Veritiv Corp Stock Price, News & Analysis

Veritiv Corporation (NYSE: VRTV) reported strong first-quarter results for 2022, with net sales rising by 19.2% to $1.9 billion. Net income surged to $78.5 million and diluted EPS reached $5.12. The company's Adjusted EBITDA improved by 100.8% to $119.5 million, yielding an Adjusted EBITDA margin of 6.4%. Veritiv also announced a revised full-year guidance, predicting net income between $270 million and $305 million and diluted EPS between $18.00 and $21.00. The announcement follows the recent divestiture of its Canada business.

Veritiv Corporation (NYSE: VRTV) has finalized the sale of its Veritiv Canada, Inc. business to Imperial Dade as of May 2, 2022. This transaction affects approximately 900 employees in Canada, who will now work for Imperial Dade. CEO Sal Abbate emphasized that this strategic move allows Veritiv to concentrate on higher growth and margin opportunities, especially in Packaging and Facility Solutions. Greenhill & Co. and Sidley Austin LLP facilitated the transaction as financial and legal advisors, respectively.

Veritiv Corporation (NYSE: VRTV) will host a conference call on May 9, 2022, at 9 a.m. EDT, to discuss its First Quarter 2022 financial results. U.S. and Canadian callers can dial (833) 968-2031, while international callers can use (236) 714-2130 with conference ID 4679335. A replay will be available shortly after the call on the company’s investor relations website. Veritiv, based in Atlanta, is a Fortune 500 company providing packaging, JanSan, hygiene products, and logistics solutions.

Veritiv Corporation (NYSE: VRTV) announced the signing of a definitive purchase agreement to sell its Veritiv Canada, Inc. business to Imperial Dade, aligning with its strategy to focus on higher growth and margin opportunities. The deal, expected to close by Q2 2022 pending regulatory approval, will result in approximately 900 Canadian employees transitioning to Imperial Dade. Veritiv plans to use proceeds from the sale to fund a $200 million share repurchase program and other growth initiatives.

Veritiv Corporation (NYSE: VRTV) announced the promotion of Susan Salyer to General Counsel and Corporate Secretary, effective June 1, 2022. Salyer, who has been with Veritiv since 2012, will oversee the company's Legal and Corporate Security teams along with her current Compliance and Sustainability roles. She succeeds Mark Hianik, who will retire after playing a crucial role in establishing Veritiv's legal and compliance frameworks since its inception in 2014. CEO Sal Abbate praised Salyer’s dedication to employee empowerment and inclusion.

Veritiv Corporation (NYSE: VRTV) reported strong financial results for Q4 and the full year 2021, driven by significant growth in packaging sales and operational improvements. Q4 net sales rose to $1.9 billion, up 13.5% year-over-year, with net income of $56.9 million. Full-year net sales reached $6.9 billion, an 8% increase, with net income of $144.6 million. Adjusted EBITDA for Q4 was $115.9 million (6.2% margin), while for the full year, it was $342.6 million (5% margin). The company announced a $200 million share repurchase program aimed at enhancing shareholder value.

Veritiv Corporation (NYSE: VRTV) will hold a live conference call on March 1, 2022, at 9 a.m. EST, to discuss its fourth quarter and full year 2021 financial results. Callers can dial (833) 968-2031 within the U.S. and Canada or (236) 714-2130 internationally, using conference ID 7797766. A replay will be available shortly after the call on the company's investor relations website. Veritiv, based in Atlanta, is a Fortune 500 company providing a range of services including packaging and supply chain solutions.

Veritiv Corporation (NYSE: VRTV) announced robust financial results for Q3 2021, reporting net sales of $1.8 billion, an 11.1% increase year-over-year. Net income nearly doubled to $40 million, aided by strong demand and price pass-through strategies. Adjusted EBITDA surged 87.8% to $93.7 million, achieving a record margin of 5.3%. The company also improved its net leverage ratio to a record low of 1.5x after completing a $100 million share repurchase program, reducing shares outstanding by 11%. Full-year 2021 earnings guidance was increased, estimating diluted earnings per share between $8.00 to $9.00.

Veritiv Corporation (NYSE:VRTV) will hold a live conference call on November 3, 2021, at 9 a.m. EDT to discuss its third quarter 2021 financial results. U.S. and Canadian callers can participate by dialing (833) 968-2031, while international attendees can call (236) 714-2130 using conference ID 4715619. The call will also be available for online listening at ir.veritivcorp.com. A replay will be accessible shortly after the event.