News
Veritiv Reports 4th-Quarter Sales Increase
February 28, 2023Veritiv Corp. has reported fiscal fourth-quarter net sales of US$1.7 billion, an organic growth of 1.8% year over year.
Veritiv reported a quarterly net income of $71.6 million, up 25.8% from $56.9 million in the prior year. Veritiv’s basic and diluted earnings per share were $5.31 and $5.20 respectively, compared to $3.90 and $3.67 respectively in the same period one year ago.
For the full year 2022, Veritiv reported a net Income $337.9 million, an increase of 133.7% from prior year. Net income for 2022 was $337.9 million, compared to $144.6 million in the prior year.
“Organic sales growth of 1.8% continued to be positive in the fourth quarter, albeit a deceleration from the third quarter, driven by customer inventory destocking and softening demand. As we turn to 2023, we will continue to both invest in value-added and sustainable solutions that solve complexities for our customers, as well as execute on our next wave of commercial and operational efficiency initiatives,” said Sal Abbate, Veritiv CEO.
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.
