Ecolab (ECL) Q3 2026 Earnings
Adjusted EPS of $2.18 excludes $0.23/share after-tax special gains and charges primarily related to $42.2 million in acquisition and integration costs and $17.1 million in One Ecolab charges, and $0.00/share discrete tax benefit. Approximately 10 percentage point headwind from CoolIT acquisition-related amortization ($20 million) and financing costs included in adjusted EPS.
How Did ECL Stock React to Q3 2026 Earnings?
Did ECL Beat Earnings? Q3 2026 Results
Yes. Ecolab reported Q3 2026 earnings of $2.18 a share on Oct 27, 2026, beating the $2.17 consensus estimate by 0.3%. Revenue was $4.7B against a $4.7B estimate.
Ecolab delivered a largely in-line third quarter for fiscal 2026, edging past earnings expectations while falling just short on revenue. The water and hygiene giant posted adjusted diluted EPS of $2.18, a hair above the $2.17 consensus, as reported sales climbed 12.7% year over year to $4.69 billion, fractionally below the $4.70 billion analysts had penciled in. The headline driver was the company's high-growth segments: Global High-Tech surged 63% organically, fueled by data-center demand tied to the CoolIT acquisition, while Life Sciences grew 17% organically, together underscoring the strategic rationale behind Ecolab's recent M&A push. That same dealmaking, however, introduced roughly 10 percentage points of headwind from CoolIT-related amortization and financing costs into the adjusted EPS figure, and pushed net debt to adjusted EBITDA to 2.9x from 1.6x a year ago. Ahead of the print, at least one major bank had lifted its price target, reflecting broader analyst confidence in the long-cycle growth thesis. Management guided full-year 2026 adjusted EPS to $8.10 to $8.20, implying 8% to 9% growth, with acceleration expected in 2027 as acquisition headwinds begin to lap.
- Pricing accelerated to 5%, offsetting rising commodity costs
- Volume growth improved to 2% despite Middle East disruptions
- Global High-Tech organic sales growth of 63%
- Life Sciences organic sales growth of 17% driven by bioprocessing share gains
- One Ecolab enterprise selling strategy driving new business wins across segments
- Ovivo Electronics and CoolIT acquisitions contributing approximately 6 percentage points to reported sales growth
- Improved productivity and supply chain efficiencies
- Ecolab Digital sales grew 34% to $129 million
“Third quarter results marked an inflection point in Ecolab's performance. Exceptional execution drove accelerating sales growth, margin expansion and double-digit adjusted operating income growth. Volume growth accelerated to 2% despite ongoing disruptions in the Middle East. As expected, pricing strengthened to 5% as we leveraged total value delivered to mitigate higher commodity costs while improving customer performance. This disciplined execution allowed us to stabilize our organic gross margin.”
Ecolab CEO, on the earnings call
What Is Ecolab's Outlook?
Full year 2026: Adjusted diluted EPS expected in the $8.10 to $8.20 range, +8% to 9% YoY, reflecting strong underlying performance and an approximate 6 percentage point short-term headwind from CoolIT acquisition-related amortization and financing costs. Q4 2026: Adjusted diluted EPS expected in the $2.13 to $2.23 range, +2% to 7% YoY, with an approximate 12 percentage point headwind from CoolIT. Q4 reported sales expected to increase 12% to 14%, with organic sales growth of 6% to 7%. Q4 adjusted OI margin expected approximately 19%, organic OI margin approximately 20%. Special charges in 2026 expected to be approximately $0.83 per share. 2027: Organic sales expected to grow at the upper end of the 5% to 7% target, adjusted OI margin expected to reach 20%, and adjusted EPS growth expected to meet or exceed the long-term 12% to 15% target.
ECL YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $4.7B | $4.2B | +12.7% |
| Gross Profit | $2.1B | $1.9B | +10.9% |
| Operating Income | $810.5M | $760.2M | +6.6% |
| Net Income | $551.3M | $585.0M | −5.8% |
ECL Revenue by Segment
When Does Ecolab Report Next?
Figures from SEC filings and company reports. Not investment advice.