Veritiv Corporation

NYSE:VRTV Stock Report

Market Cap: US$2.3b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Veritiv Management

Management criteria checks 3/4

Veritiv's CEO is Sal Abbate, appointed in Sep 2020, has a tenure of 3.25 years. total yearly compensation is $6.05M, comprised of 14.9% salary and 85.1% bonuses, including company stock and options. directly owns 0.92% of the company’s shares, worth $21.30M. The average tenure of the management team and the board of directors is 3.2 years and 3.8 years respectively.

Key information

Sal Abbate

Chief executive officer

US$6.1m

Total compensation

CEO salary percentage14.87%
CEO tenure3.3yrs
CEO ownership0.9%
Management average tenure3.2yrs
Board average tenure3.8yrs

Recent management updates

Recent updates

Seeking Alpha • Nov 01

Veritiv Corporation: The End Of A Volatile Era

Summary Veritiv Corp is a packaging company with revenue from packaging, facility solutions, and print solutions. The biggest news is the takeover by private equity firm CD&R. Veritiv Corp achieved record highs in gross profit, operating profit, net income, ROE, and ROIC in 2022, but did the acquirer still overpay? Read the full article on Seeking Alpha
Seeking Alpha • Aug 09

Veritiv: Operating Margin, A Double-Edged Sword

Summary Veritiv has seen a significant boost in its operating margin, which has skyrocketed from a historical level of around one percent to a staggering six percent. The sustainability of Veritiv's margin is uncertain, but the improvement could be at least partly sustainable due to strategic divestments and operational improvements. I believe the stock's current price quite accurately prices in potential risks and rewards going forward, justifying my hold rating for the time being. Read the full article on Seeking Alpha
Analysis Article • Aug 01

Shareholders Would Enjoy A Repeat Of Veritiv's (NYSE:VRTV) Recent Growth In Returns

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'll...
Analysis Article • Jun 27

Should You Be Adding Veritiv (NYSE:VRTV) To Your Watchlist Today?

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Analysis Article • May 27

These 4 Measures Indicate That Veritiv (NYSE:VRTV) Is Using Debt Safely

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Analysis Article • Apr 11

Why We Like The Returns At Veritiv (NYSE:VRTV)

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Analysis Article • Mar 24

Here's Why We Think Veritiv (NYSE:VRTV) Is Well Worth Watching

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
Analysis Article • Feb 21

We Think Veritiv (NYSE:VRTV) Can Manage Its Debt With Ease

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Jan 10

Under The Bonnet, Veritiv's (NYSE:VRTV) Returns Look Impressive

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Ideally, a business...
Seeking Alpha • Dec 21

Veritiv: Volatile Earnings But Strong Free Cash Flow, Relative Price Strength On The Chart

Summary The Industrials sector has been a relative winner this year as money flees high-growth tech names. One packaging company has beaten both its sector ETF and the S&P 500. With a high free cash flow yield and low P/E, I see shares as attractively valued despite macro risks in 2023. The Industrials sector has outperformed the broad market this year as the value trade continues to hold its own after beginning a bit more than two years ago. Goldman Sachs recently published a note cautious on the cyclical space, though. The bank remarked that Wall Street is much more optimistic than they are regarding 2023 EPS. If consensus is correct, however, Industrials will bolster what could be a tepid year of SPX earnings after a solid 16% earnings advance this year. Industrials Earnings At Risk In 2023? Goldman Sachs Investment Research According to Bank of America Global Research, Veritiv Corporation (VRTV) is a business-to-business distributor of print, publishing, packaging, and facility solutions. It has approximately 125 operating distribution centers spread across the US, Canada, and Mexico and was formed in 2014 through the merger of International Paper's xpedx business and Unisource Worldwide. The Georgia-based $1.8 billion market cap Trading Companies & Distributors industry company within the Industrials sector trades at a low 6.1 trailing 12-month GAAP price-to-earnings ratio and pays a small 1.9% dividend yield, according to The Wall Street Journal. The company’s CFO recently announced retirement, but shares did not move much on that news. Shares did rise, however, following Veritiv’s Q3 earnings report that featured a flat year-on-year revenue figure and a 2022 guidance increase. The company appears well-positioned to produce impressive free cash flow despite earnings that are normalizing lower. With total debt that is trending lower and possible shareholder accretive activities, there are some positive aspects investors should take note of. Still, downside risks include a macro slowdown and volatility in commodity prices. On valuation, analysts at BofA see earnings drifting lower to just under $14 by FY 2024. The Bloomberg consensus forecast is slightly less optimistic than BofA’s outlook for this year and next, however. Dividends are seen as rising in the quarters ahead as the stock’s free cash flow yield is strong in the double digits. With low operating and GAAP P/Es and a below-market EV/EBTIDA ratio, I like the valuation here despite earnings volatility. Veritiv: Earnings, Valuation, Free Cash Flow Forecasts BofA Global Research Looking ahead, corporate event data provided by Wall Street Horizon show an unconfirmed Q4 2022 earnings date of Wednesday, March 1 BMO. The calendar is light aside from that earnings event. Corporate Event Calendar Wall Street Horizon The Technical Take VRTV sports impressive year-to-date relative strength. Shares are up more than 8% compared to the S&P 500’s 18.6% total return loss through December 20. Relative to the Industrials sector, VRTV also shines, outpacing XLI by more than 14 percentage points on the year. Relative strength sometimes masks absolute weakness, though. Is that the case here? Not so much.
Analysis Article • Dec 15

