ECOLAB INC.
For the period ended Sep 30, 2026. Filed Oct 29, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Oct 29, 2026
ECL$300.68-1.7%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-06-30; filed 2026-08-06.
0001628280-26-053886
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-10-29.
0001628280-26-068208
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 152 previous paragraphs and 154 current paragraphs.
87 unchanged; 61 reworded; 5 added; 4 removed; 0 previous and 1 current paragraphs rearranged.
Tables are not compared: 21 previous and 21 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (5)
Current report
•Organic sales for Global Pest Elimination increased 8% to $358.8 million.
Current report
Organic operating income increased for Global Pest Elimination in the third quarter and first nine months of 2026, respectively. Organic operating income margins decreased and increased for Global Pest Elimination in the third quarter and first nine months of 2026.
Current report
Cash used for acquisitions and investments in affiliates, net of cash acquired, in the first nine months of 2026 and 2025 was $4.7 billion and $0.5 million, respectively. Cash used for acquisitions and investments in affiliates, net of cash acquired, in 2026 primarily relates to the CoolIT Systems acquisition.
Current report
In October 2026, we settled ₣550 million of our existing Swiss Franc cross-currency swap derivative contracts that were designated as net investment hedges and simultaneously executed replacement cross-currency swap derivative contracts for the same notional value. There was no material impact on the Consolidated Statements of Income as a result of these transactions.
Current report
•Adjusted interest expense, net
Removed paragraphs (4)
Previous report
•Organic sales for Global Pest Elimination increased 7% to $345.2 million.
Previous report
Organic operating income and organic operating income margin increased in the second quarter and first six months of 2026 for our Global Pest Elimination segment.
Previous report
On July 2, 2026, the Company completed its previously announced acquisition of CoolIT Systems. Refer to Note 3, "Acquisitions," of the Notes to the Consolidated Financial Statements.
Previous report
In July 2026, the Company entered into cross-currency swap derivative contracts with aggregate notional amounts of CNH 3,385 million, €150 million and CAD 120 million. These cross-currency swap derivative contracts are designated as net investment hedges of the Company’s Chinese Yuan, Euro and Canadian dollar denominated exposures from its investments in certain of its Chinese Yuan, Euro and Canadian dollar denominated functional currency subsidiaries.
Reworded paragraphs (61)
Previous wording
OVERVIEW OF THE SECOND QUARTER ENDED JUNE 30, 2026
Current wording
OVERVIEW OF THE THIRD QUARTER ENDED SEPTEMBER 30, 2026
Previous wording
When comparing second quarter 2026 against second quarter 2025, sales performance was as follows:
Current wording
When comparing third quarter 2026 against third quarter 2025, sales performance was as follows:
Previous wording
•Reported net sales increased 10% to $4,415.4 million and organic sales increased 5%.
Current wording
•Reported net sales increased 13% to $4,694.8 million and organic sales increased 7%.
Previous wording
•Organic sales for our Global Water segment increased 4% to $2,098.5 million driven by accelerating growth in High-Tech, Food & Beverage and Light Water.
Current wording
•Organic sales for our Global Water segment increased 9% to $2,239.4 million driven by accelerating growth in High-Tech, Food & Beverage and Light Water.
Previous wording
•Organic sales for our Global Institutional & Specialty segment increased 4% to $1,617.4 million driven by improved growth in Institutional and strong growth in Specialty.
Current wording
•Organic sales for our Global Institutional & Specialty segment increased 3% to $1,638.3 million driven by steady growth in Institutional and strong growth in Specialty.
Previous wording
•Organic sales for our Global Life Sciences segment accelerated 15% to $221.0 million.
Current wording
•Organic sales for our Global Life Sciences segment accelerated 17% to $215.8 million.
Previous wording
When comparing second quarter 2026 against second quarter 2025, our financial performance was as follows:
Current wording
When comparing third quarter 2026 against third quarter 2025, our financial performance was as follows:
Previous wording
•Reported operating income increased 7% to $757.9 million. Adjusted operating income increased 10%.
