Market: Packaging Paper & Board
Posted May 16, 2018
Veritiv Corporation, a North American leader in business-to-business distribution solutions, announced financial results for the 1Q ended March 31, 2018. 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 1Q 2018.
Net loss was $(15.8) million, compared to net loss of $(2.2) million 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.
"We are off to a good start in 2018," said Mary Laschinger, Chairman and CEO of Veritiv Corporation. "Looking ahead, we expect growth in Packaging and Facility Solutions to offset the secular challenges being experienced in our Print and Publishing segments, keeping us on target for our 2018 commitments."
Veritiv Corporation is a leading North American business-to-business distributor of packaging, facility solutions, print and publishing products and services; and also a provider of logistics and supply chain management solutions.