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4-Traders Homepage  >  Equities  >  Nyse  >  Ecolab Inc.    ECL

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Ecolab Inc. : Ecolab Sees Downbeat 2013 Earnings Amid Delayed Champion Deal Closing

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01/08/2013 | 03:36pm CET
   By Ben Fox Rubin 
 

Ecolab Inc. (ECL) predicted downbeat earnings of 2013, as the cleaning products noted a delay in closing its deal for Champion Technologies.

The company said it expects 2013 adjusted earnings of $3.38 to $3.48 a share, below estimates of $3.64 from analysts polled by Thomson Reuters. Ecolab also backed its 2012 guidance.

Shares fell 2.7% premarket to $71.90. As of Monday's close, the stock was up 14% over the past three months.

Ecolab--a provider of cleaning, sanitation and pest-control products--plans to buy chemical maker Champion Technologies for about $2.16 billion, with the deal pushing the company deeper into the chemical market for the energy industry.

As previously disclosed, the Champion deal's closing was expected to close by the end of last year but remains subject to certain approvals. The deal had been expected to benefit 2013 earnings by 12 cents a share, but that benefit isn't included in the company's 2013 earnings estimate. Ecolab said it remains confident that the deal will close in early 2013, but said the benefit to this year's earnings will be lower than previously forecast when the deal closes.

In October, the company said its third-quarter earnings jumped as a surge in its revenue overshadowed a sharp rise in input costs and other expenses.

Write to Ben Fox Rubin at ben.rubin@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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Financials ($)
Sales 2016 13 271 M
EBIT 2016 2 028 M
Net income 2016 1 249 M
Debt 2016 6 252 M
Yield 2016 1,19%
P/E ratio 2016 28,49
P/E ratio 2017 24,18
EV / Sales 2016 3,09x
EV / Sales 2017 2,95x
Capitalization 34 715 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 124 $
Spread / Average Target 4,2%
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Managers
NameTitle
Douglas M. Baker Chairman & Chief Executive Officer
Thomas W. Handley President & Chief Operating Officer
Daniel J. Schmechel Chief Financial Officer
Larry L. Berger Chief Technology Officer & EVP
Stewart H. McCutcheon Chief Information Officer & EVP
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