Mercer International : reports first quarter 2022 results and...
April 28, 2022 at 04:43 pm EDT
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April 28, 2022 / All Stories, Company News, Featured, Investors
Mercer International Inc. reports first quarter 2022 results and announces quarterly cash dividend of $0.075
Selected Highlights
First quarter net income of $88.9 million and Operating EBITDA* of $154.5 million
Record quarterly pulp, lumber and energy revenues
NEW YORK, NY, April 28, 2022
Mercer International Inc. (Nasdaq: MERC) today reported first quarter 2022 Operating EBITDA increased to a $154.5 million from $82.0 million in the first quarter of 2021 and decreased from $164.9 million in the fourth quarter of 2021.
In the first quarter of 2022, net income was $88.9 million (or $1.35 per basic share and $1.34 per diluted share) compared to $5.9 million (or $0.09 per share) in the first quarter of 2021 and net income of $74.5 million (or $1.13 per basic share and $1.12 per diluted share) in the fourth quarter of 2021.
Mr. David Gandossi, the Chief Executive Officer, stated: "Our robust first quarter operating results were driven by strong sales volumes, increased pulp, lumber and energy pricing and our German mills' sales of surplus energy into the spot market. These positive effects were only partially offset by higher costs for key inputs including fiber, energy and chemicals. Despite the impact of such cost inflation, we believe that our cost control measures will help mitigate the effect of increases going forward and we see our surplus energy sales as a strong hedge for higher energy prices.
You can view the remainder of the results in greater detail here.
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Mercer International Inc. published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 20:42:36 UTC.
Mercer International Inc. is a global forest products company. The Company's segments include Pulp and Wood Products. The Company's four pulp mills and its 50% interest in the Cariboo pulp mill are aggregated into the pulp segment. Its wood segment includes the Friesau sawmill, the Torgau facility, and the Mercer Mass Timber facility. It owns a cross-laminated timber (CLT) facility located in Spokane, Washington called Mercer Mass Timber LLC. It produces electrical and thermal energy from biomass byproducts. Its products include pulp products, timber products, mass timber, green energy, bio extractives and biomaterials, biofuels, pallets, wood and transport services, and logistic services. Its operations include Mercer Celgar, Mercer Forestry Services, Mercer Holz, Mercer Logistik, Mercer Mass Timber, Mercer Peace River, Cariboo Pulp & Paper, Mercer Timber Products and Santanol. It also owns production facilities located in Conway, Arkansas and in Penticton, British Columbia, Canada.