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Earnings Results: Univar Solutions stock rallies following big earnings beat

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Univar Solutions Inc. shares surged in the extended session Monday after the specialty chemical and ingredient distributor’s quarterly results far exceeded Wall Street expectations.

Univar
UNVR,
-4.68%

shares rallied 9% after hours, following a 4.7% decline in the regular session to close at $28.33.

The company reported first-quarter net income of $180.8 million, or $1.06 a share, compared with $66.2 million, or 39 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $1.07 a share, compared with 43 cents a share in the year-ago period.

Revenue rose to $2.88 billion from $2.16 billion in the year-ago quarter.

Analysts surveyed by FactSet had forecast 83 cents a share on revenue of $2.62 billion.

“Coming off a tremendous 2021, I am truly delighted with our record financial performance in the first quarter, despite the ongoing challenges of constrained supply, transport and the pandemic,” said David Jukes, Univar chief executive, in a statement.

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