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Verso Corporation reports Q2 2018 financial results

Photo: Verso
Photo: Verso
Published by
Simon Matthis - 09 Aug 2018

Verso Corporation (NYSE: VRS) today reported financial results for the second quarter of 2018.

Net sales were up $59 million versus second quarter 2017, a 10% increase, and net income amounted to $1 million, up $50 million versus second quarter 2017.

Adjusted EBITDA was up $55 million versus second quarter 2017.

"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."