Verso Corporation produces and sells coated papers in North America. It operates through two segments, Paper and Pulp. The company offers coated freesheet and coated groundwood, specialty, packaging, inkjet and digital, supercalendered, and uncoated freesheet papers; and bleached and unbleached market kraft pulp to manufacture printing, writing, and tissue products. Its paper products are used primarily in media and marketing applications, including catalogs, magazines, and commercial printing applications, such as high-end advertising brochures, annual reports, and direct-mail advertising; and specialty applications comprising flexible packaging, and label and converting. The company was formerly known as Verso Paper Corp. and changed its name to Verso Corporation in January 2015. Verso Corporation was founded in 2006 and is headquartered in Miamisburg, Ohio.
IPO Year: 2016
Exchange: NYSE
Website: versoco.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/28/2021 | Top Pick → Neutral | BWS Financial | |
| 12/14/2021 | $30.00 → $35.00 | Buy | BWS Financial |
| 8/9/2021 | $18.00 → $20.00 | Buy → Neutral | B. Riley Securities |
Major Pulp and Paper Operation in Thunder Bay, Ontario Joins Atlas Holdings' Family of Leading Pulp, Paper and Converting Companies GREENWICH, Conn., Aug. 1, 2023 /PRNewswire/ - Atlas Holdings ("Atlas") announced today the closing of the previously announced acquisition of the pulp, newsprint and directory paper mill operations in Thunder Bay, Ontario ("Thunder Bay" or "Mill") from Resolute FP Canada Inc. by Atlas' affiliate, Thunder Bay Pulp and Paper Inc. Thunder Bay is a leading northern bleached softwood kraft and northern bleached hardwood kraft pulp, paper, newsprint an
MIAMISBURG, Ohio, March 29, 2022 /PRNewswire/ -- Verso Corporation (NYSE:VRS) ("Verso") today announced it has received necessary approvals from the Nuclear Regulatory Commission and the Public Service Commission of Wisconsin to complete its previously announced merger with BillerudKorsnäs AB ("BillerudKorsnäs"). Verso has now received all regulatory approvals necessary to complete the merger. The transaction is expected to close on March 31, 2022. About Verso VERSO CORPORATION is a leading producer of graphic, specialty and packaging paper and market pulp, with a long-standing reputation for quality and reliability. Verso's graphic paper products are designed primarily for commercial printi
MIAMISBURG, Ohio, March 11, 2022 /PRNewswire/ -- Verso Corporation (NYSE:VRS) ("Verso") announced that, at a special meeting of stockholders held today, its stockholders voted to approve the previously announced merger with BillerudKorsnäs AB ("BillerudKorsnäs") as well as other related proposals. The merger proposal was supported by approximately 98.5% of votes cast, representing approximately 73% of outstanding shares of Verso's common stock. The final voting results of the special meeting, as tabulated by an independent inspector of elections, will be filed as part of a Form 8-K with the U.S. Securities and Exchange Commission. Verso and BillerudKorsnäs now expect the merger to close in
MIAMISBURG, Ohio, Feb. 28, 2022 /PRNewswire/ -- Verso Corporation (NYSE:VRS) today reported financial results for the fourth quarter and full year of 2021. Fourth Quarter 2021 Highlights: Net sales of $328 million, a 4% increase over fourth quarter 2020 and a 3% decrease over third quarter 2021 Net income of $13 million compared to a net loss of $90 million in the fourth quarter of 2020 and net income of $58 million in the third quarter 2021 Adjusted EBITDA of $74 million compared to $9 million in the fourth quarter of 2020 and $67 million in the third quarter of 2021Overview"Thanks to the efforts of the Verso team, Verso delivered excellent safety results and solid financial performance in
MIAMISBURG, Ohio, Feb. 21, 2022 /PRNewswire/ -- Verso Corporation (NYSE:VRS) today announced that it will release its fourth quarter and full year 2021 financial results before the market opens on February 28, 2022. As announced on December 19, 2021, Verso has entered into a definitive merger agreement under which BillerudKorsnäs AB ("BillerudKorsnäs") has agreed to acquire all of the outstanding shares of Verso for a purchase price of $27.00 per share in cash. The proposed transaction is subject to the approval of Verso stockholders and the satisfaction of customary closing c
MIAMISBURG, Ohio, Feb. 8, 2022 /PRNewswire/ -- Verso Corporation (NYSE:VRS) ("Verso") today announced the filing of a definitive proxy statement for a special meeting of stockholders, at which Verso stockholders will consider and vote upon various items related to the proposed and previously announced transaction with BillerudKorsnäs AB ("BillerudKorsnäs"). If approved, all Verso stockholders will receive $27.00 per share in cash upon closing of the transaction, representing immediate and certain value at a significant premium. The consideration corresponds to a premium of approximately 57% compared to the unaffected closing price of Verso's shares on July 9, 2021, the day prior to the subm
