Verso Corporation’s net sales for the 2Q 2018 increased $59 million, or 10%, compared to the 2Q 2017. The sales increase was attributable to improved average pricing, primarily resulting from inflationary pressures, improvement in product mix and better alignment of supply and demand. The improved average pricing and product mix were driven by price increases across product lines while volume was up significantly in specialty papers, as the company said in the press release received by Lesprom Network.
2Q 2018 net income of $1 million, was up $50 million versus 2Q 2017 Adjusted EBITDA up $55 million compared to 2Q 2017.
"Verso had a strong 2Q with solid year-over-year improvement across the enterprise as our many initiatives to strengthen the business continued to deliver quantifiable results," said Verso CEO 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."
Verso Corporation is the leading North American producer of printing and specialty papers and pulp.