Here's Why We Think Veritiv (NYSE:VRTV) Is Well Worth Watching

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
Analysis Article • Dec 01

Estimating The Fair Value Of Veritiv Corporation (NYSE:VRTV)

Does the December share price for Veritiv Corporation ( NYSE:VRTV ) reflect what it's really worth? Today, we will...
Seeking Alpha • Nov 07

Veritiv Corporation Q3 Earnings Preview

Veritiv Corporation (NYSE:VRTV) is scheduled to announce Q3 earnings results on Tuesday, November 8th, before market open. The consensus EPS Estimate is $5.11 and the consensus Revenue Estimate is $1.78B (-1.1% Y/Y). Over the last 3 months, EPS estimates have seen 0 upward revision and 0 downward. Revenue estimates have seen 1 upward revision and 0 downward.
Analysis Article • Oct 13

Veritiv (NYSE:VRTV) Seems To Use Debt Rather Sparingly

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
Analysis Article • Aug 26

Veritiv (NYSE:VRTV) Is Very Good At Capital Allocation

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'd want to...
Analysis Article • Aug 10

Does Veritiv (NYSE:VRTV) Deserve A Spot On Your Watchlist?

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Seeking Alpha • Aug 08

Veritiv Corporation Q2 Earnings Preview

Veritiv Corporation (NYSE:VRTV) is scheduled to announce Q2 earnings results on Tuesday, August 9th, before market open. The consensus EPS Estimate is $4.50 (+177.8% Y/Y) and the consensus Revenue Estimate is $1.79B (+7.8% Y/Y). Over the last 3 months, EPS estimates have seen 0 upward revisions and 0 downward. Revenue estimates have seen 1 upward revisions and 0 downward.
Analysis Article • Jul 07

These 4 Measures Indicate That Veritiv (NYSE:VRTV) Is Using Debt Reasonably Well

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • May 23

Veritiv (NYSE:VRTV) Is Looking To Continue Growing Its Returns On Capital

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'd want to...
Analysis Article • May 07

Is Now The Time To Put Veritiv (NYSE:VRTV) On Your Watchlist?

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...
Seeking Alpha • Apr 14

Why Veritiv Is Still A Buy

Veritiv's revenue will grow again this year. The company has strong pricing power. Growth and value scores discussed.
Analysis Article • Apr 06

Is Veritiv (NYSE:VRTV) Using Too Much Debt?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
Analysis Article • Mar 03

Improved Earnings Required Before Veritiv Corporation (NYSE:VRTV) Stock's 32% Jump Looks Justified

Those holding Veritiv Corporation ( NYSE:VRTV ) shares would be relieved that the share price has rebounded 32% in the...
Analysis Article • Feb 14

Veritiv (NYSE:VRTV) Shareholders Will Want The ROCE Trajectory To Continue

What trends should we look for it we want to identify stocks that can multiply in value over the long term? Typically...
Analysis Article • Jan 26

Is Now The Time To Put Veritiv (NYSE:VRTV) On Your Watchlist?

It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...

