Slide 1: Ecolab Second Quarter 2025 Supplemental
1 ECOLAB Second Quarter 2025 Supplemental
Slide 2: Cautionary statement
Cautionary statement Forward-Looking Information This communication contains forward looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding macroeconomic conditions and
Slide 3: Expect to deliver continued 12-15% EPS growth
Expect to deliver continued 12-15% EPS growth Reported diluted EPS $1.84; adjusted diluted EPS $1.89, +13% As expected, Ecolab delivered another strong quarter of double-digit EPS growth Performance was driven by value pricing, volume growth, and productivity improvements Solid organic sales gro
Slide 4: 2Q overview
2Q overview Solid performance with reported sales +1% and organic sales +3% o Volume +1%, driven by good new business and breakthrough innovation o Pricing +2%, supported by ongoing customer value delivery Organic growth led by Institutional & Specialty, Pest Elimination, and Life Sciences o Wat
Slide 5: Expect strong 3Q and 2025 performance
Expect strong 3Q and 2025 performance Secular growth trends in water, hygiene, infection prevention, and digital technologies continue to fuel resilient, long-term demand for Ecolab’s innovative technologies and services. Strong momentum in Ecolab’s growth engines, which include Life Sciences, Pes
Slide 6: 2Q 2025 sales growth detail
2Q 2025 sales growth detail Fixed Rate Organic % Change % Change % Change Global Water Consolidated Light & Heavy 4% 2% Volume 1% Food & Beverage 3% 3% Pricing 2% Paper -3% -3% Organic 3% Total Global Water 2% 2% Acq./Div. -2% Fixed currency growth 1% Global Institutional & Specialty Currency impact
Slide 7: Global Water Segment
Global Water Segment Sales +2% Light & Heavy Modest growth in light and heavy reflected continued double-digit growth in Global High-Tech and solid Manufacturing sales growth, which more than offset continued soft end-market demand in Basic Industries and Mining. o Manufacturing: Solid growth driv
Slide 8: Global Water Segment
Global Water Segment Sales +3% Food & Beverage Organic sales growth accelerated driven by value pricing and new business wins. Growth was led by good gains in beverage & brewing, dairy, and food. Regionally, sales growth improved in North America, Latin America, and IMEA, while sales grew modest
Slide 9: Global Institutional & Specialty Segment
Global Institutional & Specialty Segment Sales +3% Institutional Beginning in 2025, Ecolab’s healthcare business is being reported within the Institutional division. As expected, mid-single digit growth in sales to hospitality customers was partially offset by modestly lower sales to hospitals. o
Slide 10: Global Pest Elimination Segment
Global Pest Elimination Segment Sales +6% Pest Elimination Organic sales growth improved, led by good gains in food & beverage, restaurants, and healthcare, and improved growth in food retail. To fuel continued strong long-term growth and market share gains, our focus is on rapidly accelerating
Slide 11: Global Life Sciences Segment
Global Life Sciences Segment Sales +4% Life Sciences Solid sales growth reflected continued good new business wins that leverage our innovation, investments in new capabilities, and progressively improving industry trends. Double-digit growth in bioprocessing and pharmaceutical & personal care m
Slide 12: Segment operating income performance
Segment operating income performance ($ millions – fixed currency, unaudited) Global Water 2Q 2025 2Q 2024 Change Global Institutional & Specialty 2Q 2025 2Q 2024 Change Operating income $306.3 $288.6 6% Operating income $359.4 $329.5 9% Operating income margin 16.0% 15.5% 50 bps Operating income ma
Slide 13: Consolidated margin performance
Consolidated margin performance $ millions, unaudited 2Q 2025 2Q 2024 Change Gross Margin Gross profit $1,802.4 $1,744.8 3% Gross margin expanded significantly, reflecting strong value Gross margin 44.8% 43.8% 100 bps pricing. Adjusted gross profit $1,804.9 $1,745.5 3% Adjusted gross margin 44.8%
Slide 14: Balance sheet / cash flow
Balance sheet / cash flow Summary Balance Sheet June 30 June 30 (millions, unaudited) 2025 2024 (millions, unaudited) 2025 2024 Cash and cash eq. $1,920.9 $384.0 Short-term debt $688.5 $5.9 Accounts receivable, net 3,058.9 2,876.3 Accounts payable 1,883.5 1,690.7 Inventories 1,569.4 1,505.9 Liabilit
Slide 15: Non-GAAP financial measures
Non-GAAP financial measures Second Quarter Ended Six Months Ended June 30 June 30 (millions, except percent and per share) 2025 2024 2025 2024 Net sales Reported GAAP net sales $4,025.2 $3,985.8 $7,720.2 $7,737.7 Effect of foreign currency translation (117.0) (114.5) (159.9) (244.9) Non-GAAP fixed c
Slide 16: Non-GAAP financial measures
Non-GAAP financial measures Second Quarter Ended Six Months Ended June 30 June 30 (millions, except percent and per share) 2025 2024 2025 2024 Operating income Reported GAAP operating income $710.1 $656.9 $1,265.4 $1,174.8 Special (gains) and charges at public currency rates 27.1 12.9 61.4 42.7 Non-
Slide 17: Non-GAAP financial measures
Non-GAAP financial measures Second Quarter Ended Six Months Ended June 30 June 30 (millions, except percent and per share) 2025 2024 2025 2024 Diluted EPS attributable to Ecolab Reported GAAP diluted EPS $1.84 $1.71 $3.25 $3.14 Special (gains) and charges, after tax 0.07 - 0.16 0.08 Discrete tax net
Slide 18: Non-GAAP financial measures
Non-GAAP financial measures Second Quarter Ended June 30 2025 2024 EBITDA (trailing twelve months ended) Net income including non-controlling interest $2,155.3 $1,731.8 Provision for income taxes 536.2 361.5 Interest expense, net 253.6 295.1 Depreciation 645.9 622.3 Amortization 297.5 307.4 EBITDA $
Slide 19: Non-GAAP financial measures
Non-GAAP financial measures Second Quarter Ended June 30 2025 2024 Impact of Acquisitions and Impact of Acquisitions and (millions) Fixed Currency Divestitures Organic Fixed Currency Divestitures Organic Net Sales Global Water $1,908.5 ($22.2) $1,886.3 $1,863.2 ($7.8) $1,855.4 Global Institutional &
Slide 20: Non-GAAP financial information
Non-GAAP financial information Non-GAAP Financial Information: This communication 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 includ
Slide 21: Non-GAAP financial information (cont.)
Non-GAAP financial information (cont.) Non-GAAP Financial Information (Continued): 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 measu