Univar Solutions Inc. (UNVR - Free Report) inked a distribution deal with Biosynthetic Technologies to expand the presence of the latter in the beauty and personal care market throughout the United States.
Per the agreement, Univar will market, sell, warehouse and assist Biosynthetic Technologies to complete the BioEstolide product line to cater to the demand for biobased personal care ingredients. Moreover, it anticipates the partnership to be a successful one and expects to achieve innovative growth moving ahead.
BioEstolide’s products are bio-based oils, with emollient performance characteristics and originate from a natural, non-GMO source. Notably, BioEstolide products are expected to have a substantial impact on the personal care marketplace.
Univar’s broad range of personal care and beauty portfolio as well as international network of suppliers offers a detailed, worldwide perspective on product, customer and formulation trends.
The company’s shares have lost 13.7% over a year compared with a 15.1% decline recorded by its industry.
Univar, on its first-quarter earnings call, withdrew its 2020 adjusted EBITDA guidance on the impacts of the coronavirus outbreak.
Moreover, the company reduced its expected capital expenditure to $95-$115 million from $120-$130 million for 2020.
Univar Inc. Price and Consensus
Zacks Rank & Stocks to Consider
Univar currently carries a Zacks Rank #3 (Hold).
Some better-ranked companies in the basic materials space are Agnico Eagle Mines Limited (AEM - Free Report) , Franco-Nevada Corporation (FNV - Free Report) and Barrick Gold Corporation (GOLD - Free Report) .
Agnico Eagle currently sports a Zacks Rank #1 (Strong Buy) and has a projected earnings growth rate of 53.6% for 2020. The company’s shares have gained 29.7% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Franco-Nevada has an expected earnings growth rate of 19.2% for 2020. The company’s shares have surged 68.3% in the past year. It presently carries a Zacks Rank #2 (Buy).
Barrick has a projected earnings growth rate of 54.9% for the current year. The company’s shares have rallied around 75% in a year. It currently has a Zacks Rank #2.
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