Verso Corporation reported financial results for the 3Q 2017, including net sales of $621 million, net income of $4 million, and adjusted EBITDA of $47 million. Net sales for the 3Q 2017 decreased by $54 million, compared to the 3Q 2016. Gross margin, excluding depreciation, amortization, and depletion expenses, increased from 4.9% of net sales in the 3Q 2016 to 11.1% in the 3Q 2017.
Net sales for the first nine months of 2017 decreased by $173 million, compared to the first nine months of 2016. Gross margin, excluding depreciation, amortization, and depletion expenses, decreased from 9.4% of net sales in the first nine months of 2016 to 7.6% in the first nine months of 2017.
Verso Corporation is the leading North American producer of printing and specialty papers and pulp.
