Mercer International Inc. reports third quarter and nine months 2021 results and announces quarterly cash dividend of $0.065

Selected Highlights 

• Third quarter net income of $69.1 million and Record Operating EBITDA* of $148.1 million
• Start-Up of recently acquired cross-laminated timber facility in Spokane, Washington

NEW YORK, NY, October 28, 2021

Mercer International Inc. (Nasdaq: MERC) today reported third quarter 2021 Operating EBITDA increased to a record $148.1 million from $45.6 million in the third quarter of 2020 and from $83.8 million in the second quarter of 2021.  

In the third quarter of 2021, net income was $69.1 million (or $1.05 per basic share and $1.04 per diluted share) compared to $7.5 million (or $0.11 per share) in the third quarter of 2020 and $21.4 million (or $0.32 per share) in the second quarter of 2021.  

In the first nine months of 2021, Operating EBITDA increased to $313.9 million from $143.1 million in the same period of 2020. In the first nine months of 2021, net income was $96.5 million (or $1.46 per share) compared to a net loss of $4.3 million (or $0.06 per share) in the same period of 2020.  

Mr. David Gandossi, the Chief Executive Officer, stated: “In October, we started up our recently acquired cross laminated timber (“CLT”) manufacturing facility in Spokane, Washington and will be ramping up its production over the coming months. Our CLT facility has an annual production capacity of approximately 140,000 cubic meters of CLT, which represents about 30% of the current CLT manufacturing capacity in North America. We are excited about the potential of this business particularly as the benefits of this product, including environmental benefits, become more well known in the North American market. This business fits well with our core competencies, expands our product  mix and moves us further up the value chain.

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