Univar Provides Business Update Amid Coronavirus Outbreak
Zacks Investment Research | Mar 27, 2020 08:51AM ET
Univar Solutions Inc. (NYSE:UNVR) has provided an update on its business and the actions that it is taking in response to the coronavirus pandemic.
Following the initial coronavirus outbreak in January 2020, the company has developed a focused, global, cross-functional response team, which actively monitors the situation and implements additional safety steps to better protect the well-being of its employees, customers and suppliers.
Notably, Univar and its global response team have taken some immediate and thoughtful measures. These include implementing safe work practice and maintaining distribution center operations at local and regional levels to reduce disruptions and provide a safe and reliable supply of its chemicals and ingredients.
Univar continues to expect adjusted EBITDA of $150-$160 million for the first quarter of 2020. Notably, the company expects to end the first quarter with $700 million of liquidity, which includes more than $300 million in cash-on-hand and additional availability under its committed, asset-based credit facilities.
Univar is withdrawing its earlier provided 2020 outlook on the uncertainties resulting from the coronavirus outbreak. The company plans to offer revised guidance once it gets more clarity on the implications of the coronavirus outbreak on its business.
Univar envisions that it is well-placed both operationally and financially as well as equipped to adapt when circumstances evolve.
The company’s shares have lost 46.2% over a year compared with a 50.3% decline recorded by its Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.