Name: Ecolab Inc. (NYSE:ECL) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Ecolab Inc., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017
Product and equipment sales	2,691,700)	2,653,800)	2,514,400)	2,293,400)	2,449,100)	2,426,400)	2,167,100)	2,424,000)	3,142,800)	3,117,700)	3,092,100)	2,886,300)	3,107,100)	3,101,400)	3,060,500)	2,859,600)	—)	—)	—)	—)
Service and lease sales	672,900)	667,000)	648,300)	591,600)	616,200)	592,200)	518,600)	596,600)	680,800)	700,200)	667,300)	619,100)	653,400)	645,800)	629,100)	611,300)	—)	—)	—)	—)
Net sales (legacy)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	3,650,700)	3,563,300)	3,462,700)	3,161,600)
Net sales	3,364,600)	3,320,800)	3,162,700)	2,885,000)	3,065,300)	3,018,600)	2,685,700)	3,020,600)	3,823,600)	3,817,900)	3,759,400)	3,505,400)	3,760,500)	3,747,200)	3,689,600)	3,470,900)	3,650,700)	3,563,300)	3,462,700)	3,161,600)
Product and equipment cost of sales	(1,648,000)	(1,625,100)	(1,464,900)	(1,362,900)	(1,409,700)	(1,405,400)	(1,301,500)	(1,364,700)	(1,790,800)	(1,792,700)	(1,805,800)	(1,717,100)	(1,820,900)	(1,809,800)	(1,751,600)	(1,696,200)	—)	—)	—)	—)
Service and lease cost of sales	(395,100)	(391,600)	(379,100)	(349,100)	(370,600)	(364,200)	(334,200)	(355,500)	(420,300)	(414,700)	(402,400)	(379,600)	(395,900)	(380,900)	(394,500)	(376,100)	—)	—)	—)	—)
Cost of sales, including special charges (legacy)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(1,950,700)	(1,891,300)	(1,871,600)	(1,691,500)
Cost of sales, including special charges	(2,043,100)	(2,016,700)	(1,844,000)	(1,712,000)	(1,780,300)	(1,769,600)	(1,635,700)	(1,720,200)	(2,211,100)	(2,207,400)	(2,208,200)	(2,096,700)	(2,216,800)	(2,190,700)	(2,146,100)	(2,072,300)	(1,950,700)	(1,891,300)	(1,871,600)	(1,691,500)
Gross profit	1,321,500)	1,304,100)	1,318,700)	1,173,000)	1,285,000)	1,249,000)	1,050,000)	1,300,400)	1,612,500)	1,610,500)	1,551,200)	1,408,700)	1,543,700)	1,556,500)	1,543,500)	1,398,600)	1,700,000)	1,672,000)	1,591,100)	1,470,100)
Selling, general and administrative expenses	(867,900)	(832,000)	(853,300)	(862,900)	(809,600)	(802,600)	(788,600)	(908,300)	(991,100)	(962,500)	(1,002,700)	(1,001,200)	(948,800)	(964,700)	(1,036,800)	(1,018,300)	(1,123,900)	(1,087,300)	(1,115,300)	(1,090,600)
Special gains and (charges)	(65,900)	(6,300)	(17,600)	(12,800)	(59,300)	(35,000)	(69,400)	(15,900)	(61,000)	(60,400)	(49,900)	(40,300)	(13,000)	(75,600)	(12,100)	(26,000)	51,600)	(4,900)	(36,800)	(6,200)
Operating income	387,700)	465,800)	447,800)	297,300)	416,100)	411,400)	192,000)	376,200)	560,400)	587,600)	498,600)	367,200)	581,900)	516,200)	494,600)	354,300)	627,700)	579,800)	439,000)	373,300)
Other income (expense)	6,400)	13,000)	(2,500)	17,000)	10,300)	15,100)	15,100)	15,400)	13,400)	20,800)	20,900)	21,200)	19,900)	21,000)	19,600)	19,400)	—)	—)	—)	—)
Interest expense, net	(44,600)	(76,400)	(45,600)	(51,700)	(48,400)	(134,800)	(58,700)	(48,300)	(46,200)	(46,100)	(49,500)	(49,400)	(53,900)	(55,700)	(56,300)	(56,400)	(77,800)	(55,100)	(59,600)	(62,500)
Income before income taxes	349,500)	402,400)	399,700)	262,600)	378,000)	291,700)	148,400)	343,300)	527,600)	562,300)	470,000)	339,000)	547,900)	481,500)	457,900)	317,300)	549,900)	524,700)	379,400)	310,800)
Provision for income taxes	(44,200)	(73,800)	(86,100)	(66,100)	(73,100)	(42,400)	(14,100)	(47,000)	(93,300)	(93,000)	(97,800)	(38,600)	(147,700)	(43,200)	(104,300)	(69,100)	21,800)	(128,900)	(81,300)	(54,000)
Net income from continuing operations	305,300)	328,600)	313,600)	196,500)	304,900)	249,300)	134,300)	296,300)	434,300)	469,300)	372,200)	300,400)	400,200)	438,300)	353,600)	248,200)	571,700)	395,800)	298,100)	256,800)
Net loss from discontinued operations, net of tax	—)	—)	—)	—)	—)	—)	(2,163,900)	(8,600)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net income (loss) including noncontrolling interest	305,300)	328,600)	313,600)	196,500)	304,900)	249,300)	(2,029,600)	287,700)	434,300)	469,300)	372,200)	300,400)	400,200)	438,300)	353,600)	248,200)	571,700)	395,800)	298,100)	256,800)
Net income attributable to noncontrolling interest	(4,300)	(4,100)	(2,800)	(2,900)	(4,600)	(3,100)	(5,400)	(4,300)	(4,700)	(5,100)	(3,600)	(3,900)	(5,100)	(2,900)	(2,300)	(900)	(5,800)	(3,400)	(1,500)	(3,300)
Net income (loss) attributable to Ecolab	301,000)	324,500)	310,800)	193,600)	300,300)	246,200)	(2,035,000)	283,400)	429,600)	464,200)	368,600)	296,500)	395,100)	435,400)	351,300)	247,300)	565,900)	392,400)	296,600)	253,500)

