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Mercer International Inc. (NASDAQ: MERC) is a global leader in the forest products industry, specializing in the production of fiber, renewable energy, and chemicals from sustainable sources. As one of the world's largest producers of Northern Bleached Softwood Kraft (NBSK) market pulp, Mercer operates with a substantial annual capacity of approximately 1.525 million air-dry metric tons (admt) across its three state-of-the-art mills located in Canada and Germany. These facilities are renowned for their superior product quality, consistent output, and exceptional service.
Mercer operates through two main segments: Pulp and Solid Wood. The Pulp segment includes the manufacturing, sale, and distribution of pulp, electricity, and chemicals. The Solid Wood segment is involved in the production and sale of lumber, wood pallets, biofuels, and wood residuals. Mercer's operations extend to multiple geographical regions including the USA, Germany, China, and other countries, with the majority of its revenue being driven by its operations in the United States.
Mercer's commitment to sustainability is reflected in its low capital requirements, high efficiency, and compliance with state-of-the-art environmental standards, ensuring that all facilities are net energy producers. The company continues to innovate, focusing on the renewable energy sector and significantly contributing to the global supply of essential human needs.
In recent news, Mercer International announced the dissolution of its 50/50 joint venture in Cariboo Pulp and Paper with West Fraser Timber Co. Ltd. This strategic move allows Mercer to redeploy resources to areas aligned with its long-term focus, enhancing its operational efficiency. The company is led by CEO Juan Carlos Bueno and Executive Chairman Jimmy S.H. Lee.
For live updates and detailed financial and operating highlights, investors can visit the Investor Relations section of Mercer's website.
Mercer International (MERC) reported improved Q4 2024 results with Operating EBITDA of $99.2 million, up from $50.5 million in Q3 2024 and $21.1 million in Q4 2023. Net income reached $16.7 million ($0.25 per share) in Q4 2024, compared to a net loss of $17.6 million in Q3 2024.
Total revenues in Q4 2024 increased 4% to $488.4 million, driven by higher pulp sales realizations. The company successfully refinanced its 2026 Senior Notes, extending maturity to 2028, and reduced long-term debt by over $100 million using cash on hand. The board declared a quarterly dividend of $0.075 per share.
For full-year 2024, Operating EBITDA improved to $243.7 million from $17.5 million in 2023. The company ended 2024 with approximately $488.6 million in aggregate liquidity.
Mercer International (NASDAQ: MERC) has announced its upcoming fourth quarter 2024 financial results release, scheduled for Thursday, February 20, 2025, after market close. The company will host a conference call on Friday, February 21, 2025, at 10:00 am ET, featuring President and CEO Juan Carlos Bueno and CFO Richard Short.
Interested parties can access the live webcast through the company's website, with a replay available for those unable to attend. Participants wanting to join the live call must register to receive a dial-in number and PIN, or can use the dial-out 'Call Me' option.
Mercer International operates in Germany, the United States, and Canada with an annual production capacity of 2.1 million tonnes of pulp, 960 million board feet of lumber, 210,000 cubic meters of cross-laminated timber, 45,000 cubic meters of glulam, 17 million pallets, and 230,000 metric tonnes of biofuels.
Mercer International Inc. (Nasdaq: MERC) has announced its participation in the 28th Annual CIBC Western Institutional Investor Conference. The company will be represented by Juan Carlos Bueno, President and CEO, and Richard Short, CFO & Secretary.
The conference is scheduled to take place from January 22-24, 2025, at the Fairmont Chateau Whistler in British Columbia. The company executives will participate in a fireside chat on Wednesday, January 22, 2025, at 11:40 a.m. PST.
