Veritiv Chalks up Record 1Q for Net Income - Modern Distribution Management

Veritiv Chalks up Record 1Q for Net Income

Veritiv’s sales for the first quarter were down 8.7% from the same quarter a year ago.
Veritiv

Veritiv Corp. (NYSE: VRTV), which is based in Atlanta, reported sales for the first quarter of $1.6 billion, which was a decrease of 8.7% from the prior year. Veritiv reported its net income was $21.3 million, which it said was a record for the first quarter, compared to net loss in the prior year.

“We started 2021 with record first quarter earnings driven by continued packaging sales growth and operational efficiencies implemented across the company,” said Veritiv CEO Sal Abbate. “Our earnings momentum, fueled by the execution of our multi-year strategy to drive profitable growth, continued into the first quarter.”

Based on its strong first quarter results, Veritiv increased its guidance for the full year. Income before taxes is now projected to be in the range of $95 million to $115 million.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.