Announcement • Apr 22
Mercer International Inc., Annual General Meeting, Jun 01, 2026 Mercer International Inc., Annual General Meeting, Jun 01, 2026. Location: at suite 1120, 700 west pender street, british columbia, vancouver United States Buy Or Sell Opportunity • Mar 18
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 32% to US$1.36. The fair value is estimated to be US$1.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.5% over the last 3 years. Meanwhile, the company became loss making. New Risk • Mar 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$99.6m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (0.5% operating cash flow to total debt). Earnings have declined by 53% per year over the past 5 years. Minor Risk Market cap is less than US$100m (US$99.6m market cap). Price Target Changed • Feb 18
Price target decreased by 9.4% to US$1.81 Down from US$2.00, the current price target is an average from 4 analysts. New target price is 15% below last closing price of US$2.12. Stock is down 67% over the past year. The company is forecast to post a net loss per share of US$2.26 next year compared to a net loss per share of US$7.44 last year. Reported Earnings • Feb 15
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: US$7.44 loss per share (further deteriorated from US$1.27 loss in FY 2024). Revenue: US$1.87b (down 8.6% from FY 2024). Net loss: US$497.9m (loss widened 485% from FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 93%. Revenue is forecast to grow 8.3% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Forestry industry in North America. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 23 percentage points per year, which is a significant difference in performance. Announcement • Feb 13
Mercer International Inc. Reports Unaudited Consolidated Impairment Charges for the Fourth Quarter Ended December 31, 2025 Mercer International Inc. reported unaudited consolidated impairment charges for the fourth quarter ended December 31, 2025. For the quarter, the company reported impairments of long-lived assets of $215,682,000. Announcement • Jan 23
Mercer International Inc. to Report Q3, 2026 Results on Oct 29, 2026 Mercer International Inc. announced that they will report Q3, 2026 results on Oct 29, 2026 New Risk • Jan 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (2.2% operating cash flow to total debt). Earnings have declined by 40% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Reported Earnings • Nov 07
Third quarter 2025 earnings released: US$1.21 loss per share (vs US$0.26 loss in 3Q 2024) Third quarter 2025 results: US$1.21 loss per share (further deteriorated from US$0.26 loss in 3Q 2024). Revenue: US$458.1m (down 8.8% from 3Q 2024). Net loss: US$80.8m (loss widened 360% from 3Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Forestry industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 26 percentage points per year, which is a significant difference in performance. Announcement • Oct 21
Mercer International Inc. to Report Q2, 2026 Results on Jul 30, 2026 Mercer International Inc. announced that they will report Q2, 2026 results on Jul 30, 2026 Price Target Changed • Oct 20
Price target decreased by 11% to US$3.13 Down from US$3.50, the current price target is an average from 4 analysts. New target price is 28% above last closing price of US$2.44. Stock is down 61% over the past year. The company is forecast to post a net loss per share of US$3.24 next year compared to a net loss per share of US$1.27 last year. New Risk • Sep 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.09x net interest cover). Earnings have declined by 32% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Reported Earnings • Aug 01
Second quarter 2025 earnings released: US$1.29 loss per share (vs US$1.01 loss in 2Q 2024) Second quarter 2025 results: US$1.29 loss per share (further deteriorated from US$1.01 loss in 2Q 2024). Revenue: US$453.5m (down 9.2% from 2Q 2024). Net loss: US$86.1m (loss widened 27% from 2Q 2024). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Forestry industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. New Risk • Aug 01
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 9.9% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.09x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 32% per year over the past 5 years. Upcoming Dividend • Jun 20
Upcoming dividend of US$0.075 per share Eligible shareholders must have bought the stock before 26 June 2025. Payment date: 03 July 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 8.7%. Within top quartile of American dividend payers (4.8%). Higher than average of industry peers (2.0%). Announcement • May 31
Mercer International Inc. Elects Markwart von Pentz as Director Mercer International Inc. at its 2025 Annual Meeting of Shareholders held on May 30, 2025, elected Markwart von Pentz as Director. Declared Dividend • May 12
First quarter dividend of US$0.075 announced Dividend of US$0.075 is the same as last year. Ex-date: 26th June 2025 Payment date: 3rd July 2025 Dividend yield will be 7.6%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (66% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Reported Earnings • May 02
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: US$0.33 loss per share (further deteriorated from US$0.25 loss in 1Q 2024). Revenue: US$507.0m (down 8.4% from 1Q 2024). Net loss: US$22.3m (loss widened 34% from 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 30%. Revenue is forecast to grow 5.2% p.a. on average during the next 2 years, compared to a 2.5% growth forecast for the Forestry industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Announcement • May 02
