Welcome to our dedicated page for Veritiv news (Ticker: VRTV), a resource for investors and traders seeking the latest updates and insights on Veritiv stock.
Veritiv Corporation (historically NYSE: VRTV) generates news that spans corporate transactions, financial performance, operational updates, and community initiatives. Company releases describe Veritiv as a full-service provider of packaging, JanSan and hygiene products, services and solutions, and as a distributor of print and publishing products serving customers in North America and globally from its Atlanta headquarters.
One major theme in Veritiv’s news flow is corporate transformation and ownership. In August 2023, Veritiv announced a definitive agreement to be acquired by an affiliate of Clayton, Dubilier & Rice, LLC, and in November 2023 it reported the completion of this acquisition, after which Veritiv became a privately held company and its common stock ceased trading on the New York Stock Exchange. Earlier releases covered shareholder approval of the transaction and related milestones.
Another important category of news involves financial results and guidance. Veritiv regularly reported quarterly earnings, including net income, adjusted EBITDA and free cash flow, and discussed the performance of its Packaging, Facility Solutions and Print Solutions activities. These releases often highlighted the impact of a diversified product and industry portfolio and referenced guidance for full-year results while the company was public.
Veritiv’s news also covers investor relations events, such as plans to release quarterly results, host conference calls and webcasts, and present at investor conferences. In addition, the company issues updates on corporate responsibility and community engagement, including its Veritiv Connects program and partnerships with organizations like Boys & Girls Clubs of America and Purpose Built Communities.
For readers tracking VRTV-related news, this page serves as an archive of Veritiv’s historical public-company announcements, from earnings and dividends to the CD&R acquisition and community initiatives.
Veritiv Corporation (VRTV) reported its third-quarter results for 2020, ending September 30, with net sales of $1.6 billion, a 17.3% decline year-over-year. However, net income rose to $21.1 million compared to $5.1 million in the previous year. Adjusted EBITDA increased by 10.9% to $49.9 million, with margins improving to 3.1%. Year-to-date, sales totaled $4.7 billion, down 19.2%, but net income recovered to $2.2 million from a loss of $32.9 million. Despite the ongoing COVID-19 pandemic, the company’s liquidity remains strong, with a net debt to Adjusted EBITDA ratio of 2.4x.
Veritiv Corporation (NYSE: VRTV) will hold a live conference call on November 5, 2020, at 10 a.m. EST to discuss its third quarter financial results. U.S. and Canadian participants can join at (833) 968-2246, while international callers can reach (825) 312-2066 using conference ID 6545339. A replay will be available shortly after the session. Veritiv is a leading distributor providing services across various industries from its distribution centers in the U.S., Canada, and Mexico.
Veritiv (NYSE: VRTV) announces the appointment of Salvatore A. Abbate as the new Chief Executive Officer, effective September 30, 2020. He replaces Mary A. Laschinger, who retires as Chairman and CEO. Stephen E. Macadam has been appointed Chairman of the Board. Abbate, with previous roles as COO and CCO at Veritiv, aims to lead the company toward becoming a premier packaging solutions provider. Macadam brings extensive industry experience, having served as CEO at EnPro Industries. This leadership transition marks a strategic move towards future growth.
Veritiv Corporation (VRTV) reported its Q2 2020 financial results, revealing a net sales decline of 28.3% year-over-year to $1.4 billion. The company recorded a net loss of $(18.5) million, worsening from $(11.3) million in the previous year. Restructuring charges increased significantly to $32.5 million from $6.9 million. Adjusted EBITDA decreased by 8.1% to $39.8 million, but as a percentage of sales, it rose by 60 basis points to 2.8%. Free cash flow was strong at $135.9 million. Due to COVID-19 uncertainties, no updated financial guidance was provided.
Veritiv Corporation (NYSE: VRTV) has announced a live conference call and webcast scheduled for August 5, 2020, at 10 a.m. EDT to discuss its second quarter 2020 financial results. Participants can join via U.S. and Canadian numbers or an international dial-in. A replay will be available shortly after the event. Veritiv, headquartered in Atlanta, is a Fortune 500 company engaged in distribution services across packaging, facility solutions, print products, and logistics.
Veritiv (NYSE: VRTV) has launched Vine, a new service that combines packaging design with distribution expertise. This innovative offering aims to meet the growing demand for effective, sustainable, and brand-enhancing packaging solutions.
Vine caters to startups and established companies, providing comprehensive packaging strategies from design to execution. The service has received Amazon's APASS certification and focuses on delivering tailored packaging solutions that enhance customer engagement. With Veritiv's extensive resources, Vine positions itself as a leader in the packaging industry.
Veritiv (NYSE: VRTV) has launched work safe partitions made from corrugated material, designed to assist businesses and educational institutions in promoting social distancing during the COVID-19 pandemic. These cost-effective and easy-to-set-up partitions can be customized and ordered in various quantities, catering to the needs of both small and large entities. Veritiv has demonstrated its commitment to mitigating pandemic impacts by delivering PPE and essential supplies to healthcare facilities, distributing millions of gloves, and providing sanitizer to protect workers.