Current wording
•Reported operating income increased 7% to $810.5 million. Adjusted operating income increased 14%.
Previous wording
•Net income attributable to Ecolab increased 2% to $534.9 million. Excluding the impact of special (gains) and charges and discrete tax items from both 2026 and 2025 reported results, our adjusted net income attributable to Ecolab increased 9%.
Current wording
•Net income attributable to Ecolab decreased 6% to $551.3 million. Excluding the impact of special (gains) and charges and discrete tax items from both 2026 and 2025 reported results, our adjusted net income attributable to Ecolab increased 4%.
Previous wording
•Reported diluted EPS increased 3% to $1.90. Excluding the impact of special (gains) and charges and discrete tax items from both 2026 and 2025 reported results, adjusted diluted EPS increased 11% to $2.09 in the second quarter of 2026.
Current wording
•Reported diluted EPS decreased 5% to $1.95. Excluding the impact of special (gains) and charges and discrete tax items from both 2026 and 2025 reported results, adjusted diluted EPS increased 5% to $2.18 in the third quarter of 2026.
Previous wording
•Our reported tax rate was 22.3% during the second quarter of 2026, compared to 19.9% during the second quarter of 2025. Excluding the tax rate impact of special (gains) and charges and discrete tax items from both 2026 and 2025 results, our adjusted tax rate was 21.0% during the second quarter of 2026, compared to 20.8% during the second quarter of 2025.
Current wording
•Our reported tax rate was 20.2% during the third quarter of 2026, compared to 17.8% during the third quarter of 2025. Excluding the tax rate impact of special (gains) and charges and discrete tax items from both 2026 and 2025 results, our adjusted tax rate was 20.4% during the third quarter of 2026, compared to 20.0% during the third quarter of 2025.
Previous wording
Our reported gross margin was 44.1% and 44.8% for the second quarter of 2026 and 2025, respectively. Our reported gross margin was 43.8% and 44.5% for the first six months of 2026 and 2025, respectively. Special (gains) and charges included in items impacting cost of sales are shown within the “Special (Gains) and Charges” table below.
Current wording
Our reported gross margin was 44.1% and 44.8% for the third quarter of 2026 and 2025, respectively. Our reported gross margin was 43.9% and 44.6% for the first nine months of 2026 and 2025, respectively. Special (gains) and charges included in items impacting cost of sales are shown within the “Special (Gains) and Charges” table below.
Previous wording
Excluding the impacts of special (gains) and charges, foreign currency translation and acquisitions and divestitures within COS, second quarter 2026 and 2025 organic gross margin was 44.9% and 44.8%, respectively, and for the first six months of 2026 and 2025 was 44.5% and 44.6%, respectively. Our organic gross margin increased when comparing the second quarter of 2026 against the second quarter of 2025 as accelerating pricing offset higher commodity costs.
Current wording
Excluding the impacts of special (gains) and charges, foreign currency translation and acquisitions and divestitures within COS, third quarter 2026 and 2025 organic gross margin was 44.9% and 44.8%, respectively, and for the first nine months of 2026 and 2025 was 44.6% and 44.7%, respectively. Our organic gross margin increased when comparing the third quarter of 2026 against the third quarter of 2025 as accelerating pricing offset higher commodity costs.
Previous wording
Selling, general and administrative (“SG&A”) expenses as a percentage of sales were 25.9% and 26.5% for the second quarter and first six months of 2026, respectively, compared to 26.5% and 27.4% for the second quarter and first six months of 2025, respectively. The SG&A ratio to sales in the second quarter of 2026 decreased as good productivity gains and the favorable impact of recent acquisitions more than offset growth-oriented investments in the business.
