Veritiv Corporation (NYSE: VRTV) stock continued the rally in after-hours trades on Wednesday rising 6.39% to $37.80. The increase came following a nearly 41% rise in the regular session on the day bringing the price to $35.53 at the ring of the bell. The rallies came on the heels of stronger financial results released by the company before the start of normal trading.
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What does the business’ financial report say?
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It is a full-service provider of health care products and solutions, along with its JanSan and hygiene products. Veritiv offers products for publishing and print, as well as logistical and supply chain strategies. Serving clients in a wide variety of markets both in North America and internationally, Veritiv has fulfillment centers in the U.S., Canada, and Mexico, and team members around the globe helping influence the performance of its consumers. The Veritiv Corporation is a Fortune 500 company based in Atlanta.
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Veritiv announced its fourth quarter and full-year 2020 ended December 31, 2020, financial results on Wednesday. Highlights of the impressive results posted by the company are as follows:
- Net sales in the fourth quarter of 2020 came to a decline of 10.5% to $1.6 billion of net sales in the prior year.
- Net income in the reported quarter was $32.0 million, an increase of 841% compared to net income of $3.4 million in the year-ago quarter.
- Earnings per share for the quarter came at $1.90 against the prior year’s fourth-quarter per-share earnings of $0.21, which also beat analysts’ estimate of $0.79 per share.
- Full-year 2020 net sales declined by -17.2% to $6.3 billion from prior-year net sales of $7.66 billion.
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- Annual net income for full-year 2020 came at $34.2 million or $2.08 per share against a net loss of -$29.5 million or -$1.84 per share a year ago.