are expected to increase high‑single digits starting in the second quarter, and we expect those costs to remain high through the end of the year. Our priority is, and always will be, being there for our customers and supporting their operations no matter what the environment looks like.

“As we move into the second quarter, we expect a short transition period as we absorb rising commodity costs, while the benefits from the energy surcharge progressively build. Exiting the second quarter, we expect accelerating pricing to cover the dollar impact from higher commodity costs, with gross margin stabilizing in the second half of the year. With this, along with strong new business wins and improved productivity, we expect Ecolab’s performance to strengthen in the second half of the year and are reiterating our expectation to deliver 12-15% adjusted EPS growth in 2026, excluding the impact of the recently announced acquisition of CoolIT Systems.

“The pending acquisition of CoolIT is an important strategic step for Ecolab, further strengthening our Global High-Tech growth engine and extending our leadership in high-performance cooling for data centers. Our combined end-to-end cooling technologies enable leading hyperscale and colocation data centers to put more power towards computing, with less water and energy consumption. Overall, we are confident in our team’s ability to execute and deliver for customers and shareholders, supported by the strong momentum of our growth engines and solid performance in our core businesses.”

First Quarter 2026 Consolidated Results

Ecolab’s first quarter reported sales increased 10%. Organic sales growth accelerated to 4% when compared to the prior year. Ecolab Digital sales increased 24% to $99 million, with double-digit growth across both software and enabling hardware subscriptions.

First quarter 2026 reported operating income increased 12% including the impact of special gains and charges. Adjusted operating income increased 15%, as accelerated sales growth and improved productivity more than offset higher commodity costs and growth-oriented investments in the business.

Reported other income in the first quarter of 2026 decreased $4 million. Reported net interest expense increased $14 million reflecting the impact of lower cash balances and new debt used to fund the Ovivo Electronics acquisition. Together, these items reduced adjusted earnings per share by $0.05 in the first quarter of 2026, while currency translation increased earnings per share by $0.08.

The reported income tax rate for the first quarter of 2026 was 21.8% compared with the reported rate of 20.3% in the first quarter of 2025. Excluding special gains and charges and discrete tax items, the adjusted tax rate for the first quarter of 2026 was 21.0% compared with the adjusted tax rate of 20.8% in the first quarter of 2025.

Reported net income increased 7% versus the prior year. Excluding the impact of special gains and charges and discrete tax items, adjusted net income increased 13% versus the prior year.

Reported diluted earnings per share increased 8% versus the prior year. Adjusted diluted earnings per share increased 13% when compared against the first quarter of 2025.

Ecolab repurchased approximately 1.3 million shares of its common stock during the first quarter of 2026.

First Quarter 2026 Segment Review

Global Water

(unaudited)

First Quarter Ended March 31

Organic

(millions)

2026

2025

% Change

% Change

Fixed currency

Sales

$2,035.2

$1,899.5

7

%

2

%

Operating income

297.8

278.7

7

%

0

%

Operating income margin

14.6

%

14.7

%

Organic operating income margin

14.3

%

14.7

%

Public currency

Sales

$2,043.0

$1,826.4

12

%

Operating income

299.3

264.1

13

%

The Global Water segment includes Heavy Water, Light Water, High-Tech, Food & Beverage, and Paper

Fixed currency sales increased 7%, driven by a 5% benefit from the Ovivo Electronics acquisition and organic sales growth of 2%. Performance was led by more than 20% organic growth in Global High-Tech, reflecting robust growth across both microelectronics and data centers. Food & Beverage continued to grow mid-single digits, driven by attractive new business wins from our One Ecolab growth strategy. Light Water delivered steady performance, driven by solid gains in transportation. Collectively, the headwind from softer sales in Heavy Water and Paper stabilized, driven by good new business wins. Organic operating income was stable as sales growth offset higher commodity costs and growth-oriented investments in the business. Global Water’s underlying performance remained strong when excluding Heavy Water and Paper, which together reduced organic sales growth by low-single digits and organic operating income growth by upper-single digits.

Global Institutional & Specialty

(unaudited)

First Quarter Ended March 31

Organic

(millions)

2026

2025

% Change

% Change

Fixed currency

Sales

$1,507.7

$1,454.8

4

%

4

%

Operating income

347.5

308.4

13

%

13

%

Operating income margin

23.0

%

21.2

%

Organic operating income margin

23.0

%

21.2

%

Public currency

Sales

$1,511.4

$1,418.0

7

%

Operating income

348.2

301.2

16

%

Fixed currency and organic sales growth both improved to 4%. Institutional’s improved performance was driven by good growth with hospitality customers. Specialty’s sales grew high-single digits, with accelerated growth driven by robust new business wins and continued value pricing. Organic operating income increased 13%, as strong sales growth more than offset higher commodity costs.

Global Pest Elimination

(unaudited)

First Quarter Ended March 31

Organic

(millions)

2026

2025

% Change

% Change

Fixed currency

Sales

$310.1

$287.4

8

%

7

%

Operating income

51.7

47.7

8

%

10

%

Operating income margin

16.7

%

16.6

%

Organic operating income margin

17.0

%

16.6

%

Public currency

Sales

$310.8

$280.6

11

%

Operating income

51.9

46.5

12

%

Fixed currency sales increased 8%, reflecting 7% organic growth and a 1% benefit from attractive, targeted acquisitions in North America. Strong organic sales growth was led by robust gains in restaurants, food retail, food & beverage and healthcare, which continue to benefit from our One Ecolab growth strategy. Organic operating income increased 10% as strong sales growth and improved productivity more than offset growth-oriented investments, including pest intelligence.

Global Life Sciences

(unaudited)

First Quarter Ended March 31

Organic

(millions)

2026

2025

% Change

% Change

Fixed currency

Sales

$200.9

$181.4

11

%

11

%

Operating income

37.5

31.0

21

%

21

%

Operating income margin

18.7

%

17.1

%

Organic operating income margin

18.7

%

17.1

%

Public currency

Sales

$200.9

$170.0

18

%

Operating income

37.7

26.6

42

%

Fixed currency and organic sales growth both accelerated to 11%. This strong growth was driven by bioprocessing, which more than doubled its sales during the quarter. This, along with robust growth in pharmaceutical & personal care, overcame temporary capacity constraints within Life Sciences’ industrial water purification business. Organic operating income increased 21%, as strong sales growth and lower supply chain costs more than offset unfavorable mix and growth-oriented investments in the business. Life Sciences’ current upper-teens organic operating income margin reflects strong underlying profitability and continued investments in breakthrough innovation, global capabilities, and capacity to unlock this very attractive, long-term growth opportunity.

