NEW YORK, May 27, 2024 (GLOBE NEWSWIRE) -- Mercer International Inc. ("Mercer" or the "Company") (Nasdaq: MERC) -- a global forest products company, today released its 2023 Sustainability Report. The report, titled "Fit for Future: Transition and Transformation" sets out Mercer's progress toward its 2030 environmental goals and other sustainability commitments, practices and accomplishments for 2023. Juan Carlos Bueno, President and CEO of Mercer, stated, "The 2023 Sustainability Report demonstrates our ded ...

Mercer's pulp segment was the main sequential driver of EBITDA improvement in Q1, contributing $36 million to the total $42 million improvement in the quarter. As we see below, there has been a marked improvement in pulp prices over the past two quarters in both the European & North American markets. The Chinese market continues to buck the trend here which may mean that its elevated ongoing level of exports may be distorting the pricing of pulp here to some degree. fabphoto/E+ via Getty Images Intro We wro ...

Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead ...

Financial Data and Key Metrics Changes - The company reported a consolidated net loss of $17 million for Q1 2024, an improvement from a net loss of $87 million in Q4 2023 [20] - EBITDA for Q1 was $64 million, significantly up from $21 million in Q4, driven by improved pulp sales realizations and lower production costs [39] - Total pulp sales volumes increased by 75,000 tons to 566,000 tons in Q1, aided by higher production due to reduced maintenance downtime [40] Business Line Data and Key Metrics Changes - The pulp segment contributed quarterly EBITDA of $68 million, while the solid wood segment reported a negative EBITDA of $1 million [39] - Average list prices for NBSK in Europe rose to $1,400 per ton, a 12% increase from Q4, and North American NBSK prices averaged $1,440 per ton, up 10% [17] - Lumber sales volumes were 121 million board feet, an 8% increase from Q4, despite overall demand remaining subdued [41] Market Data and Key Metrics Changes - Almost 50% of sales were directed to the U.S. market, although this percentage decreased slightly due to recovery signs in the U.K. and Ireland [2] - The European NBSK market showed significant improvement, while the Chinese market lagged behind due to slower demand [47] - The shipping pallet market remains weak, influenced by the overall weak European economy [6] Company Strategy and Development Direction - The company is focusing on expanding into green chemicals and products compatible with a circular carbon economy, including lignin extraction [1] - Strategic decisions include dissolving the Cariboo mill joint venture to concentrate resources on areas aligned with long-term goals [24] - The company plans to restart strategic CapEx projects at Torgau and Spokane mills to enhance production capabilities and reduce costs [28][68] Management Comments on Operating Environment and Future Outlook - Management expects upward pressure on pulp prices through Q2, with potential supply constraints due to labor actions in Canada [26] - The solid wood segment's results are improving but still below expectations, with high interest rates impacting housing starts [27] - There is cautious optimism regarding lumber pricing improvements linked to economic data and supply-demand dynamics [30][70] Other Important Information - The company invested approximately $18.5 million in operations during Q1, aligning with a reduced CapEx target for 2024 [46] - The Board approved a quarterly dividend of $0.075 per share for shareholders of record on June 26, 2024 [44] - The integration of mass timber assets is progressing well, with a significant order file totaling about $80 million at the end of March [49] Q&A Session Summary Question: What are the return parameters for the discretionary projects at Torgau and Spokane? - The return on these projects is expected to be less than three years, with completion anticipated by the end of next year [56] Question: How sustainable is the current momentum in pulp markets into the second half of the year? - Demand has improved, particularly in Europe and North America, but remains weaker in China; the recent surge is attributed to supply constraints and customer restocking [57] Question: Can you provide details on the large-scale mass timber projects? - Two significant projects are underway, expected to boost manufactured product sales and EBITDA in the coming quarters, with sales projected to reach $100 million to $120 million in 2024 [58][59]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the quarterly period ended March 31, 2024 Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File No.: 000-51826 MERCER INTERNATIONAL INC. (Exact name of Registrant as specified in its charter) Washington 47-0956945 Securities regis ...

EXHIBIT 99.1 For Immediate Release MERCER INTERNATIONAL INC. REPORTS FIRST QUARTER 2024 RESULTS AND ANNOUNCES QUARTERLY CASH DIVIDEND OF $0.075 Selected Highlights NEW YORK, NY, May 9, 2024 ‑ Mercer International Inc. (Nasdaq: MERC) today reported first quarter 2024 Operating EBITDA of $63.6 million, an increase from $27.5 million in the same quarter of 2023 and $21.1 million in the fourth quarter of 2023. In the first quarter of 2024, net loss was $16.7 million (or $0.25 per share), which included a non-ca ...

Selected Highlights First quarter Operating EBITDA* of $63.6 million and net loss of $16.7 million Improving pulp markets and lower costs driving stronger EBITDA Quarterly cash dividend of $0.075 per share NEW YORK, May 09, 2024 (GLOBE NEWSWIRE) -- Mercer International Inc. (NASDAQ:MERC) today reported first quarter 2024 Operating EBITDA of $63.6 million, an increase from $27.5 million in the same quarter of 2023 and $21.1 million in the fourth quarter of 2023. In the first quarter of 2024, net loss was $16 ...