Current wording
Selling, general and administrative (“SG&A”) expenses as a percentage of sales were 25.1% and 26.0% for the third quarter and first nine months of 2026, respectively, compared to 25.9% and 26.9% for the third quarter and first nine months of 2025, respectively. The SG&A ratio to sales in the third quarter of 2026 improved as good productivity gains and the favorable impact of recent acquisitions more than offset growth-oriented investments in the business.
Previous wording
Special (Gains) and Charges were $57.7 million ($50.5 million after tax) or $0.18 per diluted share and $115.4 million ($96.0 million after tax) or $0.34 per diluted share in the second quarter and first six months of 2026, respectively, primarily relating to our One Ecolab initiative and acquisition and integration activities. Special (Gains) and Charges were $27.1 million ($20.6 million after tax) or $0.07 per diluted share and $61.4 million ($45.7 million after tax) or $0.16 per diluted share in the second quarter and first six months of 2025, respectively, primarily relating to our One Ecolab initiative and gains relating to the sale of a facility and an equity method investment.
Current wording
Special (gains) and charges were $82.9 million ($65.2 million after tax) or $0.23 per diluted share and $198.3 million ($161.2 million after tax) or $0.57 per diluted share in the third quarter and first nine months of 2026, respectively, primarily relating to our One Ecolab initiative and acquisition and integration activities. Special (gains) and charges were $26.5 million ($22.0 million after tax) or $0.08 per diluted share and $87.9 million ($67.7 million after tax) or $0.24 per diluted share in the third quarter and first nine months of 2025, respectively, primarily relating to our One Ecolab initiative and acquisition and integration activities, partially offset by gains relating to the sale of a facility and an equity method investment.
Previous wording
As it relates to the One Ecolab initiative, we anticipate total restructuring costs of $328 million ($256 million after tax) or $0.90 per diluted share and special charges of $97 million ($76 million after tax) or $0.26 per diluted share by the end of 2027, which is expected to generate estimated annualized cost savings of $325 million in continuing operations by 2027. One Ecolab has delivered $180 million of cumulative cost savings.
Current wording
As it relates to the One Ecolab initiative, we anticipate total restructuring costs of $328 million ($256 million after tax) or $0.90 per diluted share and special charges of $97 million ($76 million after tax) or $0.26 per diluted share by the end of 2027, which is expected to generate estimated annualized cost savings of $325 million in continuing operations by 2027. One Ecolab has delivered $217 million of cumulative cost savings.
Previous wording
Our reported operating income increased 7% and 9% in the second quarter and first six months of 2026, respectively, versus the comparable periods of 2025. Our reported operating income for 2026 and 2025 was impacted by special (gains) and charges; excluding the impact of special (gains) and charges from 2026 and 2025 reported results, our adjusted operating income increased 10% and 12% in the second quarter and first six months of 2026, respectively.
Current wording
Our reported operating income increased 7% and 8% in the third quarter and first nine months of 2026, respectively, versus the comparable periods of 2025. Our reported operating income for 2026 and 2025 was impacted by special (gains) and charges; excluding the impact of special (gains) and charges from 2026 and 2025 reported results, our adjusted operating income increased 14% and 13% in the third quarter and first nine months of 2026, respectively.
Previous wording
As shown in the previous table, foreign currency had a 2 and 3 percentage point positive impact on adjusted operating income growth for the second quarter and first six months of 2026, respectively. Foreign currency had a neutral and 2 percentage point negative impact on adjusted operating income growth for the second quarter and first six months of 2025, respectively.
Current wording
As shown in the previous table, foreign currency had a neutral and 3 percentage point positive impact on adjusted operating income growth for the third quarter and first nine months of 2026, respectively. Foreign currency had a 1 percentage point positive and 1 percentage point negative impact on adjusted operating income growth for the third quarter and first nine months of 2025, respectively.
Previous wording
Reported other (income) expense decreased to ($8.8) million from ($13.0) million in the second quarter of 2026 compared to the second quarter of 2025, respectively, and decreased to ($17.6) million from ($26.0) million in the first six months of 2026 compared to the first six months of 2025, respectively.
