Univar Solutions Inc.’s (UNVR - Free Report) subsidiary, Univar B.V., has announced an agreement with Kaopolite Inc. for distributing Kaopolite abrasive in polishing and cleaning formulations across Europe.
Per the arrangement, Univar will distribute various grades of polish for the coatings and adhesives markets. The range also includes distribution for the household and industrial cleaning markets.
The company is already working with Imerys Kaopolite across various geographies. The latest deal further expands the parties’ collaboration to offer more high performing and sustainable products to the market.
Per Univar, customers will benefit from its focus within the household and industrial cleaning and coatings, sealants, adhesives and elastomers markets, which will be supported by strong technical and local support as well as commercial execution.
Univar’s shares have gained 6.2% in the past year against the 20.7% decline of the industry.
Univar’s adjusted earnings declined 10% year over year to 36 cents per share in third-quarter 2019. Nevertheless, the figure surpassed the Zacks Consensus Estimate of 35 cents.
Revenues went up roughly 12% year over year to $2,387.3 million in the third quarter. However, the figure lagged the Zacks Consensus Estimate of $2,503.1 million.
For 2019, Univar revised its adjusted EBITDA forecast, factoring in lower-than-expected demand for chemicals and ingredients. The company now expects adjusted EBITDA in the range of $700-$725 million compared with $725-$740 million mentioned earlier.
Moreover, Univar expects adjusted EBITDA of $155-$180 million for the fourth quarter of 2019, suggesting a rise from $144 million in the year-ago quarter.
Zacks Rank & Stocks to Consider
Univar currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Impala Platinum Holdings Ltd (IMPUY - Free Report) , Franco-Nevada Corporation (FNV - Free Report) and Agnico Eagle Mines Limited (AEM - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Impala Platinum has an expected earnings growth rate of 255.5% for the current fiscal year. The company’s shares have surged 243% in the past year.
Franco-Nevada has projected earnings growth rate of 39.3% for 2019. The company’s shares have rallied 54.6% in a year.
Agnico Eagle has an estimated earnings growth rate of 168.6% for the current year. Its shares have moved up 73% in the past year.
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