Veritiv (VRTV) Misses Q4 EPS, Sales In-Line
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Veritiv (NYSE: VRTV) reported Q4 EPS of $0.26, $0.64 worse than the analyst estimate of $0.90. Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $2.12 billion.
- Net sales were $2.1 billion, a decrease of 3.7% from the prior year. Net sales declined 1.9% from the prior year, excluding the negative effect of foreign currency (0.2%) and one less shipping day (1.6%) in the fourth quarter of 2016.
- Net income was $4.2 million, compared to $10.1 million in the prior year. Integration and restructuring charges were $11.5 million in the 2016 fourth quarter and $9.0 million in the prior year quarter.
- Basic and diluted earnings per share were $0.26 compared to $0.63 in the prior year quarter.
- Adjusted EBITDA was $50.1 million, a decrease of 4.2% from the prior year.
- Adjusted EBITDA as a percentage of net sales was 2.4%, unchanged from the prior year.
For earnings history and earnings-related data on Veritiv (VRTV) click here.
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