Veritiv Corporation (NYSE: VRTV), Atlanta, GA, distributor of packaging, jan-san and hygiene products and services, reported sales for its fiscal 2022 second quarter ended June 30, 2022, were $1.8 billion, up 9.8% from the prior-year period.
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Net profit for the second quarter was $91.1 million, up from $26.4 million the prior-year period.
For the first six months of the year, sales were $3.7 billion, up 14.3%, with organic sales up 19.2%. And profit was $169.6 million.
“Double-digit organic sales growth and continued operational excellence contributed to the best performance for any quarter in company history for net income, EPS, adjusted EBITDA dollars and adjusted EBITDA margin,” said Sal Abbate, CEO of Veritiv. “The combination of continues sales growth and our cost and price management discipline resulted in record net income of $91.1 million, which was more than three times higher than the second quarter of 2021, while diluted earnings per share increased to a record $6.12.”