Corporate

(unaudited)

First Quarter Ended March 31

(millions)

2026

2025

Public currency

Corporate operating expense

Transformational acquisition amortization

$57.4

$48.8

Special (gains) and charges

57.7

34.3

Total Corporate operating expense (income)

$115.1

$83.1

First quarter of 2026 corporate segment includes:

amortization expense of $28 million related to the Nalco merger intangible assets, $22 million related to Purolite acquisition intangible assets and $8 million related to the Ovivo Electronics acquisition intangible assets special gains and charges were a net charge of $58 million, primarily related to One Ecolab and acquisition and integration costs for the Ovivo Electronics and pending CoolIT Systems acquisitions Special gains and charges for the first quarter of 2025 impacting operating expense were a net charge of $34 million primarily related to One Ecolab.

Business Outlook

2026

Long-term growth trends in water, hygiene, infection prevention, and digital technologies continue to fuel resilient demand for Ecolab’s innovative technologies and services. Strong momentum in Ecolab’s growth engines, which include Global High-Tech, Life Sciences, Pest Elimination and Ecolab Digital, is expected to continue to strengthen Ecolab’s overall performance. Ecolab’s investments in these areas position the company well to capitalize on these attractive long-term high-growth, high-margin opportunities.

In the near-term, the global operating environment remains unpredictable, including constantly evolving geopolitics and international trade policy, which are resulting in rising commodity costs and emerging challenges in the Middle East. Importantly, the company is very well positioned to quickly mitigate the impact of these challenges. Over the past few years, Ecolab’s team has demonstrated it can adjust quickly to deliver high performance in almost any environment, which is why even with these dynamic macroeconomic conditions, Ecolab’s confidence in its performance trajectory remains strong. Pricing is expected to progressively accelerate over the next few quarters as the energy surcharge gets implemented. At the same time, Ecolab remains focused on delivering incremental total value to customers that over time will exceed the total price increases. As the company exits the second quarter, it expects accelerating pricing to cover the dollar impact from higher commodity costs, with gross margin stabilizing in the second half of the year.

With progressively accelerating pricing and the acquisition of Ovivo Electronics, Ecolab expects 2026 reported sales to increase 9% to 11%. Organic sales growth is expected to accelerate to the 6% to 7% range in the second half of the year as pricing strengthens and volumes continue to grow. The company anticipates adjusted operating income margin to expand to approximately 19% in 2026, resulting in adjusted operating income growth of 14% to 16%.

In total, Ecolab continues to expect full year 2026 adjusted diluted earnings per share in the $8.43 to $8.63 range, rising 12% to 15% compared with adjusted diluted earnings per share of $7.53 in 2025. This outlook excludes the impact of the recently announced acquisition of CoolIT Systems, which is expected to close during the third quarter.

The company currently anticipates quantifiable special charges in 2026 to be approximately $0.60 to $0.65 per share, principally related to restructuring charges. Other than the special gains and charges noted above, other such amounts are not currently quantifiable.

2026 – Second Quarter

Ecolab expects second quarter 2026 adjusted diluted earnings per share in the $2.02 to $2.12 range, rising 7% to 12% compared with adjusted diluted earnings per share of $1.89 a year ago. This range reflects a short transition period as benefits from the energy surcharge progressively build to offset higher commodity costs.

The company currently expects quantifiable special charges in the second quarter of 2026 to be approximately $0.22 per share, principally related to restructuring charges. Other than the special gains and charges noted above, other such amounts are not currently quantifiable.

About Ecolab

A trusted partner for millions of customers, Ecolab (NYSE:ECL) is a global leader in water, hygiene and infection prevention solutions and services that protect people and the resources vital to life. For more than a century, Ecolab has advanced innovation by integrating science-based solutions, data-driven insights, AI technology and world-class service. This unique combination enables Ecolab to partner with customers to define what best-in-class looks like and scale it across their operations, helping them achieve peak performance. Today, Ecolab delivers $16 billion in annual sales, employs 48,000 associates and serves customers in more than 170 countries and 40 industries. The company helps protect one-third of the world’s food production and a quarter of the power generated while delivering innovative solutions across food, hospitality, healthcare, data centers, microelectronics and life sciences. As the world’s water company, Ecolab plays an important role in AI growth by supporting the full water needs of advanced computing—from ultra‑pure water for chip manufacturing, to water solutions that support the power behind AI, to direct liquid cooling systems for high‑density computing that improves performance while reducing environmental impact through circular water use. In life sciences, Ecolab delivers end to end solutions that support the development and manufacturing of life-saving drugs, helping customers operate safely and consistently at scale while improving performance and reducing environmental impact. Through its comprehensive approach, Ecolab protects what’s vital, with a goal by 2030 to help protect 2 billion people from infections and conserve enough drinking water for 1 billion people, while continuing to enhance business performance.

Ecolab. Protecting What’s Vital.

www.ecolab.com

Ecolab will host a live webcast to review the first quarter earnings announcement today at 1:00 p.m. Eastern Time. The webcast, along with related materials, will be available to the public on Ecolab's website at www.ecolab.com/investor. A replay of the webcast and related materials will be available at that site.

Cautionary Statements Regarding Forward-Looking Information

This news release contains certain statements relating to future events and our intentions, beliefs, expectations and predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “we believe,” “we expect,” “estimate,” “project,” “may,” “will,” “intend,” “plan,” “believe,” “target,” “forecast” (including the negative or variations thereof) or similar terminology used in connection with any discussion of future plans, actions or events generally identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding macroeconomic conditions and our financial and business performance and prospects, including sales, earnings, special gains and charges, raw material costs, margins, pricing, currency translation, productivity, investments, acquisitions and new business. These statements are based on the current expectations of management of the company. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this news release. In particular, the ultimate results of any restructuring initiative depend on a number of factors, including the development of final plans, the impact of local regulatory requirements regarding employee terminations, the time necessary to develop and implement the restructuring initiatives and the level of success achieved through such actions in improving competitiveness, efficiency and effectiveness.

