Verso Paper (VRS) Reports Q4 Revenues Slightly Below Estimates; Offers 1Q18 Revenue Outlook Below Consensus
Verso Paper (NYSE: VRS) reported Q4 EPS of $, versus $0.77 reported last year. Revenue for the quarter came in at $639 million versus the consensus estimate of $639.95 million.
The Company is providing the following guidance:
2018 First Quarter
- Net Sales of $610-625 million. Price increases are favorable.
- Capital Expenditures are expected to be approximately $10 million.
- Seasonal use of working capital is expected to rise by $20-30 million.
- Cash pension funding of $5-8 million.
- Excess cash flow payment pending as we continue to pay down Term Loan.
Expectations for Full Year 2018
- Net Sales to be greater than 2017 (primarily due to pricing and A3 volume).
- Significant increases in logistics/freight.
- Inflation in energy, raw material and other input costs headed up.
- Capital Expenditures to be $60-70 million, up from $40 million in 2017.
- Cash pension funding of $45-50 million.
- Cash taxes of $0-5 million, primarily state income and franchise taxes.
- Major maintenance costs up $14-18 million.
Verso Paper sees Q1 2018 revenue of $610-625 million, versus the consensus of $642.66 million.
For earnings history and earnings-related data on Verso Paper (VRS) click here.