Ecolab Inc.
ECL · NYSE
Next quarter
Reports Oct 27, 2026.
Consensus is $2.18 EPS for Sep 2026 across 9 estimates, ranging $2.16 to $2.23.
ECL Jun 2026
- 0.48%
- +0.28%
- $2.08
- $2.09
- —
- $4.42B
Reported results
- $4.42B
- 44.07%
- $757.90M
- 17.16%
- $534.90M
- $1.90
Highlights
- Second-quarter revenue was $4.42B, compared with $4.03B in Q2 FY2025 and $4.07B in Q1 FY2026.
- Net income was $0.53B, versus $0.52B in Q2 FY2025 and $0.43B in Q1 FY2026; no consensus figures are on file.
- The filing does not provide reportable-segment revenue, segment operating income, or margin figures for the quarter.
- One Ecolab restructuring charges were $23.9 million in the quarter and $51.4 million in the first six months; cumulative restructuring charges reached $250.2 million.
- Ecolab completed the $4.75 billion CoolIT Systems acquisition on July 2, 2026, funded partly by $5.0 billion of senior-note proceeds; no earnings or capex guidance was provided in the supplied material.
Analysis
No consensus figures are on file, so the quarter cannot be assessed against expectations. Revenue was $4.42B, up from $4.03B in the year-ago quarter and $4.07B in Q1 FY2026, while net income was $0.53B, compared with $0.52B a year earlier and $0.43B sequentially. The supplied filing does not include reportable-segment revenue, operating income, or margin data, so it does not establish which businesses carried or dragged results. Reported earnings also reflected substantial restructuring and other special activity: One Ecolab restructuring charges were $23.9 million in the quarter, non-restructuring special charges were $4.9 million, other restructuring charges were $4.1 million, and acquisition-related costs were $4.6 million. Interest expense, net rose to $73.1 million from $63.2 million, including $6.6 million of special interest charges related to debt used for the CoolIT Systems acquisition.
Guidance
No forward revenue, earnings, margin, segment, or capital-expenditure guidance was provided in the supplied material, and there is no prior management guide to compare against. The filing does state that Ecolab anticipates total One Ecolab restructuring costs of $328 million and special charges of $97 million by the end of 2027, with restructuring costs expected to be primarily cash severance expenditures. The remaining One Ecolab restructuring liability was $83.4 million at June 30, 2026, expected to be paid over a few months to several quarters. CoolIT Systems becomes part of Global Water beginning in Q3 FY2026.
What drove it
- Quarterly Revenue — Revenue was $4.42B in Q2 FY2026, compared with $4.03B in Q2 FY2025.
- Net Income — Net income was $0.53B, compared with $0.52B in the year-ago quarter and $0.43B in Q1 FY2026.
- One Ecolab — The initiative generated $23.9 million of restructuring charges in the quarter and has accumulated $250.2 million of restructuring charges.
- CoolIT Acquisition — Ecolab completed the CoolIT Systems acquisition for $4.75 billion on July 2, 2026, with the business joining Global Water in Q3 FY2026.
- Interest Expense — Interest expense, net was $73.1 million in Q2 FY2026, compared with $63.2 million in Q2 FY2025.
Watch items
- The supplied material does not provide segment revenue, operating income, or margin data, limiting visibility into the sources and quality of the quarter's revenue increase.
- One Ecolab restructuring remains a cash burden, with $328 million of total restructuring costs anticipated by the end of 2027 and an $83.4 million liability outstanding at June 30, 2026.
- Debt increased to $13,170.8 million from $8,125.3 million at December 31, 2025, while Q2 interest expense, net rose to $73.1 million from $63.2 million.
- Ovivo Electronics purchase accounting remains preliminary, and the company said recorded fair values are subject to change as valuations and policy reviews are completed.