Mercer International Inc. Announces Quarterly Cash Dividend, Payable on July 3, 2025 Mercer International Inc. announced a quarterly dividend of $0.075 per share which will be paid on July 3, 2025 to all shareholders of record on June 26, 2025. Future dividends will be subject to Board approval and may be adjusted as business and industry conditions warrant. Announcement • Apr 29
Svante Technologies Inc. and Mercer International Inc. Advance Carbon Capture Project At Alberta Pulp Mill Svante Technologies Inc. announced that its joint carbon capture and storage project with Mercer International Inc. (Mercer) has advanced to the Front-end Engineering and Design Phase 2 (FEL-2). Also known as Pre-FEED, this phase involves engineering, cost estimation, and risk analysis to evaluate the project's commercial viability. Mercer is a global producer of sustainably sourced forest products, including pulp, lumber, mass timber, biomass-based green energy, and bioextractives. The carbon capture project targets biogenic CO2 emissions from Mercer's Peace River pulp mill, where the biomass (fibre) is sourced from sustainably managed forests. Advancing to the Pre-FEED stage will support further development of the integrated design, cost estimates, and risk assessments--key steps toward a final investment decision and potential implementation. This milestone reflects the growing momentum for carbon capture solutions within Canada's pulp and paper sector. Svante's second-generation carbon capture technology is engineered for commercial-scale deployment in industrial environments such as pulp mills-- settings where integration must be cost-effective, modular, and resilient to operational variability. As decarbonization efforts intensify across heavy industry, this project offers a timely opportunity to demonstrate how advanced capture systems can be applied within existing infrastructure. At the core of Svante's solution is its structured sorbent filter system, which uses solid materials coated with metal-organic frameworks (MOFs)--nanomaterials specifically designed to capture CO2 molecules selectively to selectively capture CO2 molecules. These filters represent a meaningful evolution over earlier carbon capture systems, offering reduced energy requirements and broader industrial applicability. Svante's technology also provides: Robust Particulate Handling: Structured adsorbent filters are highly resistant to particulate fouling, ensuring consistent performance in challenging pulp mill environments. Environmentally Responsible Design: Materials are free from toxic emissions and degradation byproducts. The company's sorbent-based filters are designed to be recyclable, minimizing environmental impact. Rapid Response to Operational Fluctuations: Svante's rapid capture process adapts quickly to intermittent operations, eliminating the need for onsite liquid solvent storage and makeup. Compact and Modular Design: Minimizes capture plant vertical footprint and vertical visual impact, offering significant benefits for site integration. Additional Project Highlights: Leveraging Clean Power Production from the Mercer Peace River Mill: The project's energy requirements will be met by low-carbon electricity generated onsite, with recovered waste heat further increasing the net CO2 emissions avoided. Sustainably Sourced Fibre: The mill sources its fibre from sustainably managed forests certified to SFI. Permanent and Safe CO2 Storage Within Alberta's Abundant Sequestration Resource: Alberta has proven, abundant geologic reservoirs--formations capable of securely storing CO2--supported by a government-enabled regulatory framework that includes robust permitting processes and liability management tools. Price Target Changed • Apr 19
Price target decreased by 10% to US$6.63 Down from US$7.38, the current price target is an average from 4 analysts. New target price is 34% above last closing price of US$4.96. Stock is down 48% over the past year. The company is forecast to post a net loss per share of US$0.29 next year compared to a net loss per share of US$1.27 last year. Announcement • Apr 19
Mercer International Inc., Annual General Meeting, May 30, 2025 Mercer International Inc., Annual General Meeting, May 30, 2025. Location: hybrid format, suite 1120, 700 west pender street, british columbia, vancouver United States Buy Or Sell Opportunity • Mar 19
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 8.5% to US$6.61. The fair value is estimated to be US$5.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Declared Dividend • Feb 26
Fourth quarter dividend of US$0.075 announced Dividend of US$0.075 is the same as last year. Ex-date: 26th March 2025 Payment date: 2nd April 2025 Dividend yield will be 3.7%, which is about the same as the industry average. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (341% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Reported Earnings • Feb 21
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: US$1.27 loss per share (improved from US$3.65 loss in FY 2023). Revenue: US$2.04b (up 2.5% from FY 2023). Net loss: US$85.1m (loss narrowed 65% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 12%. Revenue is forecast to grow 4.2% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Forestry industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Announcement • Feb 21
Mercer International Inc. Announces Quarterly Cash Dividend, Payable on April 2, 2025 Mercer International Inc. announced a quarterly dividend of $0.075 per share will be paid on April 2, 2025 to all shareholders of record on March 26, 2025. Announcement • Jan 22
