Veritiv Sees 3rd-Quarter Sales RiseNovember 4, 2021
Veritiv reported a quarterly net income of $40 million, up from $21.1 million in the prior year. Veritiv’s basic and diluted earnings per share were $2.69 and $2.54, respectively, compared to $1.33 and $1.30, respectively in the same period one year ago.
“Double-digit packaging sales growth contributed to our best earnings and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin performance of any quarter in company history,” said Sal Abbate, Veritiv CEO. “The third quarter of 2021 marks the tenth consecutive quarter of year-over-year improvement in our packaging segment adjusted EBITDA margin performance. The ongoing benefits of our 2020 restructuring plan, as well as commercial and supply chain productivity, drove significant financial improvement throughout the business resulting in net income nearly doubling in the third quarter compared to prior year.”
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.