Jun 2026 (Q2 FY26) — Jul 28, 2026
Ecolab Q2 FY26 — Growth Engines Accelerate, FY26 EPS Outlook Raised
Read the full callEcolab (ECL) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Ecolab earnings: last reported Tue, 28 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 4,415 | +9.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 17.2 | −0.5 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 535 | +2.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
3 of 3 judged targets kept · 14 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Life Sciences water-purification capacity expansion (China plant) -- production start | mid-2026 | Sep 2025 | We just opened our latest, one of the biggest plants in China a few weeks ago. | Achieved |
| Full-year adjusted diluted EPS growth, FY2026 | 12% to 15% growth | Dec 2025 | we now expect EPS in the range of to $8.05 to $8.25, rising 7% to 10% versus last year. | Revised Down |
| Basic Industries and Paper segments -- return to organic sales growth | return to growth during 2026 | Sep 2025 | the good news is that it was barely positive in Q2, which is a big deal. Obviously, it's for the business after more than a year being in negative territory | On Track |
14 of ECOLAB INC.'s 17 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 14 more targets are in the full ledger.
Claimed
- Adjusted EPS grew 11% year-over-year.
- Organic sales growth accelerated to 5%.
- Global High-Tech sales grew 29%, approaching $1.5 billion annualized, with targets raised to $4 billion by 2030 and 25% OI margin.
- Life Sciences accelerated to 15% growth with mid-20% operating income margin.
- Ecolab Digital grew 27% and Pest Elimination grew 7%.
Qualified
- Volumes grew 1% despite a nearly 1% headwind from customer operations disrupted by conflict in the Middle East.
- Life Sciences reported margin in Q3 expected to be in the high teens, down from mid-20s in Q2, due to continued investments.
- Short-term impact from noncash amortization and financing costs from the CoolIT acquisition on FY26 EPS.
- Expected high single-digit commodity prices for the balance of the year.
Price
$285.94 −1.02% · −$2.95
Performance +3.3% 1Y
1Y: $276.75 on 17 Oct 2025 → $285.94. High $308.35 (27 Feb 2026), low $245.73 (19 May 2026).
- Previous close
- $288.89
- 52-week range
- $245.73 – $308.35
- One year
- +2.06%
Overview
- Symbol
- ECL
- Sector
- Materials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
3 of 3 judged targets kept · 14 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Life Sciences water-purification capacity expansion (China plant) -- production start | mid-2026 | Sep 2025 | We just opened our latest, one of the biggest plants in China a few weeks ago. | Achieved |
| Full-year adjusted diluted EPS growth, FY2026 | 12% to 15% growth | Dec 2025 | we now expect EPS in the range of to $8.05 to $8.25, rising 7% to 10% versus last year. | Revised Down |
| Basic Industries and Paper segments -- return to organic sales growth | return to growth during 2026 | Sep 2025 | the good news is that it was barely positive in Q2, which is a big deal. Obviously, it's for the business after more than a year being in negative territory | On Track |
Claimed
- Adjusted EPS grew 11% year-over-year.
- Organic sales growth accelerated to 5%.
- Global High-Tech sales grew 29%, approaching $1.5 billion annualized, with targets raised to $4 billion by 2030 and 25% OI margin.
- Life Sciences accelerated to 15% growth with mid-20% operating income margin.
- Ecolab Digital grew 27% and Pest Elimination grew 7%.
Qualified
- Volumes grew 1% despite a nearly 1% headwind from customer operations disrupted by conflict in the Middle East.
- Life Sciences reported margin in Q3 expected to be in the high teens, down from mid-20s in Q2, due to continued investments.
- Short-term impact from noncash amortization and financing costs from the CoolIT acquisition on FY26 EPS.
- Expected high single-digit commodity prices for the balance of the year.