Mercer International Inc. to Report Q3, 2025 Results on Nov 06, 2025 Mercer International Inc. announced that they will report Q3, 2025 results on Nov 06, 2025 Upcoming Dividend • Dec 11
Upcoming dividend of US$0.075 per share Eligible shareholders must have bought the stock before 18 December 2024. Payment date: 26 December 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 4.5%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (1.4%). New Risk • Dec 03
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$168k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (0.7% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 22% per year over the past 5 years. Minor Risk Significant insider selling over the past 3 months (US$168k sold). Recent Insider Transactions • Nov 24
Insider recently sold US$168k worth of stock On the 20th of November, Eric Heine sold around 27k shares on-market at roughly US$6.23 per share. This transaction amounted to 57% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$67k more than they sold in the last 12 months. Declared Dividend • Nov 04
Third quarter dividend of US$0.075 announced Dividend of US$0.075 is the same as last year. Ex-date: 18th December 2024 Payment date: 26th December 2024 Dividend yield will be 4.7%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. Reported Earnings • Nov 01
Third quarter 2024 earnings released: US$0.26 loss per share (vs US$0.39 loss in 3Q 2023) Third quarter 2024 results: US$0.26 loss per share (improved from US$0.39 loss in 3Q 2023). Revenue: US$502.1m (up 6.7% from 3Q 2023). Net loss: US$17.6m (loss narrowed 32% from 3Q 2023). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Forestry industry in North America. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Announcement • Nov 01
Mercer International Inc. Announces Quarterly Cash Dividend, Payable on December 26, 2024 Mercer International Inc. announced quarterly dividend of $0.075 per share will be paid on December 26, 2024 to all shareholders of record on December 18, 2024. Announcement • Oct 18
Mercer International Inc. to Report Q2, 2025 Results on Jul 31, 2025 Mercer International Inc. announced that they will report Q2, 2025 results on Jul 31, 2025 Upcoming Dividend • Sep 18
Upcoming dividend of US$0.075 per share Eligible shareholders must have bought the stock before 25 September 2024. Payment date: 03 October 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 4.7%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (1.5%). Recent Insider Transactions • Sep 06
Insider recently bought US$111k worth of stock On the 3rd of September, Wolfgang Beck bought around 19k shares on-market at roughly US$6.02 per share. This transaction increased Wolfgang's direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Buy Or Sell Opportunity • Sep 05
Now 20% overvalued Over the last 90 days, the stock has fallen 37% to US$5.65. The fair value is estimated to be US$4.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 09
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: US$1.01 loss per share (improved from US$1.48 loss in 2Q 2023). Revenue: US$499.4m (down 5.8% from 2Q 2023). Net loss: US$67.6m (loss narrowed 31% from 2Q 2023). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) missed analyst estimates by 106%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Forestry industry in North America. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Price Target Changed • Jul 24
Price target decreased by 7.1% to US$9.88 Down from US$10.63, the current price target is an average from 4 analysts. New target price is 27% above last closing price of US$7.77. Stock is down 12% over the past year. The company is forecast to post a net loss per share of US$0.49 next year compared to a net loss per share of US$3.65 last year. New Risk • Jul 11
New major risk - Revenue and earnings growth Earnings have declined by 14% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 14% per year over the past 5 years. Upcoming Dividend • Jun 19
Upcoming dividend of US$0.075 per share Eligible shareholders must have bought the stock before 26 June 2024. Payment date: 03 July 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.5%. Lower than top quartile of American dividend payers (4.8%). Higher than average of industry peers (1.6%). Declared Dividend • May 13
First quarter dividend of US$0.075 announced Dividend of US$0.075 is the same as last year. Ex-date: 26th June 2024 Payment date: 3rd July 2024 Dividend yield will be 2.8%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. Announcement • May 11
Mercer International Inc. Announces Quarterly Cash Dividend, Payable on July 3, 2024 Mercer International Inc. announced quarterly dividend of $0.075 per share will be paid on July 3, 2024 to all shareholders of record on June 26, 2024. Future dividends will be subject to Board approval and may be adjusted as business and industry conditions warrant. Reported Earnings • May 10
First quarter 2024 earnings released: US$0.25 loss per share (vs US$0.46 loss in 1Q 2023) First quarter 2024 results: US$0.25 loss per share (improved from US$0.46 loss in 1Q 2023). Revenue: US$553.4m (up 5.9% from 1Q 2023). Net loss: US$16.7m (loss narrowed 45% from 1Q 2023). Revenue is forecast to grow 4.5% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Forestry industry in North America. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Apr 23
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 16% to US$10.00. The fair value is estimated to be US$8.15, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • Apr 14
Price target increased by 8.3% to US$9.75 Up from US$9.00, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of US$9.44. Stock is down 0.1% over the past year. The company is forecast to post a net loss per share of US$0.63 next year compared to a net loss per share of US$3.65 last year. Upcoming Dividend • Mar 19
