Guidance0
Current guidance was classified as maintained.
Low confidenceSEC filings and exhibits only
Earnings filing (8-K) · Latest 10-Q filings
Last updated: Oct 27, 2026 at 7:02 PM UTC
Earnings filing (8-K) · Latest 10-Q filings
Last updated: Oct 27, 2026 at 7:02 PM UTC
ACCOUNTING RISK · CLEAR
No auditor changes, restatements, late filings, or listing notices in the last 12 months.
from SEC filings · 2026-10-09
Thesis change
Unchanged
Legacy analysis
Legacy analysis: only the dimensions classifiable by the pre-v1 pipeline are shown.
- Legacy analysis: scored by the pre-v1 pipeline; deep evidence has not been re-verified.
- 5 thesis dimension(s) lack comparable evidence
Reported facts
GAAP facts are reported by the company. Comparable figures are EarnIQ arithmetic using only quantified adjustments disclosed in the linked SEC exhibit.
Reported EPS and revenue have not yet been extracted from the filing.
Earnings quality
From 10-Q / 10-K XBRL filings. Sloan (1996) accruals: high accruals relative to assets have historically preceded earnings disappointments. Descriptive research, not a prediction.
Weak — accruals are doing the heavy lifting
Reported profits have been driven more by accounting accruals than cash. Latest quarter: accruals equal -1.8% of assets — in the weakest quintile of large caps.
CY2024Q3Accruals / assets (TTM)CY2026Q2
Depreciation is disclosed annually by most filers, so quarterly values blend actuals with estimates — flagged on every reading. Method: TTM Sloan accruals ÷ average assets, scored 1–5 by quintile.
1. Three decisive changes
Largest quantified changes versus the company's own history.
+36.5%
Operating income — year over year
$757.9M vs $555.3M a year ago · quarter ended Jun 30, 2026 · from 10-Q XBRL filings.
+32.9%
Net income — year over year
$534.9M vs $402.5M a year ago · quarter ended Jun 30, 2026 · from 10-Q XBRL filings.
+19.5%
Revenue — year over year
$4.4B vs $3.7B a year ago · quarter ended Jun 30, 2026 · from 10-Q XBRL filings.
2. Was it already expected?
Consensus classifications require timestamped pre-report snapshots and eight-quarter surprise history.
| Item | Actual | Expected | Gap | Class |
|---|---|---|---|---|
| Consensus comparison coming soon. | ||||
3. Management consistency
Only attributable, measurable and dated commitments are counted. Delivery record: 5 being tracked.
| Promise | Target | Outcome | Status | Evidence |
|---|---|---|---|---|
| Meet or exceed our long-term adjusted EPS growth target of 12% to 15% in 2027eps · made 2026-10-27 | 12% to 15%FY 2027 | — | Pending | 8-K 0001628280-26-0674 |
| Ecolab's adjusted operating income margin to reach 20% in 2027margin · made 2026-10-27 | 20%FY 2027 | — | Pending | 8-K 0001628280-26-0674 |
| We expect organic sales to grow at the upper end of our 5% to 7% target in 2027revenue · made 2026-10-27 | 5% to 7%FY 2027 | — | Pending | 8-K 0001628280-26-0674 |
| 4Q 2026: Expect adjusted diluted EPS in the $2.13 to $2.23 range, +2% to 7%eps · made 2026-10-27 | $2.13 - $2.23Q4 2026 | — | Pending | 8-K 0001628280-26-0674 |
| 2026 Adjusted Diluted EPS Outlook: $8.10 - $8.20, +8% - 9%eps · made 2026-10-27 | $8.10 - $8.20FY 2026 | — | Pending | 8-K 0001628280-26-0674 |
4. What matters next
One deciding measurable condition plus up to two supporting checkpoints.
The deciding condition
EPS for the guided period lands within $8.1–$8.2
StrengthensReported EPS above $8.2
InvalidatesReported EPS below $8.1
Ecolab expects full year 2026 adjusted diluted EPS of $8.10 to $8.20 and Q4 2026 adjusted diluted EPS of $2.13 to $2.23.
5. Risks that changed
New or materially worsened items only; unchanged boilerplate is omitted.
No new or materially worsened risk has been source-verified.
From 10-K filings · EDGAR
11
new risk disclosures added
11
old ones removed
FY2025 10-K vs prior year, boilerplate filtered out — these are idiosyncratic changes, and tone is slightly less negative.
New risk disclosure #1
“Table of Contents Strategic Risks If we are unsuccessful in integrating acquisitions our business could be materially and adversely affected. We seek to acquire complementary businesses as part of our long-term strat…”
New risk disclosure #2
“ We evaluate the recoverability of deferred tax assets and the need for deferred tax liabilities based on available evidence. This process involves significant management judgment about assumptions that are subject to c…”
New risk disclosure #3
“Table of Contents Our indebtedness may limit our operations and our use of our cash flow, and any failure to comply with the covenants that apply to our indebtedness could materially and adversely affect our liquidity an…”
6. Evidence drawer
Source location, short anchor and visible arithmetic for every verified claim.
DC1 10-Q / 10-K XBRL filings (US-GAAP, via EDGAR)
Operating income · quarter ended 2026-06-30Operating income: +36.5% year over year
(757,900,000 − 555,300,000) ÷ 555,300,000 = +36.5% YoYDC2 10-Q / 10-K XBRL filings (US-GAAP, via EDGAR)
Net income · quarter ended 2026-06-30Net income: +32.9% year over year
(534,900,000 − 402,500,000) ÷ 402,500,000 = +32.9% YoYDC3 10-Q / 10-K XBRL filings (US-GAAP, via EDGAR)
Revenue · quarter ended 2026-06-30Revenue: +19.5% year over year
(4,415,400,000 − 3,695,000,000) ÷ 3,695,000,000 = +19.5% YoYWN1 8-K Exhibit 99.1 (earnings release, via EDGAR)
Guidance disclosed for Q3 FY2026EPS for the guided period lands within $8.1–$8.2
Strengthens: Reported EPS above $8.2 · Invalidates: Reported EPS below $8.1