$ECL · ECOLAB INC.
Ecolab reported Q3 FY2026 results with net sales of $4.695B (+13% reported, +7% organic). Adjusted diluted EPS was $2.18, up 5% YoY, despite a ~10% headwind from CoolIT acquisition-related costs. Reported operating income rose 7% to $810.5M; adjusted operating income jumped 14% to $893.4M. The company issued FY2026 adjusted EPS guidance of $8.10-$8.20 (+8-9%) and Q4 2026 guidance of $2.13-$2.23.
- Reported net sales $4.695B, +13% YoY; organic sales growth accelerated to 7% with volume +2% and pricing +5%.
- Adjusted diluted EPS $2.18, +5% YoY, including ~10% headwind from CoolIT acquisition amortization and financing costs.
- Global High-Tech delivered 63% organic sales growth, driven by microelectronics and data center demand.
- Reported operating income $810.5M (+7%); adjusted operating income $893.4M (+14%); organic OI growth +11%.
- FY2026 adjusted EPS outlook $8.10-$8.20 (+8-9%); Q4 2026 guide $2.13-$2.23 (+2-7%).
Markets closed — no regular-session reaction yet; extended-hours move not captured here. At $288.95, ECL trades at ~35x the midpoint of FY2026 adjusted EPS guidance.
Ecolab's Q3 marks an inflection point: organic growth accelerated across all segments, High-Tech posted 63% organic growth, and management previewed 2027 with confidence in hitting 12-15% long-term EPS growth.
Ecolab's 63% organic growth in Global High-Tech (microelectronics and AI data center liquid cooling) positions it as a key water-circularity beneficiary of the AI infrastructure buildout, with Ovivo Electronics and CoolIT expected to add ~2pp to annual organic sales growth.
CoolIT acquisition-related amortization and financing costs created an approximate 10% headwind to adjusted EPS; net interest expense surged $70M YoY (+126%) due to acquisition financing. Ongoing Middle East disruptions weighed on volume growth.