Additional risks and uncertainties that may affect operating results and business performance are set forth under Item 1A of our most recent Form 10-K, and our other public filings with the Securities and Exchange Commission (the "SEC"), and include the impact of economic factors such as the worldwide economy, interest rates, foreign currency risk, reduced sales and earnings in our international operations resulting from the weakening of local currencies versus the U.S. dollar, demand uncertainty, supply chain challenges and inflation; the vitality of the markets we serve; exposure to global economic, political and legal risks related to our international operations, including international trade policies, geopolitical instability and the escalation of armed conflicts; our increasing reliance on artificial intelligence technologies in our products, services and operations; information technology infrastructure failures or breaches in data security; difficulty in procuring raw materials or fluctuations in raw material costs; our ability to successfully execute organizational change and management transitions; the occurrence of severe public health outbreaks not limited to COVID-19; our ability to acquire complementary businesses and to effectively integrate such businesses; our ability to execute key business initiatives; our ability to successfully compete with respect to value, innovation and customer support; pressure on operations from consolidation of customers or vendors; restraints on pricing flexibility due to contractual obligations and our ability to meet our contractual commitments; the costs and effects of complying with laws and regulations, including those relating to the environment, climate change standards, and to the manufacture, storage, distribution, sale and use of our products, as well as to the conduct of our business generally, including labor and employment and anti-corruption; potential safety incidents; potential chemical spill or release; potential to incur significant tax liabilities or indemnification liabilities relating to the separation and split-off of our ChampionX business; the occurrence of litigation or claims, including class action lawsuits; the loss or insolvency of a major customer or distributor; repeated or prolonged government and/or business shutdowns or similar events; acts of war or terrorism; natural or man-made disasters; water shortages; severe weather conditions; our commitments, goals, targets, objectives and initiatives related to sustainability, and our public statements and disclosures regarding them; changes in tax laws and unanticipated tax liabilities; potential loss of deferred tax assets; our indebtedness, and any failure to comply with covenants that apply to our indebtedness; potential losses arising from the impairment of goodwill or other assets; and other uncertainties or risks reported from time to time in our reports to the SEC. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this news release may not occur. We caution that undue reliance should not be placed on forward-looking statements, which speak only as of the date made. Ecolab does not undertake, and expressly disclaims, any duty to update any forward-looking statement whether as a result of new information, future events or changes in expectations, except as required by law.

Non-GAAP Financial Information

This news release and certain of the accompanying tables include financial measures that have not been calculated in accordance with accounting principles generally accepted in the U.S. (“GAAP”).

These non-GAAP financial measures may include:

fixed currency sales organic sales adjusted cost of sales adjusted gross profit adjusted gross margin fixed currency operating income fixed currency operating income margin adjusted operating income adjusted fixed currency operating income adjusted fixed currency operating income margin organic operating income organic operating income margin adjusted tax rate adjusted net income attributable to Ecolab adjusted diluted earnings per share free cash flow We provide these measures as additional information regarding our operating results. We use these non-GAAP measures internally to evaluate our performance and in making financial and operational decisions, including with respect to incentive compensation. We believe that our presentation of these measures provides investors with greater transparency with respect to our results of operations and that these measures are useful for period-to-period comparison of results.

Our non-GAAP financial measures for adjusted cost of sales, adjusted gross margin, adjusted gross profit and adjusted operating income exclude the impact of special (gains) and charges and our non-GAAP financial measures for adjusted tax rate, adjusted net income attributable to Ecolab and adjusted diluted earnings per share further exclude the impact of discrete tax items. Adjusted diluted earnings per share also excludes the impact of the Ovivo Electronics acquisition in the fourth quarter of 2025. We include items within special (gains) and charges and discrete tax items that we believe can significantly affect the period-over-period assessment of operating results and not necessarily reflect costs and/or income associated with historical trends and future results. After tax special (gains) and charges are derived by applying the applicable local jurisdictional tax rate to the corresponding pre-tax special (gains) and charges.

We evaluate the performance of our international operations based on fixed currency rates of foreign exchange, which eliminate the translation impact of exchange rate fluctuations on our international results. Fixed currency amounts included in this release are based on translation into U.S. dollars at the fixed foreign currency exchange rates established by management at the beginning of 2026. We also provide our segment results based on public currency rates for informational purposes.

Our reportable segments do not include the impact of intangible asset amortization from the Nalco, Purolite and Ovivo Electronics transactions or the impact of special (gains) and charges as these are not allocated to the Company’s reportable segments.

Our non-GAAP financial measures for organic sales, organic operating income and organic operating income margin are at fixed currency and exclude the impact of special (gains) and charges where applicable, the results of our acquired businesses from the first twelve months post acquisition and the results of divested businesses from the twelve months prior to divestiture.

We define free cash flow as net cash provided by operating activities less cash outlays for capital expenditures. It should not be inferred that the entire free cash flow amount is available for discretionary expenditures. It should not be considered a substitute for income or cash flow data prepared in accordance with U.S. GAAP and may not be comparable to similarly titled measures used by other companies. We believe free cash flow is meaningful to investors as it functions as a useful measure of performance and we use this measure as an indication of the strength of the Company and its ability to generate cash.

These non-GAAP financial measures are not in accordance with, or an alternative to, GAAP and may be different from non-GAAP measures used by other companies. Investors should not rely on any single financial measure when evaluating our business. We recommend that investors view these measures in conjunction with the GAAP measures included in this news release. Reconciliations of our non-GAAP measures are included in the following "Supplemental Non-GAAP Reconciliations" and “Supplemental Diluted Earnings per Share Information” tables included in this news release.

We do not provide reconciliations for non-GAAP estimates on a forward-looking basis (including those contained in this news release) when we are unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing and amount of various items that have not yet occurred, are out of our control and/or cannot be reasonably predicted, and that would impact reported earnings per share and the reported tax rate, the most directly comparable forward-looking GAAP financial measures to adjusted earnings per share and the adjusted tax rate. For the same reasons, we are unable to address the probable significance of the unavailable information.

(ECL-E)

ECOLAB INC.

CONSOLIDATED STATEMENTS OF INCOME

(unaudited)

First Quarter Ended

March 31

%

(millions, except per share)

2026

2025

Change

Product and equipment sales

$3,174.6

$2,901.9

Service and lease sales

891.5

793.1

Net sales

4,066.1

3,695.0

10

%

Product and equipment cost of sales

1,786.2

1,605.4

Service and lease cost of sales

509.1

454.8

Cost of sales (1)

2,295.3

2,060.2

11

%

Selling, general and administrative expenses

1,102.4

1,050.0

5

%

Special (gains) and charges (1)

46.4

29.5

Operating income

622.0

555.3

12

%

Other (income) expense

(8.8

)

(13.0

)

(32

)

%

Interest expense, net

72.7

58.3

25

%

Income before income taxes

558.1

510.0

9

%

Provision for income taxes

121.5

103.5

17

%

Net income including noncontrolling interest

436.6

406.5

7

%

Net income attributable to noncontrolling interest

4.0

4.0

Net income attributable to Ecolab

$432.6

$402.5

7

%

Earnings attributable to Ecolab per common share

Basic

$1.53

$1.42

8

%

Diluted

$1.52

$1.41

8

%

Weighted-average common shares outstanding

Basic

282.0

283.4

0

%

Diluted

283.7

285.3

(1

)

%

(1) Cost of sales and Special (gains) and charges in the Consolidated Statement of Income above include the following:

First Quarter Ended

March 31

(millions)

2026

2025

Cost of sales

One Ecolab

$1.6

$4.8

Other restructuring

9.7

-

Subtotal (a)

11.3

4.8

Special (gains) and charges

One Ecolab

31.4

39.4

Acquisition and integration activities

14.1

1.5

Sale of global surgical solutions business

-

1.6

Other

0.9

(13.0

)

Subtotal

46.4

29.5

Total special (gains) and charges

$57.7

$34.3

(a) Special charges of $11.3 million and $4.8 million in the first quarter of 2026 and 2025, respectively, were recorded in product and equipment cost of sales.

