News within the industry of pulp and paper, Aug, 24 2017
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 Verso reports Q2 2017 financial results

Photo: Verso Paper
Photo: Verso Paper
Published by
Simon Matthis - 09 Aug 2017

Verso Corporation (NYSE: VRS) today reported financial results for the second quarter of 2017, including net sales of $585 million, a net loss of $49 million, and adjusted EBITDA of $(4) million.

"Despite a challenging second quarter in which profitability was hampered by lower volume and pricing, rising input costs and inventory reduction initiatives, Verso is building momentum toward significantly improved results in the second half of the year as we anticipate realization of price increases, continue to aggressively cut costs and profitably grow our specialty papers business," said Verso Chief Executive Officer B. Christopher DiSantis. "In addition, we've made substantial progress in evaluating Verso's long-term strategic options, which potentially include paper machine conversions to enable expansion or entry into growing markets, enhancements to current assets that support a more profitable product mix, and corporate development opportunities."