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FSI Inks New Contract for Food-Grade Manufacturing Business
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Flexible Solutions International, Inc. (FSI - Free Report) entered into a contract with a U.S.-based company to manufacture food-grade products. The contract is for a term of five years with an automatic renewal for up to five additional successive five-year terms if neither of the parties provides written notice of a non-renewal at least 180 days prior to the conclusion of the then-current term. The products will be manufactured for the U.S.-based company on a non-exclusive basis.
Revenues are expected to begin in roughly six months after allowing FSI to expand its clean room space and install the equipment required to produce the product. FSI predicts the contract to potentially generate revenues per year between $15 million and $30 million or more.
In addition to being one of the leading manufacturers of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry, FSI is expanding its presence in the food and nutrition supplement manufacturing markets. The contract further underscores FSI’s move to enter the food-grade market and build a strong base as it looks to obtain more business in food-grade products.
FSI’s shares have soared 228.7% in the past year against a decline of 17% in its industry.
The Zacks Consensus Estimate for Carpenter Technology’s current-year earnings is pegged at $6.77 per share. CRS beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 14.1%. CRS’ shares have soared 207.1% in the past year.
The Zacks Consensus Estimate for Ingevity’s current-year earnings is pegged at $2.75 per share. NGVT surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed it once, with an average earnings surprise of 95.4%. The stock has gained 8.6% in the past year.
The Zacks Consensus Estimate for Fortuna Mining’s current-year earnings is pegged at 53 cents per share, indicating a year-over-year rise of 140.9%. FSM’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters while missing in the other two, with an average earnings surprise of 53.6%. The stock has gained 38% in the past year.
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FSI Inks New Contract for Food-Grade Manufacturing Business
Flexible Solutions International, Inc. (FSI - Free Report) entered into a contract with a U.S.-based company to manufacture food-grade products. The contract is for a term of five years with an automatic renewal for up to five additional successive five-year terms if neither of the parties provides written notice of a non-renewal at least 180 days prior to the conclusion of the then-current term. The products will be manufactured for the U.S.-based company on a non-exclusive basis.
Revenues are expected to begin in roughly six months after allowing FSI to expand its clean room space and install the equipment required to produce the product. FSI predicts the contract to potentially generate revenues per year between $15 million and $30 million or more.
In addition to being one of the leading manufacturers of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry, FSI is expanding its presence in the food and nutrition supplement manufacturing markets. The contract further underscores FSI’s move to enter the food-grade market and build a strong base as it looks to obtain more business in food-grade products.
FSI’s shares have soared 228.7% in the past year against a decline of 17% in its industry.
Image Source: Zacks Investment Research
FSI’s Zacks Rank and Key Picks
FSI currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Carpenter Technology Corporation (CRS - Free Report) , Ingevity Corporation (NGVT - Free Report) and Fortuna Mining Corp. (FSM - Free Report) . While CRS and NGVT sports a Zacks Rank #1 (Strong Buy) each at present, FSM carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Carpenter Technology’s current-year earnings is pegged at $6.77 per share. CRS beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 14.1%. CRS’ shares have soared 207.1% in the past year.
The Zacks Consensus Estimate for Ingevity’s current-year earnings is pegged at $2.75 per share. NGVT surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed it once, with an average earnings surprise of 95.4%. The stock has gained 8.6% in the past year.
The Zacks Consensus Estimate for Fortuna Mining’s current-year earnings is pegged at 53 cents per share, indicating a year-over-year rise of 140.9%. FSM’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters while missing in the other two, with an average earnings surprise of 53.6%. The stock has gained 38% in the past year.