Ecolab Q2 FY2026: adjusted EPS up 11.0%, full-year outlook raised
Ecolab's FY2026 second quarter looked worse on the reported line than it did underneath: adjusted earnings per share rose 11.0% to $2.09 and management nudged up its full-year target. Reported sales were $4.42 billion, gross margin 44.1%, and GAAP earnings per share $1.90. Read the adjusted line for the operating trend, and the reported line for what the acquisitions are costing.
1 · Expected vs. Actual
Free preview belowGAAP earnings per share of $1.90 rose 3.0%, while adjusted earnings per share of $2.09 rose 11.0% on adjusted net income of $589.6 million, up 9.0%. The adjusted figure landed just under the $2.10 consensus estimate, so this was a solid quarter rather than a blowout. A reported tax rate of 22.3%, against 19.9% a year earlier, is a big part of why the GAAP number grew so much more slowly than the adjusted one.
Reported sales rose 10.0% to $4.42 billion, but only 5.0% of that was organic, with the rest coming from acquisitions such as Ovivo Electronics. Pricing added 4.0% and volume 1.0%, held back by roughly 1.0% from customer operations disrupted in the Middle East. The growth engines did the heavy lifting: Global High-Tech organic sales rose 29.0% and Life Sciences 15.0%.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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