Current wording
Reported other (income) expense decreased to ($8.8) million from ($12.8) million in the third quarter of 2026 compared to the third quarter of 2025, respectively, and decreased to ($26.4) million from ($38.8) million in the first nine months of 2026 compared to the first nine months of 2025, respectively.
Previous wording
Reported net interest expense was $73.1 million and $63.2 million in the second quarter of 2026 and 2025, respectively, and $145.8 million and $121.5 million in the first six months of 2026 and 2025, respectively. In the second quarter of 2026, we incurred $6.6 million of interest expense special charges associated with debt used to fund the CoolIT Systems acquisition. The increase in adjusted net interest expense when comparing 2026 against 2025 reflects the impact from higher interest expense from the Ovivo Electronics acquisition partially offset by lower interest rates.
Current wording
Reported net interest expense was $124.8 million and $55.3 million in the third quarter of 2026 and 2025, respectively, and $270.6 million and $176.8 million in the first nine months of 2026 and 2025, respectively. The increase in net interest expense when comparing 2026 against 2025 reflects the impact of financing the Ovivo Electronics and CoolIT Systems acquisitions.
Previous wording
Our reported tax rate was 22.3% and 19.9% for the second quarter of 2026 and 2025, respectively, and 22.1% and 20.1% for the first six months of 2026 and 2025, respectively. The change in our tax rate for the second quarter and first six months versus the comparable periods of 2025 was driven primarily by discrete tax items and special (gains) and charges. The change in our tax rate includes the tax impact of special (gains) and charges and discrete tax items, which have impacted the comparability of our historical reported tax rates, as amounts included in our special (gains) and charges are derived from tax jurisdictions with rates that vary from our tax rate, and discrete tax items are not necessarily consistent across periods. The tax impact of special (gains) and charges and discrete tax items will likely continue to impact comparability of our reported tax rate in the future.
Current wording
Our reported tax rate was 20.2% and 17.8% for the third quarter of 2026 and 2025, respectively, and 21.4% and 19.2% for the first nine months of 2026 and 2025, respectively. The change in our tax rate for the third quarter and first nine months versus the comparable periods of 2025 was driven primarily by discrete tax items and special (gains) and charges. The change in our tax rate includes the tax impact of special (gains) and charges and discrete tax items, which have impacted the comparability of our historical reported tax rates, as amounts included in our special (gains) and charges are derived from tax jurisdictions with rates that vary from our tax rate, and discrete tax items are not necessarily consistent across periods. The tax impact of special (gains) and charges and discrete tax items will likely continue to impact comparability of our reported tax rate in the future.
Previous wording
We recognized net tax expense related to discrete tax items of $4.2 million and $8.6 million in the second quarter and first six months of 2026, respectively. This included a tax benefit of $2.3 million and $14.3 million in the second quarter and first six months of 2026, respectively, associated with share-based compensation excess tax benefits. The remaining net tax expense of $6.5 million and $22.9 million in the second quarter and first six months of 2026, respectively, is from prior year return adjustments, audit settlements, unrecognized tax benefits, and other changes in estimates.
Current wording
We recognized net tax benefit related to discrete tax items of $1.1 million and net tax expense of $7.5 million in the third quarter and first nine months of 2026, respectively. This included a tax benefit of $2.0 million and $16.3 million in the third quarter and first nine months of 2026, respectively, associated with share-based compensation excess tax benefits. The remaining net tax expense of $0.9 million and $23.8 million in the third quarter and first nine months of 2026, respectively, is from prior year return adjustments, audit settlements, unrecognized tax benefits, and other changes in estimates.
