Q1 25 EPS
$-0.33
MISS 78.19%
Est. $-0.19
Q1 25 Revenue
$507.0M
BEAT +0.30%
Est. $505.5M
vs S&P Since Q1 25
-114.9%
TRAILING MARKET
MERC -84.2% vs S&P +30.7%
Market Reaction
Did MERC Beat Earnings? Q1 2025 Results
Mercer International delivered a bruising first quarter, posting a loss of $0.33 per share that missed the $0.19 consensus estimate by 78.19%, even as revenue of $506.97 million edged fractionally ahead of expectations. The headline earnings shortfal… Read more Mercer International delivered a bruising first quarter, posting a loss of $0.33 per share that missed the $0.19 consensus estimate by 78.19%, even as revenue of $506.97 million edged fractionally ahead of expectations. The headline earnings shortfall was driven almost entirely by 22 days of planned maintenance downtime at the company's Celgar mill, which pulled roughly 29,700 ADMTs out of production and pushed pulp sales volumes down approximately 16% year-over-year to 477,879 ADMTs, pressuring total revenue to a decline of 8.4% from the prior-year period. Operating EBITDA slid to $47.09 million from $63.60 million a year ago, underscoring how heavily the production disruption weighed on margins. Broader sector weakness compounded the picture, with multiple forestry peers also reporting losses and curtailments in the quarter. Looking ahead, management flagged another 21 days of mill downtime in Q2 while pursuing $100 million in cost reductions by end of 2026, and cautioned that trade policy uncertainty is beginning to affect customer buying patterns in key markets.
Key Takeaways
- • Higher NBSK pulp sales realizations increased approximately 7% YoY to $783 per ADMT
- • Lower NBHK pulp sales realizations decreased approximately 10% YoY to $570 per ADMT due to weaker China pricing
- • 22 days of planned annual maintenance downtime at Celgar mill reduced production by approximately 29,700 ADMTs
- • Stronger dollar positively impacted Canadian dollar and euro denominated costs and expenses
- • Total pulp sales volumes declined approximately 16% YoY to 477,879 ADMTs
- • Lumber sales realizations increased approximately 8% to $499 per Mfbm on lower supply and steady demand
- • Lumber sales volumes increased approximately 8% to 130.9 MMfbm
- • Per unit fiber costs for lumber production increased approximately 12% YoY due to strong demand
- • Dissolution of CPP joint venture in Q1 2024 reduced comparable production base
MERC YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
MERC Revenue by Segment
With YoY comparisons, source: SEC Filings
“There was continued strength in pulp markets and an improving lumber pricing environment in the first quarter of 2025. However, our operating results in the quarter were negatively impacted by annual planned maintenance downtime at our Celgar mill and the impact of the weaker dollar against the euro.”
— Juan Carlos Bueno, Q1 2025 Earnings Press Release
MERC Earnings Trends
MERC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MERC EPS Trend
Earnings per share: estimate vs actual
MERC Revenue Trend
Quarterly revenue: estimate vs actual
MERC Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.79 | $-0.78 | +1.10% | $489.3M | -0.72% |
| Q4 25 MISS FY | $-0.87 | $-4.61 | -430.62% | $449.5M | -1.57% |
| FY Full Year | $-3.70 | $-7.44 | -101.21% | $1.87B | -0.86% |
| Q3 25 MISS | $-0.92 | $-1.21 | -31.84% | $458.1M | -0.36% |
| Q2 25 MISS | $-0.96 | $-1.29 | -34.85% | $453.5M | -4.86% |
| Q1 25 MISS | $-0.19 | $-0.33 | -78.19% | $507.0M | +0.30% |