- Verso Corp (NYSE:VRS) reported fourth-quarter FY21 sales growth of 4% year-on-year, to $328 million, beating the consensus of $298.4 million.
- Total company sales volume decreased from 392 thousand tons during Q4 FY20 to 341 thousand tons in Q4 FY21, primarily attributable to sold Duluth and idled Wisconsin Rapids mills.
- Verso incurred inflationary costs of $20 million driven by purchased pulp, latex, energy, and freight.
- The operating margin was 10.4%, and operating income for the quarter was $34 million versus $(118) million a year ago.
- Adjusted EBITDA was $74 million versus $9 million last year.
- Verso recorded a net income of $13 million in the quarter versus a loss of $(90) million last year.
- On December 19, 2021, Verso announced that it entered a merger agreement to be acquired by BillerudKorsnäs AB for $27.00 per share in cash.
- Price Action: VRS shares traded lower by 0.06% at $26.59 on the last check Monday.
