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Ecolab to repurchase $500 mln of its own shares in 2022

34830 ecolab to repurchase 500 mln of its own shares in 2022

Ecolab Inc. ECL, -2.24% said Monday it’s planning to buy back $500 million of its own shares in 2022. The water treatment company had about 286 million shares outstanding on Feb. 28. “While continued rising raw material costs present a significant headwind for us and others, history shows that we have successfully navigated repeated raw material cycles before and we expect to do so once again in this cycle as our aggressive pricing and focus on cost efficiency continue to make great headway against the higher cost environment,” Chief Executive Christophe Beck said in a statement. Ecolab shares have fallen 32.5% in the year to date, while the S&P 500 SPX, -1.30% has fallen 12%.

Source: Marketwatch

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