MIAMISBURG, Ohio, Jan. 21, 2022 /PRNewswire/ -- Verso Corporation (NYSE:VRS) ("Verso") today announced the filing of a preliminary proxy statement for a special meeting of stockholders, at which Verso stockholders will consider and vote upon various items related to the proposed and previously announced transaction with BillerudKorsnäs AB ("BillerudKorsnäs"). If approved, all Verso stockholders will receive $27.00 per share in cash upon closing of the transaction, representing immediate and certain value at a significant premium. The preliminary proxy statement provides detailed disclosure regarding, among other things, the robust process overseen by the Special Committee, the Special Commit
MIAMISBURG, Ohio, Dec. 19, 2021 /PRNewswire/ -- Verso Corporation (NYSE:VRS) ("Verso") today announced that it has entered into a definitive merger agreement under which BillerudKorsnäs AB ("BillerudKorsnäs") will acquire all of the outstanding shares of Verso for a purchase price of $27 per share in cash, or approximately $825 million1. Verso's Board of Directors, acting upon the recommendation of a special committee of Verso's Board, has unanimously approved and resolved to recommend approval of the merger by Verso's shareholders. The transaction is expected to close in the second quarter of 2022. The consideration corresponds to a premium of approximately 35% compared to closing price of
MIAMISBURG, Ohio, Nov. 5, 2021 /PRNewswire/ -- Verso Corporation (NYSE:VRS) today reported financial results for the third quarter of 2021 and announced that its Board of Directors has declared a quarterly cash dividend for the quarter ending December 31, 2021, in the amount of $0.10 per each outstanding share of Verso's Class A common stock. The quarterly cash dividend is payable on December 29, 2021 to Verso's stockholders of record holding shares of common stock at the close of business December 17, 2021. Third Quarter 2021 Highlights: Net sales of $339 million, an 11% increase over third quarter 2020 and a 3% increase over second quarter 2021 Net income of $58 million compared to a net l
MIAMISBURG, Ohio, Oct. 28, 2021 /PRNewswire/ -- Verso Corporation (NYSE:VRS) today announced that it will host a conference call and webcast for analysts and investors on Friday, November 5, 2021 at 9 a.m. (EST) to discuss third quarter 2021 financial results. Analysts and investors may access the live conference call only by dialing 888-317-6003 (U.S. toll-free), 866-284-3684 (Canada toll-free) or 412-317-6061 (international) and referencing elite entry number 1707105 and Verso Corporation. To register, please dial in 10 minutes before the conference call begins. The news release and third quarter 2021 results will be available on Verso's website at http://investor.versoco.com by navigating
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BWS Financial downgraded Verso from Top Pick to Neutral
BWS Financial reiterated coverage of Verso with a rating of Buy and set a new price target of $35.00 from $30.00 previously
B. Riley Securities downgraded Verso from Buy to Neutral and set a new price target of $20.00 from $18.00 previously
BWS Financial reiterated coverage of Verso with a rating of Strong Buy and set a new price target of $30.00 from $25.50 previously
Major Pulp and Paper Operation in Thunder Bay, Ontario Joins Atlas Holdings' Family of Leading Pulp, Paper and Converting Companies GREENWICH, Conn., Aug. 1, 2023 /PRNewswire/ - Atlas Holdings ("Atlas") announced today the closing of the previously announced acquisition of the pulp, newsprint and directory paper mill operations in Thunder Bay, Ontario ("Thunder Bay" or "Mill") from Resolute FP Canada Inc. by Atlas' affiliate, Thunder Bay Pulp and Paper Inc. Thunder Bay is a leading northern bleached softwood kraft and northern bleached hardwood kraft pulp, paper, newsprint an
MIAMISBURG, Ohio, Jan. 28, 2021 /PRNewswire/ -- Verso Corporation (NYSE: VRS) today announced the appointment of Randy J. Nebel as President and Chief Executive Officer. Mr. Nebel has served as interim President and Chief Executive Officer since October 2020 and has been a member of Verso's Board of Directors since November 2019. "We are pleased that Randy has accepted our offer to transition from the interim role to a permanent position," said Chairman of the Board Sean Erwin. "His more than 40 years of knowledge in the paper and packaging industry, combined with his breadth of executive leadership experience, make him the right choice for this role." "Since becoming interim President an
MIAMISBURG, Ohio, Feb. 28, 2022 /PRNewswire/ -- Verso Corporation (NYSE:VRS) today reported financial results for the fourth quarter and full year of 2021. Fourth Quarter 2021 Highlights: Net sales of $328 million, a 4% increase over fourth quarter 2020 and a 3% decrease over third quarter 2021 Net income of $13 million compared to a net loss of $90 million in the fourth quarter of 2020 and net income of $58 million in the third quarter 2021 Adjusted EBITDA of $74 million compared to $9 million in the fourth quarter of 2020 and $67 million in the third quarter of 2021Overview"Thanks to the efforts of the Verso team, Verso delivered excellent safety results and solid financial performance in
