Univar Solutions Inc Stock Price, News & Analysis

Univar Solutions Inc. has launched the Streamline 2022 (S22) program aimed at enhancing growth and profitability by focusing on operational efficiency and digital integration. The initiative includes potential sales of non-core assets and aims to lower leverage to 3.0x by the end of 2021, with a goal to improve EBITDA margins to 9% by 2022. Changes in leadership support this strategy, with key roles assigned to drive cost and productivity improvements. The company anticipates incurring up to $50 million in charges in 2020 but expects to raise over $200 million from asset divestments.

Univar Solutions reported Q2 2020 financial results showing a net income drop to $1.8 million from $16.3 million in Q2 2019. Earnings per share decreased to $0.01 from $0.10, and adjusted EBITDA fell to $163.2 million, an 18.8% decline. Total net sales were $2.0 billion, down 22.3% year-over-year, attributed to lower demand in industrial markets and divestiture impacts. However, gross margin improved to 24.3%, up 200 basis points, and significant liquidity of $814.5 million was reported. The company plans to enhance competitiveness via the Streamline 2022 program.

Univar Solutions (NYSE: UNVR) announced that its subsidiary, ChemPoint, is now the exclusive distributor of Gett Products' Professional Series cleaning products in North America. This partnership aims to enhance Gett's presence in the professional cleaning market. Gett's products are biodegradable and phosphate-free, adding to ChemPoint's extensive portfolio. Both companies plan to leverage modern marketing and technology to expedite growth and improve customer engagement in a traditionally stagnant industry.

Univar Solutions (NYSE: UNVR) will announce its second quarter financial results on August 6, 2020, after the market closes. A news release will be available on their website, followed by a webcast at 9:00 a.m. ET on August 7, to discuss the results. Investors can access the slide presentation and archived materials on the investor relations section of their site. This announcement highlights Univar’s role as a leading global distributor of specialty chemicals and ingredients, emphasizing its logistical capabilities and market expertise.

Univar Solutions (NYSE: UNVR) has entered an agreement with Vink Chemicals to distribute a range of biocides in Brazil. This partnership allows Univar to offer products like Vinkocide® and Grotanol® for various industries including homecare, industrial cleaning, and construction. The collaboration is expected to enhance product development through Vink's expertise and Univar's extensive distribution network. Univar Solutions aims to deliver exceptional value and support to its customers while expanding its portfolio in the specialty chemicals sector.

Univar B.V., a subsidiary of Univar Solutions (NYSE: UNVR), has been appointed as the distributor for Poth Hille & Co., Ltd.'s wax products across Europe, Russia, Ukraine, and Turkey. This partnership broadens Univar's beauty and personal care offerings, which now include a diverse portfolio of natural and traditional waxes utilized in cosmetics and skincare. Poth Hille's waxes are known for enhancing product properties such as gloss and longevity. The collaboration aims to meet the increasing demand for sustainable and eco-friendly ingredients in the beauty sector.