Ecolab Reports Solid End To 2018; Raising Our FVE to $146 on Higher Near-Term Profits
Ecolab announced preliminary 2018 fourth-quarter results that were slightly above our expectations. Further, the company guided to 2019 adjusted EPS between $5.80 and $6.00, which is above our previous forecast of $5.68. Having updated our model to account for better near-term results, we're raising our Ecolab fair value estimate to $146 per share from $141. Our wide-moat rating remains intact.While management did not provide much detail, they mentioned an 8% year on year growth in the industri...
Ecolab is a provider of water, hygiene and energy technologies and services. The company's segments include: Global Industrial, which provides water treatment and process applications, and cleaning and sanitizing solutions in the manufacturing, food and beverage processing, chemical, power generation, pharmaceutical and commercial laundry industries; Global Institutional, which provides cleaning and sanitizing products to the foodservice, hospitality, lodging, healthcare, government, education and retail industries; and Global Energy, which serves the process chemicals and water treatment needs of the global petroleum and petrochemical industries in both upstream and downstream applications.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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