Previous wording
We recognized net tax benefits related to discrete tax items of $5.0 million and $5.5 million in the second quarter and first six months of 2025, respectively. This included a tax benefit of $2.6 million and $9.9 million in the second quarter and first six months of 2025, respectively, associated with share-based compensation excess tax benefits. The remaining net tax benefit of $2.4 million and net tax expense of $4.4 million in the second quarter and first six months of 2025, respectively, is from the filing of foreign tax returns, audit settlements, unrecognized tax benefits, and other changes in estimates.
Current wording
We recognized net tax benefits related to discrete tax items of $16.3 million and $21.8 million in the third quarter and first nine months of 2025, respectively. This included a tax benefit of $2.7 million and $12.6 million in the third quarter and first nine months of 2025, respectively, associated with share-based compensation excess tax benefits. The remaining net tax benefit of $13.6 million and $9.2 million in the third quarter and first nine months of 2025, respectively, was from the filing of tax returns, audit settlements, unrecognized tax benefits, and other changes in estimates.
Previous wording
Currency translation had a favorable impact of approximately $0.04 and $0.12 per share on diluted EPS for the second quarter and first six months of 2026, respectively, when compared to the comparable periods of 2025.
Current wording
Currency translation was neutral and had a favorable impact of approximately $0.12 per share on diluted EPS for the third quarter and first nine months of 2026, respectively, when compared to the comparable periods of 2025.
Previous wording
Fixed currency net sales and operating income for the second quarter and six months ended June 30, 2026 for our reportable segments are shown in the following tables:
Current wording
Fixed currency net sales and operating income for the third quarter and nine months ended September 30, 2026 for our reportable segments are shown in the following tables:
Previous wording
Unless otherwise noted, the following segment performance commentary compares the second quarter and first six months of 2026 against the second quarter and first six months of 2025.
Current wording
Unless otherwise noted, the following segment performance commentary compares the third quarter and first nine months of 2026 against the third quarter and first nine months of 2025.
Previous wording
Fixed currency sales increased 10% and 9% for the second quarter and first six months of 2026, respectively, including a benefit from the acquisition of Ovivo Electronics. Organic sales for Global Water increased 4% and 3% in the second quarter and first six months of 2026, respectively, driven by accelerating growth in High-Tech, Food & Beverage and Light Water.
Current wording
Fixed currency sales increased 20% and 13% for the third quarter and first nine months of 2026, respectively, including a benefit from the acquisitions of Ovivo Electronics and CoolIT Systems. Organic sales for Global Water increased 9% and 5% in the third quarter and first nine months of 2026, respectively, driven by accelerating growth in High-Tech, Food & Beverage and Light Water. Heavy Water and Paper both returned to solid growth.
Previous wording
Food & Beverage organic sales increased 7% and 6% in the second quarter and first six months of 2026, respectively, driven by new business wins and pricing. Heavy Water organic sales decreased 1% and 2% in the second quarter and first six months of 2026, respectively, as growth in downstream was offset by softer sales in basic industries. High-Tech organic sales increased 29% and 27% in the second quarter and first six months of 2026, respectively, reflecting new business wins across microelectronics and data centers. Light Water organic sales increased 3% in both the second quarter and first six months of 2026 driven by new business wins. Paper organic sales were flat and decreased 1% in the second quarter and first six months of 2026, respectively, driven by new business wins that overcame soft but stabilizing customer production rates.
Current wording
Food & Beverage organic sales increased 8% and 6% in the third quarter and first nine months of 2026, respectively, driven by new business wins and pricing. Heavy Water organic sales increased 4% and remained flat in the third quarter and first nine months of 2026, respectively, as growth in downstream was offset by softer sales in basic industries. High-Tech organic sales increased 63% and 40% in the third quarter and first nine months of 2026, respectively, reflecting new business wins across microelectronics and data centers. Light Water organic sales increased 5% and 3% in the third quarter and first nine months of 2026 driven by new business wins. Paper organic sales increased 6% and 1% in the third quarter and first nine months of 2026, respectively, driven by new business wins that overcame stabilizing customer production rates.
