Stock Analysis on Net
Stock Analysis on Net

Ecolab Inc. (NYSE:ECL)

$22.49

This company has been moved to the archive! The financial data has not been updated since February 25, 2022.

Income Statement

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

US$ in thousands

Microsoft Excel
12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Product and equipment sales
Service and lease sales
Net sales (legacy)
Net sales
Product and equipment cost of sales
Service and lease cost of sales
Cost of sales, including special charges (legacy)
Cost of sales, including special charges
Gross profit
Selling, general and administrative expenses
Restructuring activities
ChampionX separation
Acquisition and integration activities
Disposal and impairment activities
COVID-19 activities, net
Gain on sale of business
Venezuela related gain
Other
Special gains and (charges)
Operating income
Other income (expense)
Interest expense
Interest income
Interest expense, net
Income before income taxes
Provision for income taxes
Net income from continuing operations
Net loss from discontinued operations, net of tax
Net income (loss) including noncontrolling interest
Net income attributable to noncontrolling interest
Net income (loss) attributable to Ecolab

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Net Sales
Net sales increased steadily from 13,838.3 million USD in 2017 to a peak of 14,906.3 million USD in 2019, followed by a notable decline to 11,790.2 million USD in 2020, before recovering partially to 12,733.1 million USD in 2021. The decline in 2020 likely reflects external disruptions affecting business operations.
Product and Equipment Sales
Product and equipment sales data is missing for 2017 but shows growth from 12,128.6 million USD in 2018 to 12,238.9 million USD in 2019, then a significant decrease to 9,466.6 million USD in 2020, and a modest recovery to 10,153.3 million USD in 2021. This trend mirrors the overall net sales pattern.
Service and Lease Sales
Service and lease sales follow a similar pattern, rising from 2,539.6 million USD in 2018 to 2,667.4 million USD in 2019, then declining to 2,323.6 million USD in 2020, before increasing again to 2,579.8 million USD in 2021, indicating partial rebound.
Cost of Sales
Total cost of sales, including special charges, shows an increase from -7,405.1 million USD in 2017 to -8,723.4 million USD in 2019, followed by a marked decrease to -6,905.8 million USD in 2020, then rising again to -7,615.8 million USD in 2021.
Gross Profit
Gross profit declined gradually from 6,433.2 million USD in 2017 to 6,042.3 million USD in 2018 and 6,182.9 million USD in 2019, then dropped sharply to 4,884.4 million USD in 2020 and slightly increased to 5,117.3 million USD in 2021, reflecting the impact of reduced sales volume.
Selling, General and Administrative Expenses
SG&A expenses decreased steadily from -4,417.1 million USD in 2017 to -3,309.1 million USD in 2020, with a slight increase to -3,416.1 million USD in 2021, suggesting cost control efforts alongside some resumption of activities.
Special Charges and Restructuring Activities
Restructuring expenses increased from -39.9 million USD in 2017 to a peak of -116.8 million USD in 2019, then declined to -11.9 million USD in 2021, showing reduced restructuring in later years. Other notable special charges, such as ChampionX separation and disposal impairments, occurred in 2019 and 2020, affecting profitability.
Operating Income
Operating income declined moderately from 2,019.8 million USD in 2017 to 1,945.3 million USD in 2018, stayed stable around 2,013.8 million USD in 2019, then dropped significantly to 1,395.7 million USD in 2020, with a partial recovery to 1,598.6 million USD in 2021.
Other Income and Interest Expense
Other income remained positive but declined over the years, from 79,900 USD in 2018 to 33,900 USD in 2021. Interest expense net decreased from -255 million USD in 2017 to -218.3 million USD in 2021, with a peak expense in 2020 of -290.2 million USD.
Income Before Income Taxes and Provision for Income Taxes
Income before income taxes increased from 1,764.8 million USD in 2017 to 1,899 million USD in 2019, then decreased substantially to 1,161.4 million USD in 2020, with some recovery to 1,414.2 million USD in 2021. Provision for income taxes fluctuated, peaking at -364.3 million USD in 2018, dropping to -176.6 million USD in 2020, then increasing again to -270.2 million USD in 2021.
Net Income
Net income attributable to the company increased from 1,508.4 million USD in 2017 to a peak of 1,558.9 million USD in 2019, then suffered a large net loss of -1,205.1 million USD in 2020, primarily due to discontinued operations losses of -2,172.5 million USD, before rebounding to 1,129.9 million USD in 2021. This indicates a volatile year in 2020 with significant non-recurring losses, followed by return to profitability.