Univar (UNVR) Tops Q1 EPS by 12c
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Univar (NYSE: UNVR) reported Q1 EPS of $0.43, $0.12 better than the analyst estimate of $0.31. Revenue for the quarter came in at $2.16 billion versus the consensus estimate of $2.16 billion.
The Company expects Adjusted EBITDA(1) to be between approximately $180 million and $190 million for the second quarter of 2021 as compared to $163.2 million for the second quarter of 2020. Adjusted EBITDA(1) for full-year 2021 is now expected to be within a range of $680 million to $700 million, compared to $635.8 million for full year 2020. The forecast versus prior year reflects the effect of divestitures and a more normalized level of essential end market(2) product margins.
The Company is forecasting 2021 year-end liquidity to be within a range of approximately $800 million to $900 million (consisting of cash and availability under committed asset-based credit facilities) and expects to reduce leverage to 2.8x, also by the end of 2021. The majority of the Company's debt obligations mature in 2024 and beyond. The Company is in full compliance with the covenants under its credit agreements.
For earnings history and earnings-related data on Univar (UNVR) click here.
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