Univar Solutions Inc.’s (UNVR - Free Report) subsidiary, Univar Solutions LLC, announced the opening of an office in Ufa, Russia.
Per management, the investment is part of its current and future growth plans.
The new office is expected to meet local needs in each of the company’s markets through enhanced product, account management and communications. Also, it will be well-equipped to solve the complex challenges of suppliers and customers via regionally-focused dedicated resources.
Univar is also investing in its food ingredients business to strengthen the presence in Eastern Europe. Further, it plans to introduce personal care and beauty experts to meet the rising demand across Russia in the near future.
Univar’s shares have gained 36.1% over a year against a 14.5% decline recorded by its industry.
In the last month, the company revised the adjusted EBITDA forecast for 2019, factoring in the lower-than-expected demand for chemicals and ingredients. Further, Univar expects adjusted EBITDA of $700-$725 million for the year compared with $725-$740 million mentioned earlier.
Moreover, the company anticipates adjusted EBITDA of $155-$180 million for the fourth quarter of 2019, suggesting rise from $144 million reported a year ago.
Univar Inc. Price and Consensus
Zacks Rank & Stocks to Consider
Univar currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are General Moly, Inc (GMO - Free Report) , Franco-Nevada Corporation (FNV - Free Report) and Sandstorm Gold Ltd (SAND - Free Report) , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
General Moly has an expected earnings growth rate of 12.5% for the current fiscal year. The company’s shares have gained 17.8% in the past year.
Franco-Nevada has a projected earnings growth rate of 45.3% for 2019. The company’s shares have rallied 40.8% in a year.
Sandstorm Gold has an estimated earnings growth rate of 166.7% for the current year. Its shares have moved up 54.3% 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 Current technology will soon be outdated and replaced by these new devices.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>>