Upcoming dividend of US$0.075 per share Eligible shareholders must have bought the stock before 26 March 2024. Payment date: 04 April 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (1.6%). Buy Or Sell Opportunity • Mar 04
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to US$10.17. The fair value is estimated to be US$8.17, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company became loss making. Announcement • Feb 27
Mercer International Inc. Announces Management Changes Mercer International Inc. announced that Jimmy Lee is stepping down as Executive Chairman and director of the Company for personal health reasons. He has been appointed Chairman Emeritus. As a result, the Company has revised its governance structure to provide for an independent Chairman. William McCartney, who previously served as lead director, has been appointed Interim Chairman by the Company's board of directors. Declared Dividend • Feb 19
Fourth quarter dividend of US$0.075 announced Dividend of US$0.075 is the same as last year. Ex-date: 26th March 2024 Payment date: 4th April 2024 Dividend yield will be 3.6%, which is about the same as the industry average. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. Recent Insider Transactions Derivative • Feb 18
CEO, President & Director exercised options and sold US$206k worth of stock On the 15th of February, Juan Bueno exercised options to acquire 26k shares at no cost and sold these for an average price of US$7.78 per share. This trade did not impact their existing holding. For the year to December 2022, Juan's total compensation was 9% salary and 91% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2023, Juan has owned 27.50k shares directly. Company insiders have collectively sold US$667k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Feb 16
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: US$3.65 loss per share (down from US$3.74 profit in FY 2022). Revenue: US$1.99b (down 13% from FY 2022). Net loss: US$242.1m (down 198% from profit in FY 2022). Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 21%. Revenue is forecast to grow 8.0% p.a. on average during the next 2 years, compared to a 4.3% growth forecast for the Forestry industry in North America. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • Feb 16
Mercer International Inc. Declares Quarterly Dividend, Payable on April 4, 2024 Mercer International Inc. announced that a quarterly dividend of $0.075 per share will be paid on April 4, 2024 to all shareholders of record on March 27, 2024. Future dividends will be subject to Board approval and may be adjusted as business and industry conditions warrant. Price Target Changed • Jan 12
Price target increased by 7.6% to US$8.88 Up from US$8.25, the current price target is an average from 4 analysts. New target price is 9.8% below last closing price of US$9.84. Stock is down 20% over the past year. The company is forecast to post a net loss per share of US$2.78 compared to earnings per share of US$3.74 last year. Upcoming Dividend • Dec 12
Upcoming dividend of US$0.075 per share at 3.4% yield Eligible shareholders must have bought the stock before 19 December 2023. Payment date: 28 December 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (4.8%). Higher than average of industry peers (1.9%). Announcement • Nov 25
Mercer International Inc. to Report Q3, 2024 Results on Oct 31, 2024 Mercer International Inc. announced that they will report Q3, 2024 results on Oct 31, 2024 Reported Earnings • Nov 03
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: US$0.39 loss per share (down from US$1.01 profit in 3Q 2022). Revenue: US$470.8m (down 12% from 3Q 2022). Net loss: US$26.0m (down 139% from profit in 3Q 2022). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 36%. Revenue is forecast to grow 2.2% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Forestry industry in the US. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Nov 03
Mercer International Inc. Announces Quarterly Cash Dividend, Payable on December 28, 2023 Mercer International Inc. announced a quarterly cash dividend of $0.075 per share will be paid on December 28, 2023 to all shareholders of record on December 20, 2023. Announcement • Oct 22
Mercer International Inc. to Report Q2, 2024 Results on Aug 08, 2024 Mercer International Inc. announced that they will report Q2, 2024 results on Aug 08, 2024 Upcoming Dividend • Sep 19
Upcoming dividend of US$0.075 per share at 3.5% yield Eligible shareholders must have bought the stock before 26 September 2023. Payment date: 04 October 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.5%. Lower than top quartile of American dividend payers (4.9%). Higher than average of industry peers (2.0%). Major Estimate Revision • Aug 25
Consensus EPS estimates fall by 72%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from US$1.97b to US$1.99b. Forecast EPS reduced from -US$1.74 to -US$2.99 per share. Forestry industry in the US expected to see average net income decline 8.7% next year. Consensus price target broadly unchanged at US$8.60. Share price was steady at US$8.79 over the past week. Price Target Changed • Aug 06
Price target decreased by 9.2% to US$8.90 Down from US$9.80, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of US$9.18. Stock is down 39% over the past year. The company is forecast to post a net loss per share of US$1.99 compared to earnings per share of US$3.74 last year. New Risk • Aug 04
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 3.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows.