Veritiv (VRTV) Reports Q3 Loss of $0.91, Beats on Revenues

Veritiv (NYSE: VRTV) reported Q3 EPS of ($0.91), versus $1.01 reported last year. Revenue for the quarter came in at $2.12 billion versus the consensus estimate of $2.08 billion.

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

• Net sales were $2.1 billion, a decrease of 0.5% from the prior year. Net sales increased 2.3% from the prior year, excluding the positive effect of foreign currency (0.4%) and the negative effect of two less shipping days (3.2%) in the third quarter of 2017.
• Net loss was $(14.3) million, compared to net income of $5.6 million in the prior year. Acquisition, integration and restructuring charges were $16.9 million in the third quarter of 2017 and $13.1 million in the prior year.
• Basic and diluted loss per share was $(0.91), compared to $0.35 and $0.34 for basic and diluted earnings per share, respectively, in the prior year.
• Adjusted EBITDA was $44.1 million, a decrease of 22.8% from the prior year.
• Adjusted EBITDA as a percentage of net sales was 2.1%, a decrease of 60 basis points from the prior year.

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

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