Ecolab posted fourth-quarter FY22 adjusted earnings per share of $1.27, which surpassed analysts’ expectations of $1.25. Sales grew +9.1% year-on-year to $3.67 billion, vs. consensus of $3.70 billion.
For Q1 FY23, Ecolab expects adjusted earnings per share of $0.82-$0.90, compared to analysts’ forecast of $0.85.
Following their quarterly results, Ecolab shares got price target hikes from some analysts. RBC Capital increased the price target to $185 from $155, while RBC Capital analyst Ashish Sabadra upgraded the rating to Outperform from Sector Perform.
Wells Fargo boosted the price target to $175 from $168, while maintaining an Overweight rating on the stock.
Barclays raised the price target to $165 from $160, while maintaining an Equal-Weight rating on the shares.