Mercer International (MERC) reported Q3 2024 Operating EBITDA of $50.5 million, up 35% from $37.5 million in Q3 2023. Net loss improved to $17.6 million ($0.26 per share) from $26.0 million ($0.39 per share) in Q3 2023. Total revenues increased 7% to $502.1 million, driven by higher pulp and manufactured products sales realizations. Production was impacted by unplanned downtime at Peace River mill and other facilities, reducing pulp production by 71,200 ADMTs. The company announced a quarterly dividend of $0.075 per share and completed refinancing of $300 million 2026 Senior Notes.
Mercer International (Nasdaq: MERC) has completed a private offering of $200 million in 12.875% senior notes due October 1, 2028, issued at 103.000% of principal amount. The Additional Notes, combined with cash on hand, will be used to redeem $300 million of 5.500% senior notes due 2026. The redemption is scheduled for November 1, 2024. This transaction will result in a $100 million reduction in total debt. The Additional Notes were sold to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act.
Mercer International (Nasdaq: MERC) has priced a private offering of $200.0 million in 12.875% senior notes due October 1, 2028, issued at 103.000% of principal amount. The proceeds, combined with cash on hand, will be used to redeem $300.0 million of 5.500% senior notes due 2026. The Additional Notes will share terms with existing notes issued in September 2023, offering a yield to worst of 11.624%. The offering, targeted at qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S, is expected to close around October 30, 2024.
Mercer International Inc. (Nasdaq: MERC) has announced a proposed add-on offering of $200 million in senior notes due October 1, 2028. These Additional Notes will be issued under an existing indenture from September 21, 2023, which previously issued $200 million in 12.875% senior notes due 2028. The company plans to use the net proceeds, along with cash on hand, to redeem $300 million in principal amount of its outstanding 5.500% senior notes due 2026.
The redemption is scheduled for November 1, 2024, conditional upon completion of the Offering. The Additional Notes will be offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act. These notes have not been registered under the Securities Act and may not be offered or sold in the U.S. without exemption or registration.
Mercer International Inc. (Nasdaq: MERC) reported preliminary financial results for Q3 2024. Key highlights include:
- Revenues: $502.1 million
- Operating income: $8.8 million
- Operating EBITDA: $50.5 million
- Net loss: $17.6 million
- Liquidity: ~$554 million
The company faced unscheduled downtime at its mills, impacting pulp production. However, CEO Juan Carlos Bueno expressed optimism about capitalizing on strong NBSK markets for the remainder of 2024. NBSK list prices in Europe and North America were $1,535 and $1,735 per ADMT, respectively, as of September 30, 2024. The U.S. benchmark lumber price for Western SPF No. 2 was $390 per Mfbm. Mercer will report full Q3 2024 financial results on October 31, 2024.
Mercer International Inc. (Nasdaq: MERC) has announced temporary downtime at its Peace River mill due to a mechanical failure in the mill's digester. The company expects repairs and assessments to be completed by mid-October 2024, resulting in a reduction of approximately 45,000 tonnes of NBHK production. Mercer maintains property and business interruption insurance for the mill and anticipates coverage for the repairs and downtime, subject to standard deductibles and limits.
Mercer International is a global forest products company with operations in Germany, the USA, and Canada. The company has a consolidated annual production capacity of 2.1 million tonnes of pulp, 960 million board feet of lumber, 210 thousand cubic meters of cross-laminated timber, 45,000 cubic meters of glulam, 17 million pallets, and 230,000 metric tonnes of biofuels.
Mercer International Inc. (Nasdaq: MERC) has announced that its President and CEO, Juan Carlos Bueno, will be presenting at the Jefferies 2024 Industrials Conference on September 4, 2024, at 4:50 PM EDT. The presentation will be available on the company's website in the 'Investors - News Releases & Presentations' section on the morning of the event.
Mercer International is a global forest products company with operations in Germany, the United States, and Canada. The company's annual production capacity includes:
- 2.1 million tonnes of pulp
- 960 million board feet of lumber
- 210,000 cubic meters of cross-laminated timber
- 45,000 cubic meters of glulam
- 17 million pallets
- 230,000 metric tonnes of biofuels
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