Univar (UNVR) Misses Q1 EPS by 3c, Beats on Revenues

Univar (NYSE: UNVR) reported Q1 EPS of $0.16, $0.03 worse than the analyst estimate of $0.19. Revenue for the quarter came in at $2 billion versus the consensus estimate of $1.95 billion.

Outlook

"In the first quarter we made meaningful progress against our improvement programs, as evidenced by the increase in our margins," said Carl Lukach, executive vice president and chief financial officer. "We remain focused on successfully executing our growth and productivity plans."

As a result, the Company is raising its guidance for the full year, to deliver mid-to-high single digit Adjusted EBITDA growth. Univar is now expecting mid-single digit EBITDA growth in the first half of this year, accelerating in the second half to near double-digit growth by year end.

For the second quarter of 2017, the Company expects Adjusted EBITDA growth of mid single digits from last year\'s $148.2 million.

"Our teams are energized by early signs of success from our Commercial Greatness and Operational Excellence initiatives," said Steve Newlin, chairman, president and chief executive officer. "We have the right plans in place and have made a solid start towards achieving our goals for this year and beyond."

For earnings history and earnings-related data on Univar (UNVR) click here.

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