SAINT PAUL, Minn. (AP) _ Ecolab Inc. (ECL) on Tuesday reported first-quarter profit of $296.5 million.
On a per-share basis, the Saint Paul, Minnesota-based company said it had net income of $1.01. Earnings, adjusted for one-time gains and costs, came to $1.03 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.02 per share.
The cleaning, food-safety and pest-control services company posted revenue of $3.51 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $3.57 billion.
For the current quarter ending in July, Ecolab expects its per-share earnings to range from $5.80 to $6. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.42.
Ecolab shares have increased 25% since the beginning of the year, while the Standard & Poor's 500 index has risen 17%. The stock has increased 26% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ECL at https://www.zacks.com/ap/ECL