Univar solutions reports solid 2020 q1 financial results

Univar solutions reports solid 2020 first quarter financial results; maintains strong balance sheet and liquidity.q1 adjusted earnings per share $0.31.q1 earnings per share $0.33.q1 earnings per share estimate $0.28 -- refinitiv ibes data.q1 sales $2.2 billion versus refinitiv ibes estimate of $2.12 billion.liquidity as of march 31, 2020 was $834.8 million inclusive of $379.7 million in cash-on-hand and additional availability.univar solutions - elimination of merit-based salary increases for salaried employees for 2020.suspension of all hiring for exempt and nonexempt positions, except for critical positions.temporary furloughs to match changes in demand in certain locations.reduction in travel and other discretionary spending.salaried position eliminations.savings represent in aggregate over $40 million in anticipated cost reductions for 2020.reducing expected nexeo net synergies in 2020 from $40 million to $35 million due to timing delays.univar solutions' target of achieving $120 million in annual net synergies by early 2022 remains unchanged.lowering anticipated capital expenditures to $95-$115 million from $120-130 million for 2020.univar solutions - estimates liquidity at end of q2 will be approximately $750-$800 million in cash and available lines of credit.has no significant debt maturities until 2024 and is in full compliance with its credit agreements.q1 earnings per share view $0.28, revenue view $2.12 billion -- refinitiv ibes data.
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