Univar Solutions Inc.’s ( UNVR Quick Quote UNVR - Free Report) unit, ChemPoint.com Inc., has been picked by The Chemours Company ( CC Quick Quote CC - Free Report) for sales and distribution of its Viton fluoroelastomers in the United States and Canada.
Notably, Fluoroelastomers are used in molded and extruded, mechanical seals as well as other products in the various industries including aerospace, automotive, chemical processing, industrial machinery consumer electronics and oil and gas.
Viton fluoroelastomers aim to bring sustained performance and durability under extreme conditions by helping products retain strength, flexibility, seal and shape. The design can improve overall product performance when exposed to conditions like high temperatures, chemicals and corrosion. Viton fluoroelastomers helps develop products that are more reliable in harsh environments such as gaskets and seals for downhole hydraulic systems in the oil and gas exploration fields or turbocharger hoses for resisting synthetic oils and corrosive fumes.
Further, ChemPoint’s technical expertise across multiple industry segments helps to reach new markets and applications to support growth of Viton fluoroelastomers.
Univar’s shares have lost 23.7% in a year against 4.9% rise recorded by the
In third-quarter 2020, Univar recorded a profit (on a reported basis) of $28.9 million or 17 cents per share compared with $2.5 million or a penny per share in the year-ago quarter. Barring one-time items, earnings per share were 34 cents, down 5.6% year over year. However, the figure surpassed the Zacks Consensus Estimate of 23 cents.
Univar expects adjusted EBITDA for the fourth quarter to be around $140-$145 million. The company expects adjusted EBITDA in the band of $629-$634 million for 2020.
Univar is actively managing its expenses and looking to reduce costs to maintain its financial strength. It expects these savings to generate more than $40 million in cost reductions for 2020, which are incremental to the net synergies expected from the Nexeo acquisition of $45 million.
Zacks Rank & Key Picks
Univar currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the basic materials space are
B2Gold Corp ( BTG Quick Quote BTG - Free Report) and BHP Group ( BHP Quick Quote BHP - Free Report) , both carrying a Zacks Rank #2 (Buy). You can see . the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here
B2Gold has an expected earnings growth rate of 257.1% for 2020. Its shares have returned 54.3% in the past year.
BHP Group has an expected earnings growth rate of 27.9% for fiscal 2021. The company’s shares have gained 7.4% in the past year.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>