CEO Compensation Analysis

How has Sal Abbate's remuneration changed compared to Veritiv's earnings?
DateTotal CompensationSalaryCompany Earnings
Sep 30 2023n/an/a

US$272m

Jun 30 2023n/an/a

US$308m

Mar 31 2023n/an/a

US$328m

Dec 31 2022US$6mUS$900k

US$338m

Sep 30 2022n/an/a

US$323m

Jun 30 2022n/an/a

US$267m

Mar 31 2022n/an/a

US$202m

Dec 31 2021US$5mUS$800k

US$145m

Sep 30 2021n/an/a

US$120m

Jun 30 2021n/an/a

US$101m

Mar 31 2021n/an/a

US$56m

Dec 31 2020US$3mUS$606k

US$34m

Sep 30 2020n/an/a

US$6m

Jun 30 2020n/an/a

-US$10m

Mar 31 2020n/an/a

-US$3m

Dec 31 2019US$2mUS$560k

-US$29m

Sep 30 2019n/an/a

-US$24m

Jun 30 2019n/an/a

-US$27m

Mar 31 2019n/an/a

-US$27m

Dec 31 2018US$2mUS$327k

-US$16m

Compensation vs Market: Sal's total compensation ($USD6.05M) is about average for companies of similar size in the US market ($USD5.11M).

Compensation vs Earnings: Sal's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Sal Abbate (54 yo)

3.3yrs
Tenure
US$6,054,490
Compensation

Mr. Salvatore A. Abbate, also known as Sal, is Chief Executive Officer at Veritiv Corp. since September 30, 2020 and serves as its Director since September 2020. He serves as Director at ArcBest Corporatio...

Leadership Team

NamePositionTenureCompensationOwnership
Salvatore Abbate
CEO & Director3.3yrsUS$6.05m0.92%
$ 21.3m
Karen Renner
Senior VP & Chief Information Officer3.1yrsUS$1.90m0.031%
$ 708.3k
Susan Salyer
Senior VP1.5yrsUS$1.89m0.065%
$ 1.5m
Eric Guerin
Senior VP & CFOless than a yearno data0%
$ 0
Michael Walkenhorst
Senior Vice President of Packaging & Global Operations2.4yrsno data0.13%
$ 3.0m
Scott Palfreeman
Vice President of Finance & Investor Relationsno datano datano data
Peter Troup
Vice President of Corporate Development7.8yrsno datano data
Daniel Calderwood
Senior Vice President of Facility Solutions3.2yrsno data0.13%
$ 3.0m
Stephanie Mayerle
Senior Vice President of Sales3.2yrsno data0.077%
$ 1.8m
Dean Adelman
Senior VP & Chief Human Resources Officer4.8yrsno data0.20%
$ 4.5m
Guilherme De Mello
VP of Financial Planning & Analysis and Treasurer3.8yrsUS$2.32mno data
Lance Gebert
Corporate Controllerno datano data0.026%
$ 599.6k
3.2yrs
Average Tenure
51yo
Average Age

Experienced Management: VRTV's management team is considered experienced (3.2 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Salvatore Abbate
CEO & Director3.3yrsUS$6.05m0.92%
$ 21.3m
Charles Ward
Independent Director9.5yrsUS$235.00k0.11%
$ 2.5m
Michael Muldowney
Independent Director9.5yrsUS$250.00k0%
$ 0
Tracy Leinbach
Independent Director9.5yrsUS$230.00k0.078%
$ 1.8m
Stephen Macadam
Independent Chairman3.8yrsUS$355.00k0.049%
$ 1.1m
Gregory Morrison
Independent Director2.5yrsUS$225.00k0.030%
$ 689.1k
Autumn Bayles
Independent Director1.6yrsUS$196.67k0.016%
$ 366.2k
David Flitman
Independent Director6.4yrsUS$235.00k0%
$ 0
Shantella Cooper
Independent Director3.8yrsUS$225.00k0%
$ 0
3.8yrs
Average Tenure
59yo
Average Age

Experienced Board: VRTV's board of directors are considered experienced (3.8 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2023/12/01 10:30
End of Day Share Price 2023/11/29 00:00
Earnings2023/09/30
Annual Earnings2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Veritiv Corporation is covered by 5 analysts. of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Scott GaffnerBarclays
George StaphosBofA Global Research
James ClementMacquarie Research