MIAMISBURG, Ohio, Feb. 21, 2022 /PRNewswire/ -- Verso Corporation (NYSE:VRS) today announced that it will release its fourth quarter and full year 2021 financial results before the market opens on February 28, 2022. As announced on December 19, 2021, Verso has entered into a definitive merger agreement under which BillerudKorsnäs AB ("BillerudKorsnäs") has agreed to acquire all of the outstanding shares of Verso for a purchase price of $27.00 per share in cash. The proposed transaction is subject to the approval of Verso stockholders and the satisfaction of customary closing c
MIAMISBURG, Ohio, Nov. 5, 2021 /PRNewswire/ -- Verso Corporation (NYSE:VRS) today reported financial results for the third quarter of 2021 and announced that its Board of Directors has declared a quarterly cash dividend for the quarter ending December 31, 2021, in the amount of $0.10 per each outstanding share of Verso's Class A common stock. The quarterly cash dividend is payable on December 29, 2021 to Verso's stockholders of record holding shares of common stock at the close of business December 17, 2021. Third Quarter 2021 Highlights: Net sales of $339 million, an 11% increase over third quarter 2020 and a 3% increase over second quarter 2021 Net income of $58 million compared to a net l
MIAMISBURG, Ohio, Oct. 28, 2021 /PRNewswire/ -- Verso Corporation (NYSE:VRS) today announced that it will host a conference call and webcast for analysts and investors on Friday, November 5, 2021 at 9 a.m. (EST) to discuss third quarter 2021 financial results. Analysts and investors may access the live conference call only by dialing 888-317-6003 (U.S. toll-free), 866-284-3684 (Canada toll-free) or 412-317-6061 (international) and referencing elite entry number 1707105 and Verso Corporation. To register, please dial in 10 minutes before the conference call begins. The news release and third quarter 2021 results will be available on Verso's website at http://investor.versoco.com by navigating
MIAMISBURG, Ohio, Aug. 6, 2021 /PRNewswire/ -- Verso Corporation (NYSE:VRS) today reported financial results for the second quarter of 2021 and announced that its Board of Directors has declared a quarterly cash dividend for the quarter ending September 30, 2021, in the amount of $0.10 per each outstanding share of Verso's Class A common stock. The quarterly cash dividend is payable on September 28, 2021 to Verso's stockholders of record holding shares of common stock at the close of business September 17, 2021. Second Quarter 2021 Highlights: Net sales of $329 million, a 23% increase over second quarter 2020 and 17% increase over first quarter 2021 Net income of $16 million compared to a ne
MIAMISBURG, Ohio, July 27, 2021 /PRNewswire/ -- Verso Corporation (NYSE:VRS) today announced that it will host a conference call and webcast for analysts and investors on Friday, August 6, 2021 at 9 a.m. (EST) to discuss second quarter 2021 financial results. Analysts and investors may access the live conference call only by dialing 888-317-6003 (U.S. toll-free), 866-284-3684 (Canada toll-free) or 412-317-6061 (international) and referencing elite entry number 1830797 and Verso Corporation. To register, please dial in 10 minutes before the conference call begins. The news release and second quarter 2021 results will be available on Verso's website at http://investor.versoco.com by navigating
MIAMISBURG, Ohio, May 7, 2021 /PRNewswire/ -- Verso Corporation (NYSE:VRS) today reported financial results for the first quarter of 2021 and announced that its Board of Directors has declared a quarterly cash dividend for the quarter ending June 30, 2021, in the amount of $0.10 per each outstanding share of Verso's Class A common stock. The quarterly cash dividend is payable on June 29, 2021 to Verso's stockholders of record holding shares of common stock at the close of business June 17, 2021. First Quarter 2021 Highlights: Net sales of $282 million Improving price environment Net loss of $90 million after reflecting the write-off on certain assets Adjusted EBITDA of $30 million, with a
MIAMISBURG, Ohio, Feb. 25, 2021 /PRNewswire/ -- Verso Corporation (NYSE: VRS) today 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 Overview "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 a
MIAMISBURG, Ohio, Feb. 5, 2021 /PRNewswire/ -- Verso Corporation (NYSE: VRS) announced today that its Board of Directors has declared a cash dividend for the quarter ending March 31, 2021, in the amount of $0.10 per share of Verso's Class A common stock. The quarterly dividend is payable on March 29, 2021, to Verso's stockholders of record holding shares of common stock as of the close of business on March 18, 2021. Verso Corporation also announced today that it will hold its 2021 Annual Meeting of Stockholders on Thursday, May 6, 2021, at 10 a.m. (EDT) at a location to be announced at a later date. Stockholders of record of Verso's common stock at the close of business on March 22, 2021
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