WASHINGTON (dpa-AFX) - Ecolab Inc. (ECL), a maker of industrial cleaning chemicals, Tuesday reported third-quarter earnings which increased, helped by growth in the Energy segment. Earnings topped analysts' estimates, while sales fell short.
Looking ahead, the company lifted the bottom end of its annual earnings outlook.
For the 3-month period, net earnings increased to $364.9 million or $1.19 per share, from $308 million or $1 per share a year earlier.
Earnings, excluding certain items, of $1.21 per share topped the $1.20 consensus estimate of analysts polled by Thomson-Reuters. Analysts' estimates typically exclude one-time items.
Net sales increased 6 percent to $3.69 billion, from $3.48 billion last year, but were shy of $3.73 billion Wall Street expected.
For the full year, the company raised the bottom end of its adjusted earnings guidance to $4.16 - $4.20 per share, from the $4.14 - $4.20 per share previously projected.
For the fourth quarter, Ecolab expects adjusted earnings of $1.18 - $1.22 per share.
Analysts expect annual earnings of $4.18 and fourth-quarter earnings of $1.21.
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