Univar Inc.’s (UNVR - Free Report) subsidiary, Univar B.V., stated that it has been selected by Seaweed & Co. to distribute PureSea range of seaweed ingredient products in selected European countries. These will be distributed in the food industry.
The product range introduces flavor and brings health benefits to a wide range of food and beverage applications. Per Univar, the PureSea portfolio allows the company to boost solutions-based offerings to customers and address the emerging demand for seaweed ingredient products. Moreover, the portfolio highlights a range of innovative natural seaweed ingredients, which are convenient and easy to use.
Univar’s shares have lost 22.1% in the past year compared with the 36.4% decline of the industry.
For 2019, Univar expects adjusted EBITDA between $740 million and $760 million. The projected figure reflects 10-months earnings from the Nexeo Chemicals business and net realized synergies worth roughly $10 million. The company also expects to generate $300-$350 million in free cash flow in 2019.
Moreover, Univar projects adjusted EBITDA between $195 million and $200 million for the second quarter, up from $173.1 million in the year-ago quarter.
Zacks Rank & Other Key Picks
Univar currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the basic materials space are Materion Corporation (MTRN - Free Report) , Flexible Solutions International Inc (FSI - Free Report) and AngloGold Ashanti Limited (AU - Free Report) . These stocks currently sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Materion has an expected earnings growth rate of 27.3% for 2019. The company’s shares have gained 15.4% in the past year.
Flexible Solutions has a projected earnings growth rate of 342.9% for the current year. The company’s shares have surged 148.5% in a year’s time.
AngloGold has an estimated earnings growth rate of 90.6% for the current year. Its shares have rallied 90% in the past year.
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