Home News Financial News Verso Corporation Reports Second Quarter 2018 Financial Results

Verso Corporation Reports Second Quarter 2018 Financial Results

MIAMISBURG, Ohio, Aug. 8, 2018 -- Verso Corporation (NYSE: VRS) today reported financial results for the second quarter of 2018.

Second Quarter 2018 Highlights:

  • Net sales up $59 million versus second quarter 2017, a 10% increase
  • Net income of $1 million, up $50 million versus second quarter 2017
  • Adjusted EBITDA up $55 million versus second quarter 2017
  • Last 12 months trailing Adjusted EBITDA of $204 million
  • Net debt down $153 million from one year prior

Overview

"Verso had a strong second quarter with solid year-over-year improvement across the enterprise as our many initiatives to strengthen the business continued to deliver quantifiable results," said Verso Chief Executive Officer B. Christopher DiSantis. "With what we believe is an industry-leading SG&A structure, our strong cash flow, fast-growing specialty papers business and low-cost conversion strategies, including the on-schedule restart of the No. 3 paper machine at the Androscoggin Mill, position Verso to capitalize on improving market dynamics and to create long-term value for our stockholders."

View complete report

Source: Verso

 
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