MIAMISBURG, Ohio, October 27, 2019 – Shares of Verso Corporation (NYSE: VRS) showed the bullish trend with a higher momentum of 2.16% to $14.18. The company traded total volume of 101.012K shares as contrast to its average volume of 326.83K shares. The company has a market value of $487.93M and about 34.41M shares outstanding.
In the first quarter of 2019, Verso Corporation (VRS) reported operating income of $37.0M, an increase of $32.0M when compared to operating income of $5.0M in the first quarter of 2018. This increase in operating income is primarily attributable to:
Interest expense:
Interest expense in the first quarter of 2019 decreased $10.0M over the same period in 2018. Interest expense in the first quarter of 2018 includes $4.0M in non-cash accelerated amortization of debt issuance cost and discount associated with the voluntary principal prepayments and excess cash flow payments on our prior term loan facility. The remaining decrease in interest expense resulted from the reduction in amounts outstanding under the ABL Facility and the payoff of our prior term loan facility on September 10, 2018.
The Company offered net profit margin of 3.60% while its gross profit margin was 15.30%. ROE was recorded as 10.90%. The stock, as of recent close, has shown the weekly upbeat performance of 6.14% which was maintained at -36.70% in this year.