ECOLAB INC.

REPORTABLE SEGMENT INFORMATION

(unaudited)

First Quarter Ended March 31

Fixed Currency Rates

Public Currency Rates

%

%

(millions)

2026

2025

Change

2026

2025

Change

Net Sales

Global Water

$2,035.2

$1,899.5

7

%

$2,043.0

$1,826.4

12

%

Global Institutional & Specialty

1,507.7

1,454.8

4

%

1,511.4

1,418.0

7

%

Global Pest Elimination

310.1

287.4

8

%

310.8

280.6

11

%

Global Life Sciences

200.9

181.4

11

%

200.9

170.0

18

%

Subtotal at fixed currency rates

4,053.9

3,823.1

6

%

4,066.1

3,695.0

10

%

Currency impact

12.2

(128.1

)

*

-

-

*

Consolidated reported GAAP net sales

$4,066.1

$3,695.0

10

%

$4,066.1

$3,695.0

10

%

Operating Income (loss)

Global Water

$297.8

$278.7

7

%

$299.3

$264.1

13

%

Global Institutional & Specialty

347.5

308.4

13

%

348.2

301.2

16

%

Global Pest Elimination

51.7

47.7

8

%

51.9

46.5

12

%

Global Life Sciences

37.5

31.0

21

%

37.7

26.6

42

%

Corporate

(114.8

)

(83.5

)

*

(115.1

)

(83.1

)

*

Subtotal at fixed currency rates

619.7

582.3

6

%

622.0

555.3

12

%

Currency impact

2.3

(27.0

)

*

-

-

*

Consolidated reported GAAP operating income

$622.0

$555.3

12

%

$622.0

$555.3

12

%

* Not meaningful.

As shown in the “Fixed Currency Rates” tables above, we evaluate the performance of our international operations based on fixed currency exchange rates, which eliminate the impact of exchange rate fluctuations on our international operations. Amounts shown in the “Public Currency Rates” tables above reflect amounts translated at actual public average rates of exchange prevailing during the corresponding period and are provided for informational purposes. The difference between the fixed currency exchange rates and the public currency exchange rates is reported as “Currency impact” in the “Fixed Currency Rates” tables above.

The Corporate segment includes amortization from the Nalco, Purolite and Ovivo Electronics transactions intangible assets. The Corporate segment also includes special (gains) and charges reported on the Consolidated Statement of Income.

ECOLAB INC.

CONSOLIDATED BALANCE SHEETS

(unaudited)

March 31

December 31

March 31

(millions)

2026

2025

2025

Assets

Current assets

Cash and cash equivalents

$519.8

$646.2

$1,162.6

Accounts receivable, net

3,280.2

3,249.4

2,857.1

Inventories

1,572.0

1,490.4

1,547.2

Other current assets

670.7

569.6

514.2

Total current assets

6,042.7

5,955.6

6,081.1

Property, plant and equipment, net

4,397.2

4,276.6

3,775.8

Goodwill

9,438.7

9,227.0

7,864.5

Other intangible assets, net

3,524.2

3,688.5

3,228.7

Operating lease assets

775.1

765.9

750.7

Other assets

862.7

782.7

665.6

Total assets

$25,040.6

$24,696.3

$22,366.4

Liabilities and Equity

Current liabilities

Short-term debt

$1,573.2

$870.4

$614.2

Accounts payable

2,054.8

2,071.0

1,765.6

Compensation and benefits

571.4

721.5

540.1

Income taxes

127.4

134.3

178.5

Other current liabilities

1,768.9

1,737.5

1,510.8

Total current liabilities

6,095.7

5,534.7

4,609.2

Long-term debt

6,922.5

7,365.9

6,997.6

Pension and postretirement benefits

547.6

546.1

590.2

Deferred income taxes

389.5

329.9

249.4

Operating lease liabilities

603.5

596.5

598.8

Other liabilities

449.8

518.7

417.5

Total liabilities

15,008.6

14,891.8

13,462.7

Equity

Common stock

370.2

369.4

368.6

Additional paid-in capital

7,643.7

7,521.3

7,298.2

Retained earnings

13,060.5

12,834.0

11,735.2

Accumulated other comprehensive loss

(1,626.1

)

(1,874.3

)

(2,064.2

)

Treasury stock

(9,444.4

)

(9,079.6

)

(8,462.0

)

Total Ecolab shareholders’ equity

10,003.9

9,770.8

8,875.8

Noncontrolling interest

28.1

33.7

27.9

Total equity

10,032.0

9,804.5

8,903.7

Total liabilities and equity

$25,040.6

$24,696.3

$22,366.4

ECOLAB INC.

SUPPLEMENTAL NON-GAAP RECONCILIATIONS

(unaudited)

First Quarter Ended

March 31

(millions, except percent and per share)

2026

2025

Net sales

Reported GAAP net sales

$4,066.1

$3,695.0

Effect of foreign currency translation

(12.2

)

128.1

Non-GAAP fixed currency sales

4,053.9

3,823.1

Effect of acquisitions and divestitures

(96.6

)

-

Non-GAAP organic sales

$3,957.3

$3,823.1

Cost of sales

Reported GAAP cost of sales

$2,295.3

$2,060.2

Special (gains) and charges

11.3

4.8

Non-GAAP adjusted cost of sales

$2,284.0

$2,055.4

Gross profit

Reported GAAP gross profit

$1,770.8

$1,634.8

Special (gains) and charges

11.3

4.8

Non-GAAP adjusted gross profit

$1,782.1

$1,639.6

Gross margin

Reported GAAP gross margin

43.6

%

44.2

%

Non-GAAP adjusted gross margin

43.8

%

44.4

%

Operating income

Reported GAAP operating income

$622.0

$555.3

Special (gains) and charges at public currency rates

57.7

34.3

Non-GAAP adjusted operating income

679.7

589.6

Effect of foreign currency translation

(3.4

)

26.6

Non-GAAP adjusted fixed currency operating income

676.3

616.2

Effect of acquisitions and divestitures

(11.4

)

-

Non-GAAP organic operating income

$664.9

$616.2

Operating income margin

Reported GAAP operating income margin

15.3

%

15.0

%

Non-GAAP adjusted operating income margin

16.7

%

16.0

%

Non-GAAP organic operating income margin

16.8

%

16.1

%

ECOLAB INC.

