HomeTrending StocksUnivar Solutions Inc. (UNVR) stock soared on Monday, But Why?

Univar Solutions Inc. (UNVR) stock soared on Monday, But Why?

Univar Solutions Inc. (UNVR) shares gained 10.01% in the after-hours on Monday, November 1, 2021, and closed the daily trading at $28.80 per share. Even in regular trading, UNVR’s stock jumped 2.35. UNVR shares have risen 57.81% over the last 12 months, and they have moved up 0.54% in the past week. Over the past three months, the stock has gained 9.08%, while over the past six months, it has soared 10.56%.

Let’s discuss its recent news.

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UNVR recent financial results announcement

On November 1, 2021, Univar Solutions Inc. (UNVR) reported its financial results for the third quarter ended September 30, 2021.

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Q3 2021 financial highlights

  • UNVR reported total net sales of $2.5 billion in Q3 2021 compared to $2.01 billion in Q3 2020.
  • Gross profit was $616.4 million in Q3 2021 compared to $496.0 million in Q3 2020.
  • Total operating expenses were $473.2 million in Q3 2021 compared to $428.7 million in the third quarter of 2020.
  • It reported a net income of $84.4 million or earnings per diluted share of $0.49 for Q3 2021compared to $28.9 million or $0.17 per diluted share in the prior-year third quarter.
  • In Q3 2021, Adjusted EBITDA was $210.9 million compared to $164.6 million in the prior-year third quarter.
  • As of September 30, 2021, the company had liquidity of 7 million, inclusive of $220.8 million of cash-on-hand and additional availability under committed, asset-based credit facilities.

Q4 & FY 2021 financial guidance

  • For Q4, 2021, the company is expecting Adjusted EBITDA in the range of approximately $180 million to $190 million.
  • For FY 2021, Adjusted EBITDA is expected in the range of $770 million to $780 million.

UNVR collaboration with Novozymes

On September 16, 2021, Univar Solutions Inc. (UNVR) signed a new agreement with Novozymes, to expand its relationship to include biological solutions for waste and wastewater treatment in the United States and Canada. The new agreement follows previous announcements expanding the partnership into a range of markets in the United States, Canada, and Latin America.

UNVR agreement with Solvay

On August 23, 2021, Univar Solutions Inc. (UNVR) signed an agreement to serve as Solvay’s distribution partner for the agrochemical market in Brazil. The new agreement covers Solvay’s product line for agrochemical defensives, adjuvants, and fertilizers and will serve the rapidly growing agricultural sector in Brazil.

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The recent financial results took the Univar Solutions stock up on Monday and it can continue its positive performance on Tuesday as well.

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