Ecolab Inc. (NYSE:ECL) Q2 2024 Earnings Conference Call July 30, 2024 1:00 PM ET
Company Participants
Andy Hedberg - Vice President, Investor Relations
Christophe Beck - Chairman & Chief Executive Officer
Scott Kirkland - Chief Financial Officer
Conference Call Participants
Tim Mulrooney - William Blair
Ashish Sabadra - RBC Capital Markets
Ronan Kennedy - Barclays
John Roberts - Mizuho Securities
Lucas Beaumont - UBS
Chris Parkinson - Wolfe Research
John McNulty - BMO Capital Markets
Jeff Zekauskas - JPMorgan
David Begleiter - Deutsche Bank
Pavel Molchanov - Raymond James
Shlomo Rosenbaum - Stifel
Steve Byrne - Bank of America
Kevin McCarthy - Vertical Research
Patrick Cunningham - Citi
Andy Wittmann - Robert W. Baird
Mike Harrison - Seaport Research
Vincent Andrews - Morgan Stanley
Operator
Greetings. Welcome to the Ecolab Second Quarter 2024 Earnings Release Conference Call. At this time all participants are in listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
At this time, it is now my pleasure to introduce your host, Andy Hedberg, Vice President Investor Relations. Thank you Mr., Hedberg, you may now begin.
Andy Hedberg
Thank you, and hello, everyone, and welcome to Ecolab’s second quarter conference call. With me today are Christophe Beck, Ecolab’s Chairman and CEO, and Scott Kirkland, our CFO.
A discussion of our results along with our earnings release and the slides referencing the quarter results are available on Ecolab’s website at ecolab.com/investor. Please take a moment to read the cautionary statements in these materials, which state that this teleconference and the associated supplemental materials include estimates of future performance. These are forward-looking statements and actual results could differ materially from those projected. Factors that could cause actual results to differ are described under the Risk Factors section in our most recent Form 10-K and in our posted materials. We also refer you to the supplemental diluted earnings per share information in release.
With that, I’d like to turn the call over to Christophe Beck for his comments.
Christophe Beck
Thank you, Andy, and welcome to everyone on the call. I'm happy to share my perspective before we jump into Q&A. But in summary, with 35% adjusted earnings growth in Q2 and 25% to 29% earnings growth expected for the full year, I feel very good about where we are and even more where we going.
Ecolab’s very strong business momentum continued in the second quarter. Our team delivered for our customers and delivered for our shareholders. Organic sales growth remained in its previously forecast 4% to 5% range, as growth in our institutions and specialty segment, normalized to a strong 7%, lapping last year's very strong 13%. Performance across the rest of our segments further improved.