Mercer International
Makes pulp, lumber, and engineered wood products.
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Profile
Kraft Pulp and Solid Wood are the two reportable segments, spanning kraft pulp, lumber, engineered mass timber, pallets, biofuels, and electricity. Operations span Germany, Canada, and the United States, while fibre costs and pulp and lumber market prices shape operating conditions.
Kraft Pulp and Solid Wood are the two reportable segments. The Kraft Pulp segment makes kraft pulp, while Solid Wood produces lumber, cross-laminated timber, glulam, pallets, biofuels, and electricity. The pulp business is a multi-mill platform built through construction and acquisitions.
Operations span Germany, Canada, and the United States, with most employees in Germany. The business broadened from pulp into solid wood through mill and facility acquisitions. The workforce is split between the two segments. Fibre costs and pulp and lumber market prices shape operating conditions, and most employees are covered by collective agreements.
Company facts
Key statistics
Year to date −80.4% · Average volume (30d) 5.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 21, 2026 | CIBC | Reiterate | Neutral | $1.50 | $1 | |
| May 11, 2026 | CIBC | Target | $5 | $1.50 | ||
| Apr 16, 2026 | RBC Capital | Reiterate | Sector Perform | $8 | $1.25 | |
| Jan 21, 2026 | TD Securities | Target | $2.25 | |||
| Jan 21, 2026 | TD Cowen | Downgrade | Hold | Sell |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.95 | −$1.13 | −18.9% | $476.0M | $460.3M | −3.3% | −12.07% |
| May 7, 2026Q1 FY26 | −$0.74 | −$0.78 | −5.4% | $493.0M | $489.3M | −0.7% | −11.71% |
| Feb 12, 2026Q4 FY25 | −$0.87 | −$1.39 | −59.8% | $456.5M | $449.5M | −1.5% | +4.71% |
| Nov 6, 2025Q3 FY25 | −$0.89 | −$0.97 | −9.0% | $459.8M | $458.1M | −0.4% | −2.13% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $507.0M | $453.5M | $458.1M | $449.5M | $489.3M | $460.3M | |
| Gross profit | $36.4M | −$28.0M | $671.0K | −$37.3M | −$4.3M | −$27.4M | |
| Operating income | $6.7M | −$58.4M | −$67.6M | −$62.8M | −$32.9M | −$59.0M | |
| Net income | −$22.3M | −$86.1M | −$80.8M | −$308.7M | −$52.0M | −$76.0M | |
| Diluted EPS | −$0.33 | −$1.29 | −$1.21 | −$4.61 | −$0.78 | −$1.13 | |
| Gross margin | 7.2% | -6.2% | 0.1% | -8.3% | -0.9% | -6.0% | |
| Operating margin | 1.3% | -12.9% | -14.8% | -14.0% | -6.7% | -12.8% |
Fiscal years (4-quarter sums)FY21 $1.80B · FY22 $2.28B · FY23 $1.99B · FY24 $2.04B · FY25 $1.87B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $78.8M · Total debt $1.64B · Total assets $1.87B · Shareholders' equity −$98.0M
Dividends
Last raised to $0.075 from $0.065 in Mar 2022.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 26, 2025 | Jun 26 | Jul 3 | $0.075 | |
| Mar 26, 2025 | Mar 26 | Apr 2 | $0.075 | |
| Dec 18, 2024 | Dec 18 | Dec 26 | $0.075 | |
| Sep 25, 2024 | Sep 25 | Oct 3 | $0.075 | |
| Jun 26, 2024 | Jun 26 | Jul 3 | $0.075 | |
| Mar 26, 2024 | Mar 27 | Apr 4 | $0.075 | |
| Dec 19, 2023 | Dec 20 | Dec 28 | $0.075 | |
| Sep 26, 2023 | Sep 27 | Oct 4 | $0.075 |
Ownership
Shares outstanding 66.98M · Float 37.74M · 56.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Peter R. Kellogg | 26.95M | 40.25% | 13D | Jul 31, 2026 |
| Iat Reinsurance Co Ltd. | 17.22M | 25.71% | 13F | May 14, 2026 |
| Redwood Capital Management, LLC | 4.65M | 6.94% | 13F | May 15, 2026 |
| Barclays PLC | 3.85M | 5.75% | 13G | May 14, 2026 |
| Whitebox Advisors LLC | 3.59M | 5.40% | 13G | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 1, 2026 | Peter R. Kellogg | 10 percent owner | +64,885 | $0.9006 |
| Jun 2, 2026 | Peter R. Kellogg | 10 percent owner | +1,047 | $0.9155 |
| Jun 4, 2026 | Peter R. Kellogg | 10 percent owner | +36,000 | $0.8894 |
| Jun 5, 2026 | Peter R. Kellogg | 10 percent owner | +36,000 | $0.8498 |
| Jun 8, 2026 | Peter R. Kellogg | 10 percent owner | +34,733 | $0.7984 |
Peers
- West Fraser Timber
Broad overlap in lumber, NBSK pulp and wood residuals
- Suncor Energy
Large global market-pulp producer with NYSE-listed ADRs
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Mercer International | $0.3670 | −4.48% | $25.8M | — | — | 0.0 | +1.5% |
| West Fraser Timber | $67.67 | −0.25% | $5.14B | — | 3,768.9 | 0.9 | −7.9% |
| Suncor Energy | $65.72 | +0.44% | $77.26B | 12.1 | 11.5 | 1.8 | +31.9% |
| Median | 12.1 | 1,890.2 | 1.4 | +12.0% |