VERITIV CORPORATION Reports Second Quarter FY2023 Earnings Results
August 21, 2023
🌥️Earnings Overview
Veritiv Corporation ($NYSE:VRTV) reported their second quarter earnings results for FY2023, ending June 30 2023. Revenue for the quarter totaled USD 1457.3 million, a 20.0% decrease from the same period in the previous year. Net income also decreased 22.4% year over year, amounting to USD 70.7 million.
Market Price
The company opened stock at $168.6, and ended the day with a closing price of $169.0. This is a positive sign that VERITIV CORPORATION is making progress in their operations and increasing shareholder value.
Additionally, VERITIV CORPORATION’s balance sheet reveals a healthy financial situation. This is a good sign that VERITIV CORPORATION is managing their finances well and has the resources to continue to grow and expand in the future. The company’s increased revenues, operating income, net income, and total assets are all positive signs that VERITIV CORPORATION is on the right track to become more profitable and successful moving forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Veritiv Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 6.43k | 307.7 | 4.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Veritiv Corporation. More…
| Operations | Investing | Financing |
| 355.4 | 31.1 | -375.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Veritiv Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.02k | 1.14k | 65.2 |
Key Ratios Snapshot
Some of the financial key ratios for Veritiv Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -2.2% | 67.0% | 6.7% |
| FCF Margin | ROE | ROA |
| 5.3% | 31.6% | 13.3% |
Analysis
At GoodWhale, we recently performed an analysis of VERITIV CORPORATION‘s wellbeing. Based on our Star Chart classification, we have classified VERITIV CORPORATION as a ‘cow’, which implies that the company has a track record of paying out consistent and sustainable dividends. Therefore, this type of company would most likely appeal to investors that prefer to receive regular income from their investments. When it comes to financial metrics, VERITIV CORPORATION is strong in asset, medium in dividend, profitability and weak in growth. However, this company also has a high health score of 10/10 with regard to its cashflows and debt, indicating that it is capable of sustaining its future operations even in times of crisis. More…
Peers
Veritiv Corp is one of the leading companies in the United States in terms of paper and packaging solutions. The company has been in operation for over 150 years and has a workforce of over 8,000 people. Veritiv Corp’s main competitors are Alta Co, Transcontinental Inc, and Balmer Lawrie & Co Ltd.
– Alta Co ($HNX:ALT)
Transcontinental Inc is a publicly traded company with a market cap of 1.31B as of 2022. The company has a return on equity of 7.22%. Transcontinental Inc is a diversified holding company with interests in a variety of businesses, including printing, flexible packaging, publishing, and media. The company operates in Canada and the United States. Transcontinental Inc was founded in 1953 and is headquartered in Montreal, Canada.
– Transcontinental Inc ($TSX:TCL.A)
Balmer Lawrie & Co Ltd is a publicly traded company with a market capitalization of 19.51 billion as of 2022. The company has a return on equity of 6.77%. Balmer Lawrie & Co Ltd is engaged in the business of manufacturing and marketing industrial packaging products and services. The company has a strong presence in India with a large market share in the industrial packaging segment. The company’s products are used in a variety of industries such as automotive, oil and gas, chemicals, pharmaceuticals, food and beverages, etc.
Summary
Veritiv Corporation experienced a decline in revenue and net income in the second quarter of FY2023 compared to the same period last year. Revenue decreased by 20.0%, coming in at $1457.3 million, and net income decreased by 22.4%, totaling $70.7 million. For investors, this quarter was a difficult one, as the firm’s financial results fell significantly compared to previous quarters. It is important to monitor the financial health of Veritiv Corporation going forward in order to assess whether or not it is a viable option for investing.
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