Univar (UNVR) Tops Q3 EPS by 8c, Revenues Miss
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Univar (NYSE: UNVR) reported Q3 EPS of $0.34, $0.08 better than the analyst estimate of $0.26. Revenue for the quarter came in at $2.01 billion versus the consensus estimate of $2.15 billion.
Third Quarter 2020 Highlights
"Our team executed well this quarter, meeting the challenges of variable customer demand and macroeconomic uncertainties, all while managing our costs and advancing our newly launched Streamline 2022 (S22) program. Our financial results reflect the hard work of our dedicated team members, the strength of our supplier and customer relationships, and the benefit of a growing suite of digital capabilities. We also redesigned our global approach to growing our specialty ingredients business through our differentiated end market verticals, expanded our supplier network, and advanced our Nexeo integration, while many customers, suppliers and employees worked remotely around the world," said David Jukes, president and chief executive officer.
"Looking to Q4, we expect Adjusted EBITDA guidance between $140 million to $145 million. Our improving Q3 results continued through October, although we expect November and December, to reflect normal seasonality as well as increased uncertainty with a resurgence of COVID related slowdowns. Longer term we remain firmly committed to our S22 goals of reducing leverage to 3.0x by the end of 2021 and improving EBITDA margins to 9% by the end of 2022."
For earnings history and earnings-related data on Univar (UNVR) click here.
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