Univar, Kerry Ingredients & Flavours Reach Taste Agreement
Univar Inc. UNVR recently announced that its fully-owned subsidiary Univar B.V. has reached an agreement with Kerry Ingredients and Flavours to distribute its taste portfolio in the Ireland, UK, Portugal and Spain.
Kerry, an internationally recognized and trusted brand, provides the largest and most innovative portfolio of taste and nutrition technologies combined with systems and functional ingredients. Kerry’s brand recognition in product markets will enable Univar enhance its taste solution offerings for all food manufacturing sectors.
Univar understands the importance of consumer demand for food safety and transparency. It also provides extensive research and product development for customers. Additionally, the company has in-depth knowledge of the food market and helps customers carry out food innovation.
Univar has underperformed the industry in the past six months. The company’s shares have lost 1.6% over this period against the industry’s 0.2% rise.
For 2018, Univar continues to expect adjusted EBITDA growth of low-double digits. Adjusted earnings per share for the year are projected in the range of $1.65-$1.85. Moreover, the company expects low double-digit growth in adjusted EBITDA for the third quarter.
Univar remains focused on cost cutting, expense management and productivity actions, which are helping the company minimize operational costs and boost margins. The company is likely to gain from its strategic initiatives, efficiency gains and prudent investments to drive growth.
Univar Inc. Price and Consensus
Univar Inc. Price and Consensus | Univar Inc. Quote
Zacks Rank & Stocks to Consider
Univar is a Zacks Rank #3 (Hold) stock.
Some better-ranked companies in the basic materials space are Huntsman Corp. HUN, Celanese Corp. CE and Air Products and Chemicals, Inc. APD.
Huntsman has an expected long-term earnings growth rate of 8.5% and a Zacks Rank #1 (Strong Buy). The company has gained 19.9% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Celanese has an expected long-term earnings growth rate of 10% and carries a Zacks Rank #1. The stock has rallied 19% in a year.
Air Products has an expected long-term earnings growth rate of 16.1% and a Zacks Rank #2 (Buy). Shares of the company have risen 13.8% in a year’s time.
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