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher."Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No.: 000-51826 MERCER INTERNATIONAL INC. (Exact name of Registrant as specified in its charter) Washington 47-0956945 of incorporation or organization) Sui ...

Financial Performance - Total revenues for Q3 2023 decreased by approximately 12% to $470.8 million from $532.8 million in Q3 2022, primarily due to lower pulp, energy, and lumber sales realizations [120]. - Net loss for Q3 2023 was $25.96 million, compared to net income of $66.75 million in Q3 2022, resulting in a diluted loss per share of $0.39 [116]. - Total operating income for Q3 2023 was a loss of $3.43 million, down from an operating income of $108.72 million in Q3 2022 [116]. - Operating EBITDA decreased to $37.5 million in Q3 2023 from $140.9 million in Q3 2022, primarily due to lower pulp, energy, and lumber sales realizations [127]. - For the nine months ended September 30, 2023, the company reported an Operating EBITDA of negative $3.7 million, a significant decline from positive $440.4 million in the same period of 2022, primarily due to lower sales realizations and higher costs [160]. - Cash used in operating activities was $60.3 million in the nine months ended September 30, 2023, compared to cash provided of $310.0 million in the same period of 2022 [186]. Revenue Breakdown - Pulp segment revenues for Q3 2023 were $348.9 million, down from $456.7 million in Q3 2022, while solid wood segment revenues increased to $119.5 million from $74.3 million [116]. - Pulp revenues decreased by approximately 20% to $318.1 million in Q3 2023 from $395.5 million in Q3 2022, attributed to lower sales realizations [130]. - Energy and chemical revenues fell by approximately 50% to $30.8 million in Q3 2023 from $61.2 million in Q3 2022 due to lower sales realizations [131]. - Pulp segment revenues decreased by approximately 16% to $1,061.9 million in the nine months ended September 30, 2023, down from $1,260.9 million in the same period of 2022, reflecting weak market conditions [163]. - Energy and chemical revenues in the pulp segment fell by approximately 37% to $90.0 million in the nine months ended September 30, 2023, compared to $141.9 million in the same period of 2022 [163]. - The solid wood segment revenues increased by approximately 26% to $366.6 million in the nine months ended September 30, 2023, from $290.0 million in the same period of 2022, driven by the inclusion of Torgau and ramping up mass timber operations [176]. Costs and Expenses - Costs and expenses in the nine months ended September 30, 2023 increased by approximately 22% to $1,655.7 million from $1,352.8 million in the same period of 2022, primarily due to the inclusion of Torgau [154]. - In Q3 2023, transportation costs increased by approximately 46% to $13.9 million from $9.5 million in Q3 2022, primarily due to higher sales volume [151]. - Transportation costs for the solid wood segment increased by approximately 44% to $48.0 million in the nine months ended September 30, 2023, from $33.4 million in the same period of 2022, primarily due to higher sales volumes [184]. Acquisitions and Investments - The company acquired Structurlam Mass Timber Corporation for $82.1 million on June 15, 2023, enhancing its mass timber production capabilities [109]. - Investing activities used cash of $179.7 million in the nine months ended September 30, 2023, primarily for capital expenditures of $110.3 million and acquisition costs of $82.1 million for mass timber assets [187]. - Capital expenditures for the nine months ended September 30, 2023, were $110.3 million, down from $128.9 million in the same period of 2022, a decrease of approximately 14.4% [192]. - The company expects capital expenditures for fiscal 2023 to be between $130 million and $150 million, indicating a reduction from previous plans [194]. Market Conditions and Outlook - The company expects modest improvements in pulp sales realizations in Q4 2023 due to increasing demand in China and reduced supply from curtailments [112]. - Demand for pulp and lumber is closely tied to global macro-economic conditions and can be volatile [223]. - The company faces risks from cyclical fluctuations in raw material prices, particularly fiber, which could adversely affect profitability [216]. Financial Position - Total assets decreased to $2,655.0 million as of September 30, 2023, down from $2,725.0 million as of December 31, 2022, a decline of approximately 2.6% [190]. - Long-term liabilities increased to $1,721.7 million as of September 30, 2023, up from $1,508.2 million as of December 31, 2022, reflecting a rise of about 14.1% [190]. - Cash and cash equivalents stood at $343.7 million as of September 30, 2023, with approximately $304.7 million available under revolving credit facilities, resulting in total liquidity of about $648.4 million [193]. - The company believes that cash flow from operations and available cash will be adequate to finance capital requirements and pay quarterly dividends over the next 12 months [196]. Credit Ratings and Financial Risks - S&P downgraded the company's senior notes rating to B from B+ in September 2023, with a negative outlook, while Moody's downgraded its rating to B2 from Ba3 [207]. - A non-cash decrease of $7.6 million in the carrying value of net assets denominated in euros was recorded due to the strengthening of the dollar as of September 30, 2023 [205]. - A decrease in the dollar's value relative to the euro and Canadian dollar adversely affects operating margins and cash flow [229]. - Such declines could materially impact the company's business, financial condition, and results of operations [229].