SUPPLEMENTAL NON-GAAP RECONCILIATIONS

(unaudited)

First Quarter Ended

March 31

(millions, except percent and per share)

2026

2025

Net Income attributable to Ecolab

Reported GAAP net income attributable to Ecolab

$432.6

$402.5

Special (gains) and charges, after tax

45.5

25.1

Discrete tax net expense (benefit)

4.4

(0.5

)

Non-GAAP adjusted net income attributable to Ecolab

$482.5

$427.1

Diluted EPS attributable to Ecolab

Reported GAAP diluted EPS

$1.52

$1.41

Special (gains) and charges, after tax

0.16

0.09

Discrete tax net expense (benefit)

0.02

0.00

Non-GAAP adjusted diluted EPS

$1.70

$1.50

Provision for Income Taxes

Reported GAAP tax rate

21.8

%

20.3

%

Special gains and charges

(0.1

)

0.4

Discrete tax items

(0.7

)

0.1

Non-GAAP adjusted tax rate

21.0

%

20.8

%

ECOLAB INC.

SUPPLEMENTAL NON-GAAP RECONCILIATIONS

(unaudited)

First Quarter Ended March 31

2026

2025

(millions)

Fixed Currency

Impact of
Acquisitions
and
Divestitures

Organic

Fixed Currency

Impact of
Acquisitions
and
Divestitures

Organic

Net Sales

Global Water

$2,035.2

($95.0

)

$1,940.2

$1,899.5

$-

$1,899.5

Global Institutional & Specialty

1,507.7

-

1,507.7

1,454.8

-

1,454.8

Global Pest Elimination

310.1

(1.6

)

308.5

287.4

-

287.4

Global Life Sciences

200.9

-

200.9

181.4

-

181.4

Subtotal at fixed currency rates

4,053.9

(96.6

)

3,957.3

3,823.1

-

3,823.1

Currency impact

12.2

(128.1

)

Consolidated reported GAAP net sales

$4,066.1

$3,695.0

Operating Income (loss)

Global Water

$297.8

($20.4

)

$277.4

$278.7

$-

$278.7

Global Institutional & Specialty

347.5

-

347.5

308.4

-

308.4

Global Pest Elimination

51.7

0.6

52.3

47.7

-

47.7

Global Life Sciences

37.5

-

37.5

31.0

-

31.0

Corporate

(58.2

)

8.4

(49.8

)

(49.6

)

-

(49.6

)

Subtotal at fixed currency rates

676.3

(11.4

)

664.9

616.2

-

616.2

Special (gains) and charges at fixed currency rates

56.6

33.9

Reported OI at fixed currency rates

619.7

582.3

Currency impact

2.3

(27.0

)

Consolidated reported GAAP operating income

$622.0

$555.3

ECOLAB INC.

SUPPLEMENTAL DILUTED EARNINGS PER SHARE INFORMATION

(unaudited)

The table below provides a reconciliation of diluted earnings per share, as reported, to the non-GAAP measure of adjusted diluted earnings per share.

First

Second

Six

Third

Nine

Fourth

Quarter

Quarter

Months

Quarter

Months

Quarter

Year

Ended

Ended

Ended

Ended

Ended

Ended

Ended

Mar. 31

June 30

June 30

Sept. 30

Sept. 30

Dec. 31

Dec. 31

2025

2025

2025

2025

2025

2025

2025

Diluted earnings per share, as reported (U.S. GAAP)

$1.41

$1.84

$3.25

$2.05

$5.30

$1.98

$7.28

Adjustments:

Special (gains) and charges (1)

0.09

0.07

0.16

0.08

0.24

0.21

0.45

Discrete tax expense (benefits) (2)

0.00

(0.02

)

(0.02

)

(0.06

)

(0.08

)

(0.12

)

(0.21

)

Impact of Ovivo Electronics on diluted earnings per share

0.00

0.00

0.00

0.00

0.00

0.01

0.01

Adjusted diluted earnings per share (Non-GAAP)

$1.50

$1.89

$3.39

$2.07

$5.46

$2.08

$7.53

  First

Second

Six

Third

Nine

Fourth

Quarter

Quarter

Months

Quarter

Months

Quarter

Year

Ended

Ended

Ended

Ended

Ended

Ended

Ended

Mar. 31

June 30

June 30

Sept. 30

Sept. 30

Dec. 31

Dec. 31

2026

2026

2026

2026

2026

2026

2026

Diluted earnings per share, as reported (U.S. GAAP)

$1.52

Adjustments:

Special (gains) and charges (3)

0.16

Discrete tax expense (benefits) (4)

0.02

Adjusted diluted earnings per share (Non-GAAP)

$1.70

  Per share amounts do not necessarily sum due to changes in shares outstanding and rounding.

(1) Special (gains) and charges for 2025 includes charges of $25.1 million, $20.6 million, $22.0 million and $59.7 million, net of tax, in the first, second, third and fourth quarters, respectively. These charges were primarily related to One Ecolab.

(2) Discrete tax expenses (benefits) for 2025 includes ($0.5) million, ($5.0) million, ($16.3) million and ($35.7) million in the first, second, third and fourth quarters, respectively. These expenses (benefits) are primarily associated with the recognition of deferred tax attributes, share-based compensation excess tax benefits, the filing of federal, state, and foreign tax returns, and other discrete expenses (benefits).

(3) Special (gains) and charges for 2026 includes $45.5 million, net of tax, in the first quarter. These charges were primarily related to One Ecolab and acquisition and integration costs for the Ovivo Electronics and pending CoolIT Systems acquisitions.

(4) Discrete tax expenses (benefits) for 2026 includes $4.4 million in the first quarter. These expenses (benefits) are primarily associated with share-based compensation excess tax benefits and other discrete expenses (benefits).

More News From Ecolab Inc.

Ecolab (ECL - Free Report) reported $4.07 billion in revenue for the quarter ended March 2026, representing a year-over-year increase of 10%. EPS of $1.70 for the same period compares to $1.50 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $4.02 billion, representing a surprise of +1.05%. The company delivered an EPS surprise of +0.06%, with the consensus EPS estimate being $1.70.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Ecolab performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Net Sales- Fixed Currency Rates- Global Pest Elimination: $310.1 million versus $295.72 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +11.5% change.Net Sales- Fixed Currency Rates- Global Water: $2.04 billion versus the three-analyst average estimate of $1.97 billion.Net Sales- Fixed Currency Rates- Global Life Sciences: $200.9 million compared to the $178.13 million average estimate based on three analysts.Net Sales- Fixed Currency Rates- Global Institutional & Specialty: $1.51 billion compared to the $1.45 billion average estimate based on three analysts. The reported number represents a change of +7.2% year over year.Net Sales- Public Currency Rates- Global Life Sciences: $200.9 million compared to the $183.6 million average estimate based on two analysts.Net Sales- Public Currency Rates- Global Pest Elimination: $310.8 million versus $306.7 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +10.8% change.Net Sales- Public Currency Rates- Global Institutional & Specialty: $1.51 billion compared to the $1.5 billion average estimate based on two analysts. The reported number represents a change of +6.6% year over year.Net Sales- Public Currency Rates- Global Water: $2.04 billion versus the two-analyst average estimate of $2.05 billion.Operating Income (loss)- Fixed Currency Rates- Global Life Sciences: $37.5 million versus $29.91 million estimated by three analysts on average.Operating Income (loss)- Fixed Currency Rates- Global Pest Elimination: $51.7 million versus the three-analyst average estimate of $57.18 million.Operating Income (loss)- Fixed Currency Rates- Global Institutional & Specialty: $347.5 million versus the three-analyst average estimate of $323.38 million.Operating Income (loss)- Fixed Currency Rates- Corporate: $-114.8 million compared to the $-54.34 million average estimate based on three analysts.View all Key Company Metrics for Ecolab here>>>

