Veritiv (VRTV) Reports Q1 Loss of $1.00, Beats on Revenues

Veritiv (NYSE: VRTV) reported Q1 EPS of ($1.00), versus $0.38 reported last year. Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $2.03 billion.

• Net sales were $2.1 billion, an increase of 5.3% from the prior year. Net sales increased 4.9% from the prior year, excluding the positive effect of foreign currency (0.4%) in the first quarter of 2018.
• Net loss was $(15.8) million, compared to net loss of $(2.2) million in the prior year. Net integration, acquisition and restructuring charges were $20.2 million in the first quarter of 2018 and $10.5 million in the prior year.
• Basic and diluted loss per share were $(1.00) compared to $(0.14) in the prior year.
• Adjusted EBITDA was $29.7 million, a decrease of 0.3% from the prior year.
• Adjusted EBITDA as a percentage of net sales was 1.4%, a decrease of 10 basis points from the prior year.

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

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