The full ledger
Open ECOLAB INC.’s full ledger
A free account opens 5 company ledgers a month. All 17 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 28, 2026
Ecolab Q1 FY26 — Growth engines accelerate as energy surcharge moves to offset 9% commodity inflation
Read the full callDec 2025 (Q4 FY25) — Feb 10, 2026
Ecolab Q4 FY25 — Record Year with Strong Momentum into 2026
Read the full callEvery analysed call
Ecolab earnings calls (ECL)
Financials
What the filings say
Net profit, year on year: +2% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 3,999 | 4,005 | 3,695 | 4,025 | 4,165 | 4,196 | 4,066 | 4,415 |
| Operating profit | 1,045 | 583 | 555 | 710 | 760 | 712 | 622 | 758 |
| Operating margin | 26.1% | 14.6% | 15.0% | 17.6% | 18.3% | 17.0% | 15.3% | 17.2% |
| Other income | 13 | 13 | 13 | 13 | 13 | 13 | 9 | 9 |
| Interest | 86 | 79 | 73 | 76 | 75 | 83 | 77 | 95 |
| Profit before tax | 987 | 534 | 510 | 660 | 718 | 660 | 558 | 694 |
| Tax rate | 25.0% | 10.3% | 20.3% | 19.9% | 17.8% | 13.9% | 21.8% | 22.3% |
| Net profit | 737 | 473 | 403 | 524 | 585 | 564 | 433 | 535 |
| EPS ($ per share) | 2.60 | 1.67 | 1.42 | 1.85 | 2.06 | — | 1.53 | 1.91 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 357 | 360 | 363 | 364 | 365 | 366 | 368 | 369 |
| Reserves | 8,910 | 9,994 | 8,243 | 8,815 | 9,319 | 10,075 | 11,517 | 12,834 |
| Total liabilities | 12,021 | 12,143 | 11,925 | 13,953 | 14,206 | 13,774 | 13,599 | 14,892 |
| Fixed assets | 3,836 | 3,228 | 3,125 | 3,289 | 3,293 | 3,475 | 3,752 | 4,277 |
| Total assets | 20,075 | 20,869 | 18,126 | 21,206 | 21,464 | 21,847 | 22,388 | 24,696 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 2,278 | 2,421 | 1,860 | 2,062 | 1,788 | 2,412 | 2,814 | 2,953 |
| Cash from investing | -1,030 | -1,199 | -414 | -4,580 | -717 | -990 | -434 | -2,707 |
| Cash from financing | -1,173 | -1,350 | -342 | 1,603 | -837 | -1,055 | -2,024 | -853 |
| Net cash flow | 83 | -108 | 1,074 | -900 | 239 | 321 | — | — |
| Capital expenditure | -779 | -731 | -489 | -643 | -713 | -775 | -994 | -1,048 |
| Free cash flow | 1,499 | 1,689 | 1,371 | 1,419 | 1,076 | 1,637 | 1,819 | 1,904 |
ECL revenue by segment
Global Healthcare and Life Sciences shrank from 8% to 5% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Water Services | — | — | 49% | 49% | 49% | 51% | — | 50% | +12.4% |
| Global Institutional | 35% | 34% | 38% | 38% | 38% | 37% | 37% | 37% | +4.9% |
| Global Pest Elimination | 8% | 7% | 8% | 8% | 8% | 8% | 8% | 8% | +10.6% |
| Global Healthcare and Life Sciences | 8% | 8% | 5% | 5% | 4% | 5% | 5% | 5% | +18.4% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
ECL operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Mar 2026 Q1 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Connected devices Ecolab Digital | 100KWell, we get lease or rent for our devices and we have 100,000 of those connections around the world.Source: earnings call transcript | 100KBut when you think about it, we have 100,000 devices that are connected today.Source: earnings call transcript | ~700KWe have roughly 700,000 smart devices that have been implemented so far.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- US 53% ↓ 1 pt
- Europe 20% ↓ 1 pt
- Asia Pacific 8%
- Latin America 7%
- CN 6% ↑ 1 pt
- India Middle East and Africa 3%
- CA 3%
As ECL cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
129 filings between Nov 12, 2025 and Sep 30, 2026.