The financial performance from early 2017 through late 2021 is characterized by a period of steady growth, a significant disruption in 2020, and a subsequent recovery phase. Net sales experienced a consistent upward trajectory from March 2017, peaking in December 2019 at 3.82 billion US dollars. This growth was followed by a sharp decline in the first half of 2020, reaching a low of 2.68 billion US dollars in June 2020, before gradually recovering to 3.36 billion US dollars by December 2021.

Revenue Composition and Trends: Net sales are primarily driven by product and equipment sales, which exhibit higher volatility compared to service and lease sales. Product sales peaked in late 2019 at approximately 3.14 billion US dollars and suffered a significant contraction during the second quarter of 2020. Service and lease sales remained more resilient, although they also experienced a dip in mid-2020, subsequently recovering to 672.9 million US dollars by the end of 2021.
Gross Profitability and Cost Management: Gross profit margins followed the general trend of net sales, with a peak of 1.61 billion US dollars in December 2019. The most significant compression occurred in June 2020, where gross profit fell to 1.05 billion US dollars. Cost of sales were reduced in tandem with falling revenues during 2020, though the reduction in costs did not fully offset the revenue decline, leading to temporary margin pressure.
Operating Efficiency and Income: Operating income showed substantial volatility, ranging from a high of 627.7 million US dollars in December 2017 to a low of 192 million US dollars in June 2020. Selling, general, and administrative expenses were managed proactively during the 2020 downturn, decreasing from approximately 1 billion US dollars per quarter in 2019 to a low of 788.6 million US dollars in June 2020, which helped stabilize operating margins during the revenue slump.
Net Income and Extraordinary Items: The most notable anomaly in the period occurred in June 2020, where a net loss of 2.03 billion US dollars attributable to the company was recorded. This result was driven exclusively by a net loss from discontinued operations totaling 2.16 billion US dollars. Excluding this extraordinary item, net income from continuing operations remained positive throughout the period, though it exhibited a dip in 2020 before returning to a range of 300 million to 330 million US dollars per quarter in 2021.
Financial Obligations and Taxes: Interest expenses remained relatively stable between 44 million and 60 million US dollars for most of the period, with a temporary spike to 134.8 million US dollars in September 2020. The provision for income taxes varied significantly, including a tax benefit in December 2017, reflecting fluctuations in taxable income and potential deferred tax adjustments.

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Ecolab Inc. (NYSE:ECL)

Income StatementQuarterly Data

Income Statement
Quarterly Data