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Veritiv widely misses earnings views

May 3, 2017

Veritiv (NYSE: VRTV) reported Q1 EPS of ($0.14), $0.35 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $1.99 billion versus the consensus estimate of $1.97 billion.

For the three months ended March 31, 2017, compared to the three months ended March 31, 2016:

  • Net sales were $2.0 billion, a decrease of 1.2% from the prior year quarter. Net sales declined 1.3% from the prior year quarter, excluding the positive effect of foreign currency (0.1%) in the first quarter of 2017.
  • Net loss was $(2.2) million, compared to net income of $3.3 million in the prior year quarter. Integration and restructuring charges were $10.5 million in the first quarter of 2017 and $7.9 million in the prior year quarter.
  • Basic and diluted earnings (loss) per share was $(0.14), compared to $0.21 in the prior year quarter.
  • Adjusted EBITDA was $29.8 million, a decrease of 14.6% from the prior year quarter.
  • Adjusted EBITDA as a percentage of net sales was 1.5%, a decrease of 20 basis points from the prior year quarter.

http://bit.ly/2qAnaQ7

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