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Veritiv Boosts 2nd-Quarter Sales 9.8%

Veritiv Corp. has reported fiscal-second-quarter net sales of US$1.8 billion, an increase of 9.8% year-over-year.

Veritiv reported a quarterly net income of $91.1 million, up from $26.4 million in the prior year. Veritiv’s basic and diluted earnings per share were $6.24 and $6.12 respectively, compared to $1.69 and $1.62 respectively in the same period one year ago.

“Double-digit organic sales growth and continued operational excellence contributed to the best performance for any quarter in company history for net income, EPS, adjusted EBITDA dollars, and adjusted EBITDA margin,” said Sal Abbate, Veritiv CEO. “The combination of continued sales growth and our cost and price management discipline resulted in record net income of $91 million, which was more than three times higher than the second quarter of 2021, while diluted earnings per share increased to a record $6.12.”

About Veritiv
Sandy Springs, Georgia-based Veritiv Corp. markets and distributes facility maintenance supplies, packaging systems, and printing and business-imaging papers throughout North America. For more information, visit www.veritivcorp.com.