Shares of Ecolab have returned +2.1% over the past month versus the Zacks S&P 500 composite's +12.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Ecolab Inc. (ECL) Q1 2026 Earnings Call Transcript

New facility brings deep expertise closer to Asian customers, strengthening Ecolab’s global network

SEOUL, South Korea--(BUSINESS WIRE)--Building on the continued growth and strong performance of its Life Sciences business, Ecolab is further expanding its global bioprocessing capabilities to support biopharmaceutical manufacturers worldwide. Today, Ecolab Life Sciences announced the opening of a new Bioprocessing Applications Lab (BPAL) in Dongtan, Korea, its first bioprocessing facility in Asia. The new center further strengthens the company’s global Life Sciences footprint and supports customers operating in one of the world’s most advanced biopharmaceutical manufacturing markets.

BPAL Korea is the latest example of Ecolab Life Sciences’ long-term investment in the life sciences industry, building on continued innovation across the company’s bioprocessing portfolio, including its affinity resin technologies.

Share The Korea BPAL supports a full range of process development activities from early-stage testing through studies that replicate manufacturing at scale, building on Ecolab’s established bioprocessing applications network in the United States and the United Kingdom. The facility enables hands-on collaboration with Ecolab’s bioprocessing experts to help customers optimize purification processes, enhance cost and process efficiency, and advance programs toward commercial readiness.

Korea has emerged as a global center for biopharmaceutical manufacturing, particularly in biosimilars that expand access to advanced therapies worldwide. In this highly competitive environment, manufacturers require speed, technical rigor and alignment with global standards. With bioprocessing experts now based locally, customers can progress development more efficiently by avoiding overseas material transfers, while maintaining consistency and cost efficiencies across global operations.

“Biopharmaceutical manufacturers across Asia are under increasing pressure to scale with speed while meeting demanding regulatory and performance expectations,” said Jenny Tan, vice president and general manager, Ecolab Life Sciences APAC and India. “BPAL Korea strengthens our ability to work side by side with customers, bringing deep local expertise together with Ecolab’s global, integrated bioprocessing network.”

BPAL Korea is the latest example of Ecolab Life Sciences’ long-term investment in the life sciences industry, building on continued innovation across the company’s bioprocessing portfolio, including its affinity resin technologies. By expanding its global network of development and applications centers, Ecolab Life Sciences is helping customers drive growth and scale advanced therapies with speed, reliability, and confidence worldwide.

To learn more about Ecolab Life Sciences’ bioprocess development capabilities and how BPAL Korea supports scalable, regulatory-ready purification processes, visit Ecolab’s Purolite™ Resins website here.

About Ecolab

A trusted partner for millions of customers, Ecolab (NYSE:ECL) is a global leader in water, hygiene and infection prevention solutions and services that protect people and the resources vital to life. For more than a century, Ecolab has advanced innovation by integrating science-based solutions, data-driven insights, AI technology and world-class service. This unique combination enables Ecolab to partner with customers to define what best-in-class looks like and scale it across their operations, helping them achieve peak performance. Today, Ecolab delivers $16 billion in annual sales, employs 48,000 associates and serves customers in more than 170 countries and 40 industries. The company helps protect one-third of the world’s food production and a quarter of the power generated while delivering innovative solutions across food, hospitality, healthcare, data centers, microelectronics and life sciences. As the world’s water company, Ecolab plays an important role in AI growth by supporting the full water needs of advanced computing—from ultra‑pure water for chip manufacturing, to water solutions that support the power behind AI, to direct liquid cooling systems for high‑density computing that improves performance while reducing environmental impact through circular water use. In life sciences, Ecolab delivers end to end solutions that support the development and manufacturing of life-saving drugs, helping customers operate safely and consistently at scale while improving performance and reducing environmental impact. Through its comprehensive approach, Ecolab protects what’s vital, with a goal by 2030 to help protect 2 billion people from infections and conserve enough drinking water for 1 billion people, while continuing to enhance business performance.

Ecolab. Protecting What’s Vital.

www.ecolab.com

Follow us on LinkedIn @Ecolab, Instagram @Ecolab_Inc and Facebook @Ecolab.

(ECL-C)

Posted by Defense World Staff on Apr 29th, 2026

Concurrent Investment Advisors LLC lifted its stake in Ecolab Inc. (NYSE:ECL – Free Report) by 38.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,159 shares of the basic materials company’s stock after acquiring an additional 2,533 shares during the period. Concurrent Investment Advisors LLC’s holdings in Ecolab were worth $2,404,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ECL. Vanguard Group Inc. boosted its holdings in shares of Ecolab by 2.1% in the third quarter. Vanguard Group Inc. now owns 25,190,115 shares of the basic materials company’s stock worth $6,898,565,000 after acquiring an additional 527,902 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Ecolab by 195.9% in the third quarter. Balyasny Asset Management L.P. now owns 670,778 shares of the basic materials company’s stock worth $183,699,000 after acquiring an additional 444,053 shares during the period. M&T Bank Corp boosted its holdings in shares of Ecolab by 594.6% in the fourth quarter. M&T Bank Corp now owns 493,525 shares of the basic materials company’s stock worth $129,560,000 after acquiring an additional 422,471 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Ecolab by 115.6% in the second quarter. AQR Capital Management LLC now owns 727,370 shares of the basic materials company’s stock worth $193,753,000 after acquiring an additional 389,981 shares during the period. Finally, Holocene Advisors LP bought a new position in shares of Ecolab in the third quarter worth $97,664,000. 74.91% of the stock is owned by institutional investors.

