ECOLAB INC. Earnings Summary — Q1 2026

• Revenue reached $4.07 billion in Q1 2026, a strong 10% increase over the same period last year.
• The 10% YoY revenue growth represents a significant acceleration compared to the sub-5% growth seen in 2025.
• Net income attributable to common shareholders grew 7.48% YoY to $432.6 million.
• Operating income rose to $622 million, representing a healthy 15.3% margin, although down slightly from Q4 2025 levels.
• The 'Circle the Customer' strategy is yielding results, with strong top-line momentum continuing from a high-performance 2025.
• Interest expenses rose to $72.7 million, up from $58.3 million in the prior year's quarter.
• Provision for income taxes increased to $121.5 million, reflecting a higher effective tax rate of 21.8% compared to 20.3% in Q1 2025.

Management emphasizes long-term value creation through technical innovation and sustainability, continuing the trend of expanding share of wallet through their high-touch service model.

Improving

The transition from steady mid-single digit growth to 10% YoY growth in Q1 2026 signals a successful pivot toward aggressive growth following the full-year 2025 recovery.

The company remains positioned as a premier compounder in water and hygiene. Following a structural shift in 2025, Ecolab is focused on achieving long-term margin expansion targets while navigating variable interest rates and global energy costs.