News
Veritiv Reports Strong 4th-Quarter Earnings
March 1, 2022Veritiv Corp. has reported fiscal-fourth-quarter net sales of US$1.9 billion, an increase of 13.5% year-over-year.
Veritiv reported a quarterly net income of $56.9 million, up from $32 million in the prior year. Veritiv’s basic and diluted earnings per share were $3.90 and $3.67, respectively, compared to $2.01 and $1.90, respectively in the same period one year ago.
“Strong packaging sales growth and operational improvements across the enterprise drove our best earnings and adjusted EBITDA margin performance of any quarter on record,” said Sal Abbate, Veritiv CEO. “Efficient pass through of market price increases and above-market volume drove our third consecutive quarter of double-digit sales growth. Our global sourcing capabilities and internally managed supply chain were key differentiators in a market that continued to be impacted by constrained supply and logistics challenges.”
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.
