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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 CEST
   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 [email protected]

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

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Financials ($)
Sales 2017 13 633 M
EBIT 2017 2 128 M
Net income 2017 1 410 M
Debt 2017 6 377 M
Yield 2017 1,14%
P/E ratio 2017 27,25
P/E ratio 2018 24,51
EV / Sales 2017 3,26x
EV / Sales 2018 3,08x
Capitalization 38 083 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 130 $
Spread / Average Target -1,0%
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NameTitle
Douglas M. Baker Chairman & Chief Executive Officer
Thomas W. Handley President & Chief Operating Officer
Daniel J. Schmechel Chief Financial Officer & Treasurer
Larry L. Berger Chief Technology Officer & Executive VP
Stewart H. McCutcheon Chief Information Officer & Executive VP
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