Ecolab: Are The Water Business Growth Opportunities Here To Stay? 

Ecolab reported a robust second quarter with notable strengths and some areas of challenge. The company maintained a strong trajectory of double-digit earnings growth amidst a complex global operating environment. Organic sales grew by 3%, driven largely by strong value pricing and the core business’s momentum. This growth, however, was uneven across sectors, with particular softness in the paper and basic industries, which only make up 15% of Ecolab’s sales. In contrast, the remaining 85% of its portfolio grew by 4% in organic sales and saw an 18% rise in operating income.