Verso Reports Fourth Quarter and Full Year 2020 Financial Results
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Verso Corporation (NYSE: VRS) reported financial results for the fourth quarter and full year of 2020.
Fourth Quarter 2020 Highlights:
- Net sales of $314 million, up 3 percent versus the third quarter of 2020
- Net loss of $90 million, compared to net loss of $31 million in the third quarter of 2020
- Adjusted EBITDA of $9 million, compared to Adjusted EBITDA of $12 million in the third quarter of 2020
"Despite 2020 being a challenging year, we continued to strengthen our operational efficiency and flexibility, manage our costs and working capital to generate free cash flow, and align our product offering to our customers' needs as the commercial print market slightly improved," said Verso President and Chief Executive Officer Randy Nebel. "We have positive momentum leading into 2021, and are strategically positioned as industry and market dynamics continue to recover."
