Veritiv Corporation (NYSE:VRTV) Q1 2022 Earnings Conference Call May 4, 2022 5:00 PM ET

Company Participants

Scott Palfreeman - VP of Finance and IR

Sal Abbate - CEO

Stephen Smith - CFO

Conference Call Participants

John Babcock - Bank of America

Operator

Good morning, and welcome to Veritiv Corporation's First Quarter 2022 Financial Results Conference Call. As a reminder, today's call is being recorded. [Operator Instructions]

At this time, I would like to turn the call over to Scott Palfreeman, Vice President of Finance and Investor Relations. Mr. Palfreeman, you may begin.

Scott Palfreeman

Thank you, Vic, and good morning, everyone. I'm joined on today's call by our CEO, Sal Abbate; and our CFO, Steve Smith. After my remarks, Sal will share an update on first quarter business performance followed by Steve, who will provide more details on our financials. After Steve's comments, Sal will conclude by providing a brief strategic update and revised outlook. We will then open the call for your questions. Before we begin, please note that some of the statements made in today's presentation regarding the intentions, beliefs, expectations and/or predictions of the future are forward-looking. Actual results could differ in a material manner.

Additional information that could cause results to differ from those in the forward-looking statements is contained in the company's SEC filings. This includes the risks and other factors described in our 2021 Form 10-K and the company's other publicly available reports and exhibits filed with the SEC. Today's call and presentation slides will contain non-GAAP financial measures. The reconciliation of these non-GAAP measures to comparable U.S. GAAP measures are included at the end of the presentation slides and can also be found in the Investor Relations section of our website.

At this time, I will turn the call over to Sal.

Sal Abbate

Thanks, Scott, and good morning, everyone.

This morning, we reported record results across almost all of our key financial metrics for any quarter in Veritiv history despite the first quarter typically being our weakest quarter of the year due to the seasonality of our business.

Our commercial effectiveness continued to drive sales and margin improvement and strong revenue performance in all our business segments contributed to these results in the first quarter. The combination of our industry-leading supply chain network and strategic partnerships with world-class suppliers allowed us to navigate the ongoing supply chain challenges in the broader market and mitigate some of the inflationary impacts to our customers.