May 9, 2024 / All Stories, Company News, Featured, Investors

Mercer International Inc. reports first quarter 2024 results and announces quarterly cash dividend of $0.075

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, 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-cash loss on disposal of $23.6 million (or $0.35 per share) relating to the dissolution of the Cariboo Pulp and Paper ("CPP") joint venture, compared to a net loss of $30.6 million (or $0.46 per share) in the first quarter of 2023 and a net loss of $87.2 million (or $1.31 per share) in the fourth quarter of 2023, which included a non-cash impairment charge of $33.7 million (or $0.51 per share) relating to the classification of our sandalwood business as held for sale.

Mr. Juan Carlos Bueno, Chief Executive Officer, stated: "In the first quarter, our operating results were positively impacted by an improved pulp and lumber pricing environment, lower fiber and other production costs and no planned maintenance downtime.

You can review the remainder of the results in greater detail here.