RTTNews | Oct 26, 2021 09:34AM EDT

09:33 Tuesday, October 26, 2021 (RTTNews.com) - Ecolab (ECL) said its third quarter adjusted earnings per share from continuing operations were up 20% from last year. The company said the strong increase reflects the accelerated pricing and volume growth that more than offset significantly higher delivered product costs, and a lower than estimated unfavorable impact from Hurricane Ida of $0.03 per share. Reported sales from continuing operations were up 10%.

Looking forward, Ecolab continues to expect strong year-on-year growth in the fourth quarter led by increased volume and price momentum. The company expects fourth quarter earnings to grow double digits, though not as strongly as the third quarter.

Ecolab continues to expect the full year 2021 to show a strong increase over 2020, more than offsetting the delivered product and other cost increases which are estimated to reach a combined unfavorable impact approximating $0.90 per share in the current year, most of which the company has mitigated.

Third quarter adjusted earnings per share from continuing operations was $1.38, compared to $1.15, last year. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $1.30, for the quarter. Analysts' estimates typically exclude special items.

Net sales were $3.32 billion, up 10%. Analysts expected revenue of $3.27 billion, for the quarter. Fixed currency and acquisition adjusted fixed currency sales both increased 8%.

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