Veritiv (VRTV) Reports Q2 Loss of $0.58, Miss on Revenues

Veritiv (NYSE: VRTV) reported Q2 EPS of ($0.58). Revenue for the quarter came in at $2 billion versus the consensus estimate of $2.02 billion.

For the three months ended June 30, 2017, compared to the three months ended June 30, 2016:

• Net sales were $2.0 billion, a decrease of 1.5% from the prior year. Net sales declined 1.2% from the prior year, excluding the negative effect of foreign currency (0.3%) in the second quarter of 2017.
• Net loss was $(9.1) million, compared to net income of $7.9 million in the prior year. Integration and restructuring charges were $30.7 million in the second quarter of 2017 and $5.8 million in the prior year.
• Basic and diluted earnings (loss) per share was $(0.58), compared to $0.49 for both measures in the prior year.
• Adjusted EBITDA was $42.5 million, a decrease of 15.2% from the prior year.
• Adjusted EBITDA as a percentage of net sales was 2.1%, a decrease of 30 basis points from the prior year.

For earnings history and earnings-related data on Veritiv (VRTV) click here.

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