Ecolab: Too early to quantify Hurricane Harvey impact
Douglas M. Baker, Jr., Ecolab’s chairman and CEO, said it is pleased that associates are safe and is supporting them in the recovery.
“To assist, we have donated 10 truckloads of cleaning and sanitizing products and are matching our global associates’ financial contributions for those in need in the affected area,” he said.
“The effects of the hurricane on our customers, our plants and operations and our raw material costs are still playing out and it is too early to formally quantify them. However, a number of our industrial and refining customers were forced to shut down their operations, as we were for our three manufacturing plants in the Houston area.”
Ecolab said it believes Q3 adjusted diluted earnings per share could be on the low end or below the previously forecasted $1.36 to $1.44 range and likely on the lower end of full year 2017 range of $4.70 to $4.90.
Baker said impact will be temporary and it does not expect a big influence on 2018 results.
“Importantly, we believe Hurricane Harvey’s impact will be temporary, and that the fundamental strengthening trends within our business sales and margins are continuing and will be reflected in our results going forward. We do not believe there will be any meaningful impact on our 2018 results. Obviously, this does not include prospective impacts from other hurricanes.”
The American Red Cross is getting ready to respond as Hurricane Irma nears the US and the surrounding area.
Hurricane Irma is currently a Category 5 storm with winds as high as 180 mph.
Donations from members of the Red Cross Annual Disaster Giving Program (ADGP) and the Disaster Responder Program after Hurricane Harvey included the Anheuser-Busch Foundation, PepsiCo Foundation and Walmart and the Walmart Foundation.
