Ecolab Inc. · NYSE:ECL
Ecolab — Q3 2026 Earnings Presentation
23 slides from Ecolab's earnings presentation, Oct 27, 2026
Slide 1: Third Quarter 2026 Supplemental
Third Quarter 2026 Supplemental October 27, 2026 1 1
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: Strong performance, accelerating growth trajectory
Strong performance, accelerating growth trajectory STRONG ACCELERATING DURABLE PERFORMANCE MOMENTUM MODEL Accelerating growth Strengthening core Balanced portfolio Expanding margins Scaling growth engines Technology enabled 3
Slide 4: Broad-based sales and OI growth acceleration
Broad-based sales and OI growth acceleration Reported diluted EPS $1.95; adjusted diluted EPS $2.18, +5% ▪ Strong execution drove broad-based acceleration, with reported sales growth of 13% and organic sales growth accelerating to 7%. Volume growth strengthened to 2% despite ongoing Middle East disr
Slide 5: 3Q overview
3Q overview ▪ Reported sales +13%; organic sales accelerated to +7% ◦ Volume accelerated to +2%, as strong new business wins overcame ongoing disruptions in the Middle East. ◦ Pricing strengthened to +5%, reflecting strong pricing execution. ▪ Broad-based organic sales growth acceleration Sales ◦ Wa
Slide 6: Strong 2026 outlook, driven by accelerating sales growth
Strong 2026 outlook, driven by accelerating sales growth ▪ Long-term growth trends in water, hygiene, infection prevention, and digital technologies continue to fuel durable demand for Ecolab’s innovative technologies and services. Strong momentum in Ecolab’s growth engines, which include Global Hig
Slide 7: 4Q 2026 guidance and long-term targets
4Q 2026 guidance and long-term targets 4Q 2026 Guidance Long-Term Targets Reported sales growth +12% to 14% +5-7% ORGANIC Organic sales growth +6% to 7% SALES GROWTH Adj. OI margin 19% >20% OI MARGIN Organic OI margin 20% +100-150 BPS PER YEAR Adj. tax rate 20% to 21% +12-15% ADJUSTED Full-year Adj.
Slide 8: 3Q 2026 sales growth detail
3Q 2026 sales growth detail Fixed Rate Organic % Change % Change % Change Global Water Consolidated Food & Beverage 8% 8% Volume 2% Heavy Water 4% 4% Pricing 5% High-Tech 293% 63% Organic 7% Light Water 5% 5% Acq./Div. 6% Paper 6% 6% Fixed currency growth 13% Total Global Water 20% 9% Currency impac
Slide 9: Global Water Segment
Global Water Segment Sales +8% Food & Beverage ▪ Organic sales growth accelerated, continuing to significantly outperform stable market trends. ▪ Growth was strong and broad-based across all major end-markets, driven by robust new business wins and improved pricing. ▪ We continue to benefit from our
Slide 10: Global Water Segment
Global Water Segment Sales +63% High-Tech ▪ Fixed currency sales increased 293%, reflecting the acquisition of Ovivo Electronics and CoolIT. Accelerated organic sales growth reflected robust and broad-based new business wins across data centers and microelectronics. ▪ Data Centers: Accelerated and b
Slide 11: Global Water Segment
Global Water Segment Sales +6% Paper ▪ As expected, Paper's performance continued to strengthen, with solid growth reflecting good new business wins and stable customer production rates. ▪ Accelerating growth was driven by very strong performance in board, packaging and pulp. ▪ While production rate
Slide 12: Global Institutional & Specialty Segment
Global Institutional & Specialty Segment Sales +2% Institutional ▪ Institutional delivered steady performance as strong pricing and new business wins more than offset increasingly challenging industry trends, including a mid-single-digit decline in North America restaurant foot traffic. ◦ Hospitalit
Slide 13: Global Pest Elimination Segment
Global Pest Elimination Segment Sales +8% Pest Elimination ▪ Accelerated organic growth was led by robust new business in food & beverage, food retail, and restaurants. This strong and broad-based performance continues to benefit from our One Ecolab enterprise selling approach. ▪ To fuel continued s
Slide 14: Global Life Sciences Segment
Global Life Sciences Segment Sales +17% Life Sciences ▪ Accelerated sales growth reflected very strong new business wins that leverage our innovation and investments in new capabilities and capacity. ▪ Performance was driven by continued robust share gains in bioprocessing, personal care, and purifi
Slide 15: Segment operating income performance
Segment operating income performance ($ millions – fixed currency, unaudited) Global Water 3Q 2026 3Q 2025 Change Global Institutional & Specialty 3Q 2026 3Q 2025 Change Operating income $445.2 $357.9 24% Operating income $404.9 $376.3 8% Operating income margin 18.0% 17.4% 60 bps Operating income m
Slide 16: Consolidated margin performance
Consolidated margin performance $ millions, unaudited 3Q 2026 3Q 2025 Change Gross Margin Gross profit $2,069.3 $1,865.6 11% ▪ As expected, gross margin declined due to the impact of recent acquisitions. Organic gross margin was stable as accelerating Gross margin 44.1% 44.8% -70 bps pricing offset
Slide 17: Balance sheet / cash flow
Balance sheet / cash flow Summary Balance Sheet September 30 September 30 (millions, unaudited) 2026 2025 (millions, unaudited) 2026 2025 Cash and cash eq. $722.3 $1,955.8 Short-term debt $1,276.7 $16.2 Accounts receivable, net 3,795.4 3,114.1 Accounts payable 2,339.5 1,868.4 Inventories 1,764.8 1,5
Slide 18: Non-GAAP financial measures
Non-GAAP financial measures Third Quarter Ended September 30 (millions, except percent and per share) 2026 2025 Net sales Reported GAAP net sales $4,694.8 $4,165.0 Effect of foreign currency translation 2.4 9.9 Non-GAAP fixed currency sales 4,697.2 4,174.9 Effect of acquisitions and divestitures (24
Slide 19: Non-GAAP financial measures
Non-GAAP financial measures Third Quarter Ended September 30 (millions, except percent and per share) 2026 2025 Operating income Reported GAAP operating income $810.5 $760.2 Special (gains) and charges at public currency rates 82.9 26.5 Non-GAAP adjusted operating income 893.4 786.7 Effect of foreig
Slide 20: Non-GAAP financial measures
Non-GAAP financial measures Third Quarter Ended (millions) September 30 2026 2025 EBITDA (trailing twelve months ended) Net income including non-controlling interest $2,098.3 $2,004.2 Provision for income taxes 508.2 417.7 Interest expense, net 334.9 238.5 Depreciation 724.2 655.0 Amortization 351.2
Slide 21: Non-GAAP financial measures
Non-GAAP financial measures Third Quarter Ended September 30 2026 2025 Impact of Acquisitions Impact of Acquisitions (millions) Fixed Currency and Divestitures Organic Fixed Currency and Divestitures Organic Net Sales Global Water $2,479.6 ($240.2) $2,239.4 $2,061.0 $- $2,061.0 Global Institutional
Slide 22: 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 may in
Slide 23: Non-GAAP financial information (cont.)
Non-GAAP financial information (cont.) Non-GAAP Financial Information (Continued): Our non-GAAP financial measures for adjusted gross margin, adjusted gross profit and adjusted operating income exclude the impact of special (gains) and charges, and our non-GAAP financial measures for adjusted tax ra