Trending Headlines about Ecolab Here are the key news stories impacting Ecolab this week:

Positive Sentiment: Ecolab beat Q1 revenue estimates with reported sales of $4.07B (+10% y/y) and accelerated organic growth in Life Sciences, Global High‑Tech, Institutional and Specialty—driving continued double‑digit EPS growth. Ecolab Delivers Accelerated Sales Growth and Double-Digit EPS Growth Positive Sentiment: Digital sales and strong demand in life sciences/tech were highlighted as growth drivers, supporting near-term revenue momentum. ECL Stock Up in Pre-Market Post In-Line Q1 Earnings, Gross Margin Down Neutral Sentiment: Reported adjusted EPS of $1.70 matched consensus; revenue beat but gross margin tightened versus prior year—mixed signal for profitability trends. Ecolab (ECL) Q1 Earnings Match Estimates Neutral Sentiment: The company maintained FY2026 adjusted EPS guidance of $8.43–$8.63, essentially in line with consensus—providing some reassurance about full‑year targets despite near‑term uncertainty. MarketBeat Ecolab Coverage Negative Sentiment: Ecolab set Q2 EPS guidance of $2.02–$2.12, which sits slightly below consensus and prompted investor caution; management flagged higher costs tied to the Iran war as a driver of elevated near‑term expense. Ecolab forecasts second-quarter profit below estimates as Iran war pushes up costs Negative Sentiment: Reaction: shares slipped as investors focused on the mixed guidance and margin pressure despite the revenue beat—creating short‑term downside even with constructive demand trends. Ecolab slips after in-line Q1; Q2 earnings guidance mostly below consensus Insider Transactions at Ecolab In other news, Director Tracy B. Mckibben sold 1,265 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $308.66, for a total transaction of $390,454.90. Following the transaction, the director directly owned 11,358 shares of the company’s stock, valued at approximately $3,505,760.28. This trade represents a 10.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christophe Beck sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $307.37, for a total value of $6,147,400.00. Following the transaction, the chief executive officer directly owned 90,794 shares in the company, valued at $27,907,351.78. This trade represents a 18.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets ECL has been the topic of a number of recent analyst reports. Weiss Ratings downgraded Ecolab from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, April 21st. UBS Group lowered their price objective on Ecolab from $312.00 to $293.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. BMO Capital Markets increased their price objective on Ecolab from $323.00 to $345.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft upgraded Ecolab from a “hold” rating to a “buy” rating and set a $325.00 price objective on the stock in a research report on Monday, April 20th. Finally, Citigroup lowered their price objective on Ecolab from $345.00 to $330.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $322.82.

View Our Latest Report on ECL

Ecolab Trading Down 0.4% Shares of ECL stock opened at $266.88 on Wednesday. The business’s fifty day moving average is $277.47 and its 200 day moving average is $273.46. Ecolab Inc. has a 52-week low of $240.92 and a 52-week high of $309.27. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.81 and a current ratio of 1.08. The company has a market capitalization of $75.37 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 2.12 and a beta of 1.02.

Ecolab (NYSE:ECL – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $1.70 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.70. Ecolab had a return on equity of 22.73% and a net margin of 12.91%.The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the business posted $1.50 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Ecolab has set its FY 2026 guidance at 8.430-8.630 EPS and its Q2 2026 guidance at 2.020-2.120 EPS. On average, equities research analysts anticipate that Ecolab Inc. will post 8.45 EPS for the current fiscal year.

Ecolab Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 17th were given a dividend of $0.73 per share. The ex-dividend date was Tuesday, March 17th. This represents a $2.92 dividend on an annualized basis and a yield of 1.1%. Ecolab’s dividend payout ratio (DPR) is presently 40.11%.

Ecolab Profile (Free Report)

Ecolab, Inc is a global provider of water, hygiene and infection prevention solutions and services. The company develops and supplies cleaning and sanitizing chemicals, dispensing equipment, water-treatment systems, pest elimination services and related technologies designed to help businesses maintain clean, safe and efficient operations. Its offerings span both products and onsite services, often paired with technical support and training.

Ecolab serves a broad range of end markets including hospitality and foodservice, food and beverage processing, healthcare, manufacturing and industrial operations, and energy and utilities.

Featured Stories Five stocks we like better than Ecolab Want to see what other hedge funds are holding ECL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ecolab Inc. (NYSE:ECL – Free Report).

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ST. PAUL, Minn.--(BUSINESS WIRE)--Ecolab will host a live webcast of its annual meeting of stockholders. As indicated in our proxy statement, the 2026 Annual Meeting of Stockholders will be a virtual-only meeting.

Details for the public webcast are as follows:

TIME:

9:30 a.m. Central Time

DATE:

Thursday, May 7, 2026

DURATION:

Approximately 30 minutes

LOCATION:

www.virtualshareholdermeeting.com/ECL2026

ARCHIVE:

A replay of the webcast will be available 24 hours after the end of the meeting

To be admitted to the Annual Meeting at www.virtualshareholdermeeting.com/ECL2026, and to participate and ask questions during the meeting, a stockholder must enter the 16-digit control number found on the proxy card, voting instruction form or notice of internet availability previously mailed or made available to stockholders.

Stockholders and other interested parties may also register as guests in listen only mode without the 16-digit control number.

Online access to the audio webcast will open 15 minutes prior to the start of the 2026 Annual Meeting.

About Ecolab

A trusted partner for millions of customers, Ecolab (NYSE:ECL) is a global leader in water, hygiene and infection prevention solutions and services that protect people and the resources vital to life. For more than a century, Ecolab has advanced innovation by integrating science-based solutions, data driven insights, AI technology and world-class service. This unique combination enables Ecolab to partner with customers to define what best-in-class looks like and scale it across their operations, helping them achieve peak performance. Today, Ecolab delivers $16 billion in annual sales, employs 48,000 associates and serves customers in more than 170 countries and 40 industries. The company helps protect one-third of the world’s food production and a quarter of the power generated while delivering innovative solutions across food, hospitality, healthcare, data centers, microelectronics and life sciences. As the world’s water company, Ecolab plays an important role in AI growth by supporting the full water needs of advanced computing—from ultra pure water for chip manufacturing, to water solutions that support the power behind AI, to direct liquid cooling systems for high density computing that improves performance while reducing environmental impact through circular water use. In life sciences, Ecolab delivers end to end solutions that support the development and manufacturing of life-saving drugs, helping customers operate safely and consistently at scale while improving performance and reducing environmental impact. Through its comprehensive approach, Ecolab 8 protects what’s vital, with a goal by 2030 to help protect 2 billion people from infections and conserve enough drinking water for 1 billion people, while continuing to enhance business performance.

Ecolab. Protecting What’s Vital.

www.ecolab.com

(ECL-C)

More News From Ecolab Inc.

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2 hours ago

Lennar (NYSE:LEN) Updates Q3 2026 Earnings GuidanceLennar (NYSE:LEN) updated its third quarter 2026 earnings guidance. The company provided EPS guidance of 1.200-1.400 for the period, compared to the consensus estimate of 1.710.

