Yahoo Finance Univar (UNVR) and Solvay Novecare Expand Distribution Agreement
Univar Solutions Inc. UNVR announced the expansion of its distribution agreement with Solvay Group’s Novecare Coatings and Industrial Process Solutions business units for the distribution of coatings products in the United States and industrial products in the United States and Canada.
Being the only national distributor for Solvay in the coatings and industrial market, Univar will utilize its reach, technical expertise and knowledge to broaden the presence of Solvay products across the United States and Canada. Novecare Coatings chemistries have a widespread utility in paints, adhesives, inks, waterborne and architectural coatings. The industrial product lines are used in lubricants and metal working, metal cleaning and finishing, automotive and chemical manufacturing.
At present, Univar is the largest distributor of Solvay’s surfactants and additives. The Solvay team looks forward to working closely with Univar to help customers solve technical challenges and unlocking new business opportunities. This agreement is expected to enable the companies serve better in the dynamic market segments.
Shares of Univar have declined 19.8% in the past year compared with 10.9% rise of the industry.
Univar’s third-quarter adjusted earnings topped the Zacks Consensus Estimate, while sales missed the same. The company is expected to benefit from market expansion and strategic acquisitions. The company is also focused on expense management and productivity actions. It has a strong liquidity position. The company expects adjusted EBITDA in the range of $140-$145 million for the fourth quarter of 2020.It also forecasts adjusted EBITDA in the band of $629-$634 million for 2020.
Univar Inc. Price and Consensus
Univar Inc. price-consensus-chart | Univar Inc. Quote
Zacks Rank & Stocks to Consider
Univar currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks worth considering in the basic materials space are Bunge Limited BG, Silvercorp Metals Inc. SVM, and First Majestic Silver Corp. AG.
Bunge has a projected earnings growth rate of 43% for the current year. The company’s shares have gained around 16% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Silvercorp has an expected earnings growth rate of 40% for the current year. The company’s shares are up around 9.6% in the past year. It currently carries a Zacks Rank #2 (Buy).
First Majestic has an expected earnings growth rate of 75% for the current year. The company’s shares have gained around 2.8% in the past year. It currently carries a Zacks Rank #2.
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