Mercer Negative EBITDA May Worsen Into Q1 '26

Group 1 - Mercer International Inc. (MERC) presented Q4 '25 results this week, marking the first analysis since Q2 '25 results [1] - The company has been covered since October 2025, indicating a focus on long-term operational performance rather than short-term market dynamics [2] Group 2 - The analysis emphasizes understanding the long-term earnings power of companies and the competitive dynamics within their industries [2] - The investment strategy is centered around holding companies for the long term, with a focus on operational aspects rather than market-driven price actions [2]