Open market
decisions to buy or sellPurchases
$3.93M
7 purchases by 4 insiders
Sales
$27.15M
15 sales by 10 insiders
Compensation
not trading decisions- 71
- Award — granted as compensation
- 18
- Option exercise — converted options into shares
- 17
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Beck Christophe | — | $16.83M | Aug 18, 2026 |
| Alfano Nicholas J. | — | $2.88M | Feb 17, 2026 |
| Brown Darrell R | — | $2.61M | Jun 9, 2026 |
| Cook Gregory B | — | $2.37M | Aug 11, 2026 |
| Doukeris Michel D | $2.00M | — | Jun 10, 2026 |
| Green Eric Mark | $1.02M | — | Sep 11, 2026 |
| Kirkland Scott D | — | $929.8K | Jul 30, 2026 |
| MacLennan David | $649.4K | — | May 13, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 30, 2026 | Doukeris Michel D Director | Award | 131 | $0 |
| Sep 30, 2026 | NOWELL LIONEL L III Director | Award | 131 | $0 |
| Sep 30, 2026 | Green Eric Mark Director | Award | 145 | $40.0K |
| Sep 30, 2026 | Althoff Judson Director | Award | 131 | $0 |
| Sep 30, 2026 | Ballard Shari L Director | Award | 131 | $0 |
| Sep 30, 2026 | Gross Marion K. Director | Award | 131 | $0 |
| Sep 30, 2026 | MacLennan David Director | Award | 46 | $12.8K |
| Sep 30, 2026 | Green Eric Mark Director | Award | 131 | $0 |
| Sep 30, 2026 | MacLennan David Director | Award | 131 | $0 |
| Sep 30, 2026 | ZILLMER JOHN J Director | Award | 131 | $0 |
| Sep 30, 2026 | Whalen Julie Director | Award | 131 | $0 |
| Sep 30, 2026 | Vautrinot Suzanne M Director | Award | 131 | $0 |
| Sep 30, 2026 | McKibben Tracy B Director | Award | 131 | $0 |
| Sep 30, 2026 | LARSON MICHAEL Director | Award | 131 | $0 |
| Sep 30, 2026 | Ballard Shari L Director | Award | 131 | $36.3K |
| Sep 11, 2026 | Green Eric Mark Director | Purchase | 3,370 | $932.1K |
| Sep 11, 2026 | Green Eric Mark Director | Purchase | 320 | $88.7K |
| Aug 18, 2026 | Beck Christophe CHAIRMAN, PRESIDENT & CEO | Sale | 17,862 | $5.00M |
| Aug 11, 2026 | Cook Gregory B Co-COO - Global Businesses | Sale | 4,567 | $1.30M |
| Aug 3, 2026 | Bradway Jennifer J SVP & CORPORATE CONTROLLER | Tax withheld | 2,944 | $820.9K |
| Aug 3, 2026 | Bradway Jennifer J SVP & CORPORATE CONTROLLER | Option exercise | 6,457 | — |
| Jul 30, 2026 | Kirkland Scott D CHIEF FINANCIAL OFFICER | Sale | 3,357 | $929.8K |
| Jul 30, 2026 | Kirkland Scott D CHIEF FINANCIAL OFFICER | Option exercise | 3,972 | $467.6K |
| Jun 30, 2026 | MacLennan David Director | Award | 130 | $0 |
| Jun 30, 2026 | Green Eric Mark Director | Award | 144 | $40.0K |
| Jun 30, 2026 | Green Eric Mark Director | Award | 130 | $0 |
| Jun 30, 2026 | Ballard Shari L Director | Award | 130 | $36.2K |
| Jun 30, 2026 | Whalen Julie Director | Award | 130 | $0 |
| Jun 30, 2026 | NOWELL LIONEL L III Director | Award | 130 | $0 |
| Jun 30, 2026 | Ballard Shari L Director | Award | 130 | $0 |
| Jun 30, 2026 | Doukeris Michel D Director | Award | 130 | $0 |
| Jun 30, 2026 | Gross Marion K. Director | Award | 130 | $0 |
| Jun 30, 2026 | LARSON MICHAEL Director | Award | 130 | $0 |
| Jun 30, 2026 | Althoff Judson Director | Award | 130 | $0 |
| Jun 30, 2026 | Vautrinot Suzanne M Director | Award | 130 | $0 |
| Jun 30, 2026 | McKibben Tracy B Director | Award | 130 | $0 |
| Jun 30, 2026 | MacLennan David Director | Award | 46 | $12.8K |
| Jun 30, 2026 | ZILLMER JOHN J Director | Award | 130 | $0 |
| Jun 11, 2026 | Clark Benjamin M. EVP - Global Supply Chain | Purchase | 1,000 | $263.8K |
| Jun 10, 2026 | Doukeris Michel D Director | Purchase | 7,750 | $2.00M |
| Jun 9, 2026 | Brown Darrell R Co-COO - Global Markets | Sale | 10,000 | $2.61M |
| Jun 9, 2026 | Brown Darrell R Co-COO - Global Markets | Option exercise | 10,000 | $1.18M |
| May 27, 2026 | Vautrinot Suzanne M Director | Sale | 1,004 | $266.0K |
| May 22, 2026 | Vautrinot Suzanne M Director | Tax withheld | 996 | $251.3K |
| May 22, 2026 | Vautrinot Suzanne M Director | Option exercise | 2,000 | $251.3K |
| May 13, 2026 | MacLennan David Director | Purchase | 1,000 | $250.7K |
| May 4, 2026 | Cook Gregory B Co-COO - Global Businesses | Tax withheld | 3,829 | $987.5K |
| May 4, 2026 | Cook Gregory B Co-COO - Global Businesses | Option exercise | 8,396 | — |
| May 4, 2026 | MacLennan David Director | Purchase | 800 | $205.5K |
| Mar 31, 2026 | Doukeris Michel D Director | Award | 138 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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