MERCER INTERNATIONAL (MERC) Company Report

Mercer International Inc. reported a Net Loss of ($81) million and Loss per Share of ($1.21 / share) for Q3 2025, an improvement from Q2 2025.
Operating EBITDA decreased quarter-over-quarter to ($28) million in Q3 2025, primarily due to lower sales realizations, a $20 million non-cash inventory impairment, and persistent global trade uncertainties.
The company's liquidity position declined to $376 million in Q3 2025 from $438 million in Q2 2025, with cash decreasing to $98 million.
Mercer aims to improve profitability by $100 million by the end of 2026 (vs. 2024 baseline), anticipating $30 million in cost savings for 2025, and expects mass timber revenue to gain momentum in Q4 2025.
Significant headwinds included trade uncertainty, pulp pricing pressure, and a $11 million increase in operating costs in Q3 due to U.S. dollar weakness.

Nov 7, 2025, 3:00 PM

MERC Reports Q3 2025 Net Loss Amidst Trade Headwinds, Progresses on Cost Savings

MERC

Earnings

Guidance Update

Demand Weakening

MERC reported a consolidated net loss of $81 million, or $1.21 per share, for Q3 2025, consuming $48 million in cash, while maintaining a strong liquidity position of $376 million.
The company is progressing with its "One Goal 100" program, aiming for $100 million in profitability improvements by the end of 2026, with $30 million in cost savings and reliability improvements anticipated by the end of 2025, alongside targeted reductions in working capital and CapEx.
Operational results were negatively impacted by trade uncertainty, including new 10% tariffs on European lumber and a total duty and tariff impact of approximately 50% on Canadian lumber, and U.S. dollar weakness which increased operating costs by $11 million compared to Q2.
Despite overall solid wood segment weakness, the mass timber business shows strong potential with a healthy order book, driven by significant demand from data center construction, projecting sales to grow from $60 million this year to $130 million next year.

Nov 7, 2025, 3:00 PM

Mercer International Inc. Reports Significant Q3 2025 Loss Amidst Challenging Market Conditions

MERC

Earnings

Demand Weakening

Profit Warning

Mercer International Inc. reported a net loss of $80.8 million ($1.21 per share) and negative Operating EBITDA of $28.1 million for the third quarter of 2025, a significant decline from positive results in the same quarter of 2024.
The company's financial performance was negatively impacted by persistent global economic and trade uncertainties, higher fiber costs, and pulp grade substitution, which led to a $20.4 million non-cash inventory impairment in Q3 2025.
To address these challenges, Mercer is advancing its "One Goal One Hundred" program, targeting $100 million in cost savings and operational efficiency by the end of 2026, with approximately $30 million expected by the end of 2025.
Both the Pulp and Solid Wood segments recorded negative Operating EBITDA in Q3 2025, with pulp sales realizations decreasing and per unit fiber costs increasing across segments.
Management emphasizes that liquidity remains a top priority, and additional steps are being taken, including further cost reductions and lowering capital expenditures for 2026, to improve the balance sheet.

Nov 6, 2025, 9:33 PM

Altimetrik Completes Acquisition of SLK Software

MERC

M&A

Altimetrik has successfully completed the acquisition of SLK Software, marking a significant step in building a strong digital engineering company.
Following the integration, SLK Software will operate as "SLK, an Altimetrik company".
The combined entity will have over 10,000 professionals from 17 countries and over 20 engineering centers, serving over 150 enterprise clients, including several Fortune 500 companies.
This integration combines Altimetrik's AI-first, data-driven innovation capabilities with SLK's strengths in intelligent enterprise, digital operations, intelligent infrastructure, automation, and quality engineering.
The acquisition is expected to accelerate enterprise modernization and unlock transformative outcomes for clients, leveraging a stronger technology alliance ecosystem including OpenAI, Amazon Web Services, Snowflake, and Databricks.

Oct 25, 2025, 5:44 PM

Mercer International Reports Q2 2025 Results and Dividend Suspension

MERC

Earnings

Dividends

Demand Weakening

Mercer International reported a 9% year-over-year revenue decline to $453.5 million and a net loss of $86.1 million in the second quarter of 2025.
Operating EBITDA for Q2 2025 plunged to a negative $20.9 million, leading the company to suspend its quarterly dividend.
The downturn was primarily driven by weaker demand for pulp in China, lower sales realizations, and an $11 million non-cash impairment on hardwood inventory.
Mercer is accelerating its 'One Goal One Hundred' program, which aims to achieve $100 million in cost savings by 2026, although only $5 million in savings have been realized as of Q2 2025.
Analysts currently rate the stock a 'hold' amid ongoing uncertainties from global trade disruptions, currency fluctuations, and subdued Chinese demand.

Aug 1, 2025, 1:41 AM

Mercer International Q1 2025 Results & Strategic Initiatives

MERC

Earnings

Guidance Update

New Projects/Investments

EBITDA declined significantly from $99M in Q4 2024 to $47M in Q1 2025, driven by a 22-day planned maintenance at the Celgar mill and a weakening U.S. dollar .
Reported a net income loss of $22M in Q1 2025 compared to $17M in Q4 2024, impacting per share performance .
Operated without tariffs on pulp from Canada and lumber from Germany amid a pending Section 232 review, supporting strong mill performance despite maintenance pressures .
Announced a cost efficiency program targeting $100M in savings by the end of 2026, with $40–50M anticipated savings already in 2025 from enhanced operational efficiency .
Reduced planned CapEx to approximately $100M in 2025, focusing on maintenance, environmental, and safety projects while advancing new initiatives such as a lignin extraction pilot and a potential carbon capture project .
Maintained stable production and sales volumes while managing market headwinds .

May 2, 2025, 2:01 PM

Earnings Transcripts

Quarterly earnings call transcripts for MERCER INTERNATIONAL.

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