Previous wording
Organic operating income increased and remained flat for Global Water in the second quarter and first six months of 2026, respectively. Organic operating income margins decreased for Global Water in the second quarter and first six months of 2026.
Current wording
Organic operating income increased for Global Water in the third quarter and first nine months of 2026, respectively. Organic operating income margins increased and decreased for Global Water in the third quarter and first nine months of 2026.
Previous wording
Organic operating income margins decreased 0.5 percentage points during the second quarter of 2026 as the 2.4 percentage point positive impact of accelerating pricing was offset by the 3.2 percentage point impact of investments in the business and higher commodity costs. Organic operating income margins decreased 0.4 percentage points during the first six months of 2026 as the 2.3 percentage point positive impact of pricing and volume growth was more than offset by the 2.8 percentage point impact of investments in the business and higher commodity costs.
Current wording
Organic operating income margins increased 0.1 percentage points during the third quarter of 2026 as the 5.0 percentage point positive impact of strong pricing and improved productivity was offset by the 4.6 percentage point impact of investments in the business and higher commodity costs. Organic operating income margins decreased 0.2 percentage points during the first nine months of 2026 as the 3.3 percentage point negative impact of investments in the business and higher commodity costs was partially offset by the 3.5 percentage point positive impact of strong pricing and productivity.
Previous wording
Fixed currency and organic sales increased 4% in both the second quarter and first six months of 2026, respectively, with improved growth in Institutional and strong growth in Specialty.
Current wording
Fixed currency and organic sales increased 3% in both the third quarter and first nine months of 2026, respectively, with steady growth in Institutional and strong growth in Specialty.
Previous wording
At an operating segment level, Institutional organic sales increased 3% and 2% in the second quarter and first six months of 2026, respectively, driven by continued growth in sales to hospitality customers, which more than offset softer sales to hospitals. Specialty organic sales increased 6% and 7% in the second quarter and first six months of 2026, respectively, as new business wins and continued pricing more than offset softer industry trends.
Current wording
At an operating segment level, Institutional organic sales increased 2% in both the third quarter and first nine months of 2026, respectively, driven by strong pricing and new business wins, which more than offset softer industry trends. Specialty organic sales increased 5% and 7% in the third quarter and first nine months of 2026, respectively, as new business wins and continued pricing more than offset softer industry trends.
Previous wording
Organic operating income and organic operating income margin increased in the second quarter and first six months of 2026 for our Global Institutional & Specialty segment.
Current wording
Organic operating income and organic operating income margin increased in the third quarter and first nine months of 2026 for our Global Institutional & Specialty segment.
Previous wording
Organic operating income margins increased 0.5 percentage points during the second quarter of 2026 as the 3.0 percentage point positive impact from accelerating pricing was partially offset by the 2.2 percentage point impact of higher supply chain costs, including commodity cost inflation, and investments in the business. Organic operating income margins increased 1.2 percentage points during the first six months of 2026 as the 2.9 percentage point positive impact of pricing was partially offset by the 1.6 percentage point impact of higher commodity costs and investments in the business.
Current wording
Organic operating income margins increased 1.1 percentage points during the third quarter of 2026 as the 4.2 percentage point positive impact from strong pricing and improved productivity was partially offset by the 3.1 percentage point impact of higher commodity costs and investments in the business. Organic operating income margins increased 1.2 percentage points during the first nine months of 2026 as the 3.0 percentage point positive impact of strong pricing was partially offset by the 2.0 percentage point impact of higher commodity costs and investments in the business.
Previous wording
Fixed currency sales increased 9% in both the second quarter and first six months of 2026, respectively, reflecting a 2% benefit in the second quarter and a 1% benefit in the first six months from attractive, targeted acquisitions in North America. Organic sales for Global Pest Elimination increased 7% in both the second quarter and first six months of 2026, driven by gains in restaurants, food retail, food & beverage, and healthcare.