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MSA Safety Incorporporated (NYSE:MSA) CFO Acquires $71,093.12 in StockMarketBeat

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) CFO Julie Beck bought 448 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $158.69 per share, with a total value of $71,093.12. Following the completion of the purchase, the chief financial officer owned 3,825 shares of the company's stock, valued at $606,989.25. This represents a 13.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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Read MSA Safety Incorporporated (NYSE:MSA) CFO Acquires $71,093.12 in Stock

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NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) Director Heidi Hoeller sold 2,100 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $48.03, for a total transaction of $100,863.00. Following the transaction, the director owned 11,560 shares of the company's stock, valued at approximately $555,226.80. This represents a 15.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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Douglas Milne Sells 1,600 Shares of IGM Financial (TSE:IGM) StockMarketBeat

IGM Financial Inc. (TSE:IGM - Get Free Report) Director Douglas Milne sold 1,600 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of C$80.61, for a total value of C$128,976.00. Following the sale, the director directly owned 800 shares in the company, valued at C$64,488. The trade was a 66.67% decrease in their ownership of the stock.

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Read Douglas Milne Sells 1,600 Shares of IGM Financial (TSE:IGM) Stock

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Key Takeaways Following insider buys is a solid way to gauge long-term sentiment on a stock. Many strict rules apply to insiders, with a much longer holding period than most. CHTR, WCN, and ECL have all seen insiders step up. Many investors keep a close eye on insider transactions, as they can often give a decent read surrounding the longer-term picture.

Of course, it’s important to note that insiders have a longer holding period than most, and many strict rules apply to their transactions.

Recently, insiders of several companies – Charter Communications (CHTR - Free Report) , Waste Connections (WCN - Free Report) , and Ecolab (ECL - Free Report) – have made splashes, acquiring shares. Let’s take a closer look at the transactions for those interested in trading like the insiders.

Ecolab Director BuysEcolab shares had a strong start to 2026 before cooling off in recent months, overall down 6% and underperforming relative to the S&P 500. A director recently picked up 1k shares at an overall transaction value of just over $250k, bringing their total shares held to roughly 25k.

The share's weakness over the last several months could have reflected an enticing opportunity for the director, with the growth picture remaining decently solid for a company residing in the Basic Materials sector. EPS is expected to grow by 13% in its current fiscal year and 14% in FY27, with sales expected to be up 9% in FY26 and 5.4% in FY27, respectively.

Shares also pay a nice dividend, currently yielding 1.2% annually. Dividend growth is also there, with Ecolab sporting an 8.8% five-year annualized dividend growth rate. Below is a chart illustrating the company’s dividends/share on a quarterly basis.

Image Source: Zacks Investment Research

Charter Communications Director Makes Big SplashA director of Charter Communications made a big splash recently, acquiring nearly 10k shares at an overall transaction value of just under $1.4 million. The director now holds approximately 19.3k shares, with the buy essentially doubling their position.

CHTR shares have had a tough ride in 2026 so far, down nearly 33% and facing big pressure after its latest set of quarterly results. Sales growth is expected to be flat for its current and next fiscal years, but earnings are still forecasted to grow 19% and 11%, respectively. While the improving profitability picture is a nice positive, the weak sales growth is a big factor that’s weighed on overall sentiment.

Image Source: Zacks Investment Research

That said, the recent insider buys do help instill a level of confidence from a long-term perspective, but it’s more beneficial to simply keep an eye on the stock for now and wait until a positive set of quarterly results rolls in to help confirm a turnaround in its revenue outlook.

Waste Connections CEO BuysThe CEO of Waste Connections recently dove in with a sizable 50k share purchase, with the overall transaction value coming in at roughly $7.6 million. They now hold just over 300k WCN shares, with the recent purchase increasing their position by a fairly large margin.

WCN shares have also faced some adverse action in 2026, down over 9% and underperforming relative to the S&P 500. But the growth picture still remains solid, with earnings forecasted to grow 7% in its current FY26 and then see an acceleration to a 12.3% growth rate in 2027. Concerning the top line, sales are expected to grow 5.6% in FY26 and 6% in FY27.

Sales growth has remained steady over recent years, with shares also currently yielding 0.8% annually. It's shown a strong commitment to increasingly rewarding shareholders, boasting a 11.5% five-year annualized dividend growth rate.

Image Source: Zacks Investment Research

Bottom Line

Many investors closely monitor insider buys, looking to receive insights into the longer-term picture. The transactions shouldn’t be relied on for near-term performance, as insiders’ holding periods are longer than most, and many strict rules apply.

Rather, investors can see insider buys as an overall net positive concerning the longer-term outlook.

All stocks above – Charter Communications (CHTR - Free Report) , Waste Connections (WCN - Free Report) , and Ecolab (ECL - Free Report) – have seen recent insider activity.

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ST. PAUL, Minn.--(BUSINESS WIRE)--Scott Kirkland, CFO, will address financial analysts at the William Blair Annual Growth Stock Conference on Tuesday June 2, 2026. Ecolab will offer a webcast of Mr. Kirkland’s presentation. Details for the webcast are as follows:

To access the webcast, visit the Events & Presentations section of Ecolab’s Investor website at www.ecolab.com/investor and click on the webcast details.

About Ecolab

A trusted partner for millions of customers, Ecolab (NYSE:ECL) is a global leader in water, hygiene and infection prevention solutions and services that protect people and the resources vital to life. For more than a century, Ecolab has advanced innovation by integrating science-based solutions, data driven insights, AI technology and world-class service. This unique combination enables Ecolab to partner with customers to define what best-in-class looks like and scale it across their operations, helping them achieve peak performance. Today, Ecolab delivers $16 billion in annual sales, employs 48,000 associates and serves customers in more than 170 countries and 40 industries. The company helps protect one-third of the world’s food production and a quarter of the power generated while delivering innovative solutions across food, hospitality, healthcare, data centers, microelectronics and life sciences. As the world’s water company, Ecolab plays an important role in AI growth by supporting the full water needs of advanced computing—from ultra pure water for chip manufacturing, to water solutions that support the power behind AI, to direct liquid cooling systems for high density computing that improves performance while reducing environmental impact through circular water use. In life sciences, Ecolab delivers end to end solutions that support the development and manufacturing of life-saving drugs, helping customers operate safely and consistently at scale while improving performance and reducing environmental impact. Through its comprehensive approach, Ecolab protects what’s vital, with a goal by 2030 to help protect 2 billion people from infections and conserve enough drinking water for 1 billion people, while continuing to enhance business performance. www.ecolab.com

Follow us on LinkedIn @Ecolab, Instagram @Ecolab_Inc and Facebook @Ecolab.

(ECL-C)

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Ecolab Inc. (ECL) Presents at 46th Annual William Blair Growth Stock Conference Transcript