Veritiv (NYSE:VRTV) reported Q2 EPS of $6.12, $1.62 better than the analyst estimate of $4.50. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.79 billion.
GUIDANCE:
Veritiv sees FY2022 EPS of $19.50-$21.50.
- Given the strong financial performance so far this year and favorable outlook for the remainder of the year, despite the divestiture of our Canada business, the Company now expects full year 2022 net income to be in the range of $285 to $315 million. Diluted earnings per share is estimated to be in the range of $19.50 to $21.50, based on approximately 14.7 million fully diluted shares outstanding. Adjusted EBITDA is now expected to be in the range of $475 to $505 million. Net cash provided by operating activities and free cash flow are still expected to be approximately $280 million and $250 million, respectively. Capital expenditures are still estimated to be approximately $30 million.