Stock Monitor: Aemetis Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 21, 2018 / If you want access to our free earnings report on Ecolab Inc. (NYSE: ECL), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ECL. The Company posted its financial results on May 01, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The Saint Paul, Minnesota-based Company's net sales and adjusted diluted earnings per share (EPS) rose 10% and 14% y-o-y, respectively, beating market consensus estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
For Q1 FY18, Ecolab's net sales increased to $3.47 billion from $3.16 billion in Q1 FY17. The Company's net sales for the reported quarter topped market expectations of $3.37 billion.
The cleaning, food-safety, and pest-control services Company reported a net income attributable to common shareholders of $247.3 million, or $0.84 per diluted share, in Q1 FY18 compared to $254.0 million, or $0.86 per diluted share, in Q1 FY17. The Company's adjusted net income was $266.9 million, or $0.91 per diluted share, in Q1 FY18 compared to $236.4 million, or $0.80 per diluted share, in Q1 FY17. Meanwhile, Wall Street had expected the Company to report an adjusted net income of $0.88 per diluted share.
During Q1 FY18, Ecolab incurred selling, general, and administrative expenses (SG&A) of $1.01 billion compared to $947.2 million in Q1 FY17. The Company's operating income stood at $354.3 million in Q1 FY18 versus $357.2 million in Q1 FY17. Furthermore, the Company's adjusted operating income was $380.3 million in the reported quarter compared to $364.9 million in the prior year's same quarter.
Ecolab's Global Industrial segment's sales grew to $1.24 billion during Q1 FY18 from $1.18 billion in the prior year's comparable quarter. However, the segment's operating income fell to $129.9 million, or 10.5% of segment sales, in Q1 FY18 from $135.6 million, or 11.5% of segment sales, in Q1 FY17.
For the reported period, the Company's Global Institutional segment's sales were $1.22 billion, which rose 9% from $1.11 billion in Q1 FY17. The segment reported an operating income of $198.7 million, or 16.3% of segment sales, in Q1 FY18 compared to $186.8 million, or 16.8% of segment sales, in the year ago corresponding quarter.
During Q1 FY18, Global Energy segment's sales also grew 9% to $847.1 million from $775.7 million in the last year's same quarter. The segment's operating income came in flat at $70.9 million, or 8.4% of segment sales, in Q1 FY18 versus $70.9 million, or 9.1% of segment sales, in Q1 FY17.
Cash Flow and Balance Sheet
During the quarter ended March 31, 2018, Ecolab's cash provided by operating activities was $487.2 million compared to $425.7 million in in the year ago same period. The Company had cash, cash equivalents, and restricted cash balance of $175.5 million as on March 31, 2018, compared to $211.4 million at the close of books as on December 31, 2017. Furthermore, the Company's long-term debt decreased to $6.40 billion as on March 31, 2018, from $6.76 billion as on December 31, 2017.
In a separate press release on May 03, 2018, Ecolab's Board of Directors declared a regular quarterly cash dividend of $0.41 per common share, payable on July 16, 2018, to shareholders of record at the close of business on June 19, 2018.
In its guidance for the full year FY18, Ecolab's management expects adjusted diluted EPS to be in the range of $5.30 to $5.50, rising 18% y-o-y and also above the prior outlook range of $5.25 to $5.45. Furthermore, the Company forecasts adjusted gross margin, excluding special gains and charges, to be approximately 42%.
For Q2 FY18, the Company projects adjusted diluted EPS to be in the range of $1.23 to $1.29, with adjusted gross margin, excluding special gains and charges, of approximately 42%.
Stock Performance Snapshot
May 18, 2018 - At Friday's closing bell, Ecolab's stock was marginally up 0.52%, ending the trading session at $147.83.
Volume traded for the day: 1.02 million shares.
Stock performance in the last three-month – up 12.43%; previous six-month period – up 13.51%; past twelve-month period – up 16.64%; and year-to-date – up 10.17%
After last Friday's close, Ecolab's market cap was at $42.66 billion.
Price to Earnings (P/E) ratio was at 32.34.
The stock has a dividend yield of 1.11%.
The stock is part of the Basic Materials sector, categorized under the Specialty Chemicals industry.
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