The 2020 Mid-Year Economic Update_long

Veritiv Sales Down 1.2% in 1Q

Company reported a loss of $2.2 million for the quarter.

Veritiv Corp. (NYSE: VRTV), Atlanta, GA, reported sales for the first quarter of $2 billion, a 1.2 percent decrease from the prior year. The company reported a loss of $2.2 million, compared to a gain of $3.3 million the same quarter a year ago.

"Our first quarter results were mixed," said Mary Laschinger, chairman and CEO of Veritiv. "Our revenue trajectory continues to improve, led by a strong quarter from our Packaging segment. Consolidated Adjusted EBITDA was lower than the prior year quarter, due in part to investments being made to grow the business.  Looking forward, we expect positive performance from Packaging and Facility Solutions to help offset the industry challenges we are experiencing in our Print and Publishing businesses, keeping us on track for our 2017 commitments."

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