Mercer International Inc. Reports Third Quarter 2026 Results
Key Highlights
- ➤$1.275 billion senior notes addressed through restructuring support agreements
- ➤$400 million fully backstopped new capital planned via senior secured notes
- ➤Q3 Operating EBITDA improved to negative $2.9 million from negative $28.1 million
- ➤Q3 net loss narrowed to $59.2 million from $80.8 million year over year
- ➤$151 million mass timber order book anchored by data center projects
Expert Statements
Juan Carlos Bueno, Chief Executive Officer of Mercer International Inc.
“As announced on November 2, 2026, we entered into restructuring support agreements with holders of more than 87% of the aggregate outstanding principal amount of our senior notes and with holders of a majority of the outstanding shares of our common stock that provide for a comprehensive recapitalization of the company (the "Recapitalization").”
Juan Carlos Bueno, Chief Executive Officer of Mercer International Inc.
“The transaction provides for, among other things, the exchange of approximately $1.1 billion of existing senior notes for equity, eliminates approximately $96 million of annual cash interest on our senior notes and provides for $400 million of new capital through a fully-backstopped rights offering of senior secured notes.”
Juan Carlos Bueno, Chief Executive Officer of Mercer International Inc.
“The Recapitalization is expected to significantly reduce our debt, extend our maturity runway and provide substantial new liquidity.”
Juan Carlos Bueno, Chief Executive Officer of Mercer International Inc.
“This transaction is a decisive step forward and a result of constructive negotiations with key stakeholder groups.”
Juan Carlos Bueno, Chief Executive Officer of Mercer International Inc.
“Our operations will continue in the ordinary course with no impact on customers, suppliers and employees.”
Juan Carlos Bueno, Chief Executive Officer of Mercer International Inc.
“Market and industry-wide pressures continue to persist as we enter the fourth quarter of 2026.”
Juan Carlos Bueno, Chief Executive Officer of Mercer International Inc.
“With the support of the majority of our noteholders and shareholders, we are putting in place a much stronger balance sheet.”
Juan Carlos Bueno, Chief Executive Officer of Mercer International Inc.
“The Recapitalization is a key step in achieving necessary deleveraging to position us toward long-term stability and growth as market conditions improve in the future.”
* As announced on November 2, 2026, we entered into restructuring support agreements with significant support from noteholders and shareholders to, among other things, effectuate a balance sheet restructuring which will address $1.275 billion of our outstanding senior notes and provide for $400 million of fully backstopped new capital to position Mercer for long-term success. Our operating subsidiaries will continue to operate their businesses with no impact on customers, suppliers and employees * Third quarter Operating EBITDA* improved to negative $2.9 million (net loss of $59.2 million), including a non-cash inventory impairment of $8.0 million, from negative $28.1 million (net loss of $80.8 million) in the same quarter of 2025 * Secured a total of approximately $26.5 million in grants and repayable contributions for the Peace River mill to improve productivity and modernize the mill amid industry headwinds * Continued efforts to improve our balance sheet and optimize working capital. "One Goal One Hundred" program remains on track to achieve $100 million of cost savings and operational efficiencies by year end, with cost savings of $22.0 million in third quarter and a total of approximately $76.0 million to date since launch in April 2025 NEW YORK, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Mercer International Inc. (Nasdaq: MERC) today reported third quarter 2026 Operating EBITDA of negative $2.9 million, an improvement from negative $28.1 million in the same quarter of 2025 and negative $21.0 million in the second quarter of 2026.
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