Slide 1: Ecolab First Quarter 2025 Supplemental
1 ECOLAB First 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 $1.41; Adjusted diluted EPS $1.50, +12% Delivered another strong quarter of double-digit EPS growth Continued value pricing, volume growth, and productivity improvements more than offset end market demand that softened during the
Slide 4: 1Q overview
1Q overview Solid performance with reported sales -2% and organic sales +3% o Volume +1%, as continued good new business and breakthrough innovation overcame softer end market demand o Pricing +2%, supported by ongoing customer value delivery Organic growth led by Institutional & Specialty, Pest
Slide 5: Expect strong 2Q and 2025 performance
Expect strong 2Q and 2025 performance Secular growth trends in water, hygiene, and infection prevention continue to fuel resilient, long-term demand for Ecolab’s innovative technologies and services. Momentum in new growth verticals across digital, data centers, microelectronics, and life sciences
Slide 6: 1Q 2025 sales growth detail
1Q 2025 sales growth detail Fixed Rate Organic % Change % Change % Change Global Water Consolidated Light & Heavy 4% 3% Volume 1% Food & Beverage 2% 2% Pricing 2% Paper 0% 0% Organic 3% Total Global Water 3% 2% Acq./Div. -2% Fixed currency growth 1% Global Institutional & Specialty Currency impact -
Slide 7: Global Water Segment: Light & Heavy
Global Water Segment Sales +3% Light & Heavy Solid growth in light and heavy. reflected accelerating double-digit growth in high tech and solid gains in manufacturing and downstream, which more than offset slightly lower sales in basic industries o Manufacturing: Solid growth was driven by continu
Slide 8: Global Water Segment: Food & Beverage and Paper
Global Water Segment Sales +2% Food & Beverage Organic sales grew modestly as continued value pricing and new business wins overcame end market demand that softened further during the quarter. Growth was led by good gains in beverage & brewing and food, partially offset by softer dairy and protein
Slide 9: Global Institutional & Specialty Segment
Global Institutional & Specialty Segment Sales +4% Institutional Beginning in the first quarter, Ecolab’s healthcare business is being reported within the Institutional division. As expected, first quarter performance reflected 5% organic growth in the legacy Institutional business and a modest de
Slide 10: Global Pest Elimination Segment
Global Pest Elimination Segment Sales +5% Pest Elimination Good organic sales growth reflected gains across food & beverage, restaurants, and hospitality, which more than offset slightly softer performance in food retail. To fuel continued strong long-term growth and market share gains, our focu
Slide 11: Global Life Sciences Segment
Global Life Sciences Segment Sales +5% Life Sciences Solid sales growth reflected continued good new business wins that leverage our innovation, investments in new capabilities, and progressively improving industry trends. The long-term growth opportunities for the Life Sciences industry are ver
Slide 12: Segment operating income performance
Segment operating income performance ($ millions – fixed currency, unaudited) Global Water 1Q 2025 1Q 2024 Change Global Institutional & Specialty 1Q 2025 1Q 2024 Change Operating income $260.0 $243.6 7% Operating income $298.6 $257.4 16% Operating income margin 14.4% 13.9% 50 bps Operating income m
Slide 13: Consolidated margin performance
Consolidated margin performance $ millions, unaudited 1Q 2025 1Q 2024 Change Gross Margin Gross profit $1,634.8 $1,623.8 1% Gross margin expanded significantly, reflecting strong value Gross margin 44.2% 43.3% 90 bps pricing. Adjusted gross profit $1,639.6 $1,625.4 1% Adjusted gross margin 44.4% 4
Slide 14: Balance sheet / cash flow
Balance sheet / cash flow Summary Balance Sheet March 31 March 31 (millions, unaudited) 2025 2024 (millions, unaudited) 2025 2024 Cash and cash eq. $1,162.6 $479.9 Short-term debt $614.2 $11.3 Accounts receivable, net 2,857.1 2,786.6 Accounts payable 1,765.6 1,607.1 Inventories 1,547.2 1,565.9 Other
Slide 15: Non-GAAP financial measures
Non-GAAP financial measures First Quarter Ended March 31 (millions, except percent and per share) 2025 2024 Net sales Reported GAAP net sales $3,695.0 $3,751.9 Effect of foreign currency translation (42.9) (130.4) Non-GAAP fixed currency sales 3,652.1 3,621.5 Effect of acquisitions and divestitures
Slide 16: Non-GAAP financial measures
Non-GAAP financial measures First Quarter Ended March 31 (millions, except percent and per share) 2025 2024 Operating income Reported GAAP operating income $555.3 $517.9 Special (gains) and charges at public currency rates 34.3 29.8 Non-GAAP adjusted operating income 589.6 547.7 Effect of foreign cu
Slide 17: Non-GAAP financial measures
Non-GAAP financial measures First Quarter Ended March 31 (millions, except percent and per share) 2025 2024 Diluted EPS attributable to Ecolab Reported GAAP diluted EPS $1.41 $1.43 Special (gains) and charges, after tax 0.09 0.08 Discrete tax net expense (benefit) 0.00 (0.17) Non-GAAP adjusted dilut
Slide 18: Non-GAAP financial measures
Non-GAAP financial measures First Quarter Ended March 31 2025 2024 EBITDA (trailing twelve months ended) Net income including non-controlling interest $2,121.8 $1,571.5 Provision for income taxes 500.5 352.4 Interest expense, net 269.2 294.1 Depreciation 639.1 615.0 Amortization 297.6 309.1 EBITDA $
Slide 19: Non-GAAP financial measures
Non-GAAP financial measures 2025 2024 Impact of Acquisitions and Impact of Acquisitions and (millions) Fixed Currency Divestitures Organic Fixed Currency Divestitures Organic Net Sales Global Water $1,800.5 ($21.3) $1,779.2 $1,755.0 ($11.8) $1,743.2 Global Institutional & Specialty 1,406.5 (0.4) 1,4
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