The 2020 Mid-Year Economic Update_long

Veritiv Sales Up 62.7% in 2Q

On a pro forma basis, second quarter sales decreased 6.4 percent.

Veritiv Corp. (NYSE: VRTV), Atlanta, GA, reported sales for the second quarter of $2.2 billion, a 62.7 percent increase from the prior year, a result of the merger of International Paper Company's xpedx division and Unisource Worldwide. Profit increased 48.3 percent to $4.3 million.

On a pro forma basis, second quarter sales decreased 6.4 percent year-over-year. Adjusted EBITDA was $40.7 million, an increase of 7.5 percent.

For the first six months, sales were $4.3 billion, up 63 percent year-over-year. Profit decreased to $2.1 million from $8.4 million in the prior year period.

On a pro forma basis, sales for the first six months decreased 5.4 percent year-over-year.

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