Veritiv (VRTV) Tops Q2 EPS by 81c; Raises Outlook

Veritiv (NYSE: VRTV) reported Q2 EPS of $1.62, $0.81 better than the analyst estimate of $0.81. Revenue for the quarter came in at $1.7 billion versus the consensus estimate of $1.52 billion.

"The combination of strong Packaging sales growth and operational improvements helped drive record net income and earnings per share for the second quarter and our best Adjusted EBITDA performance for any quarter in company history," said Sal Abbate, Chief Executive Officer. "We are executing very well against our multi-year strategy and believe these initiatives have resulted in an inflection point in our overall financial results."

GUIDANCE:

Veritiv sees FY2021 EPS of $6.25-$7.50, versus the consensus of $4.50. The Company is increasing its full year estimate for Adjusted EBITDA to a range of $270 to $290 million. Free cash flow for 2021 is now expected to be at least $110 million. Capital expenditures are still estimated to be approximately $35 million.

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

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