Current wording
Fixed currency sales increased 9% in both the third quarter and first nine months of 2026, respectively, reflecting a 1% benefit from acquisitions in the third quarter and first nine months. Organic sales for Global Pest Elimination increased 8% in both the third quarter and first nine months of 2026, driven by new business in food & beverage, food retail, and restaurants.
Previous wording
Organic operating income margins increased 0.9 percentage points during the second quarter of 2026, as the 5.4 percentage point positive impact from pricing, higher volume and improved productivity was partially offset by the 4.7 percentage point impact of investments in the business, including pest intelligence. Organic operating income margins increased 0.7 percentage points during the first six months of 2026, as the 5.3 percentage point positive impact from pricing, higher volume and improved productivity was partially offset by the 4.8 percentage point impact of investments in the business, including pest intelligence.
Current wording
Organic operating income margins decreased 0.1 percentage points during the third quarter of 2026, as the 4.8 percentage point negative impact of investments in the business, including pest intelligence was partially offset by the 4.4 percentage point positive impact from strong pricing, higher volume and improved productivity. Organic operating income margins increased 0.4 percentage points during the first nine months of 2026, as the 4.5 percentage point positive impact from strong pricing, improved productivity and higher volume was partially offset by the 4.6 percentage point impact of investments in the business, including pest intelligence.
Previous wording
Fixed currency and organic sales for Global Life Sciences increased 15% and 13% in the second quarter and first six months of 2026, respectively, driven by continued growth in bioprocessing and pharmaceuticals & personal care, and improved growth in purification.
Current wording
Fixed currency and organic sales for Global Life Sciences increased 17% and 14% in the third quarter and first nine months of 2026, respectively, driven by continued growth in bioprocessing, pharmaceuticals & personal care, and purification.
Previous wording
Organic operating income and organic operating income margins increased in the second quarter and first six months of 2026 for our Global Life Sciences segment.
Current wording
Organic operating income and organic operating income margins increased in the third quarter and first nine months of 2026 for our Global Life Sciences segment.
Previous wording
Organic operating income margins increased 5.5 percentage points during the second quarter of 2026, as the 9.0 percentage point positive impact from higher volume, pricing and a spike in bioprocessing was partially offset by the 2.9 percentage point negative impact from investments in the business and higher commodity costs. Organic operating income margins increased 3.7 percentage points during the first six months of 2026, as the 6.0 percentage point positive impact from higher volume, pricing and a spike in bioprocessing was partially offset by the 2.5 percentage point negative impact from investments in the business and higher commodity costs.
Current wording
Organic operating income margins increased 5.0 percentage points during the third quarter of 2026, as the 14.2 percentage point positive impact from supply chain efficiencies and strong pricing was partially offset by the 8.6 percentage point negative impact from investments in the business and higher commodity costs. Organic operating income margins increased 4.1 percentage points during the first nine months of 2026, as the 9.7 percentage point positive impact from strong pricing, supply chain efficiencies and higher volume was partially offset by the 5.6 percentage point negative impact from investments in the business, higher commodity costs and unfavorable mix.
Previous wording
Consistent with our internal management reporting, Corporate amounts in the tables beginning on page 37 include intangible asset amortization specifically from the Nalco, Purolite and Ovivo Electronics transactions and special (gains) and charges that are not allocated to our reportable segments. Items included within special (gains) and charges are shown in the table on page 34.
Current wording
Consistent with our internal management reporting, Corporate amounts in the tables beginning on page 37 include intangible asset amortization specifically from the Nalco, Purolite, Ovivo Electronics and CoolIT Systems transactions and special (gains) and charges that are not allocated to our reportable segments. Items included within special (gains) and charges are shown in the table on page 34.
Showing the first 40 of 61 pairs. Open the source sections for the rest.
Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
Cash used for investing activities is primarily impacted by business acquisitions and capital investments in the business.