Last10K.com

Mercer International Inc. (MERC) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Mercer International Inc.

CIK: 1333274 Ticker: MERC

EXHIBIT 99.1

 

LOGO

For Immediate Release

MERCER INTERNATIONAL INC. REPORTS STRONG 2018 SECOND QUARTER

RESULTS AND ANNOUNCES QUARTERLY CASH DIVIDEND OF $0.125

Selected Highlights

 

   

Major Annual Maintenance totaling 37 days (55,400 ADMTs) completed at Celgar and Stendal mills

 

   

Strong pulp and lumber price realizations in the quarter

 

   

Second Quarter Net Income of $16.8 million ($0.26 per share) and Operating EBITDA* of $60.5 million.

NEW YORK, NY, July 26, 2018

- Mercer International Inc. (Nasdaq: MERC) today reported strong results for the second quarter ended June 30, 2018 due to higher pulp and lumber sales realizations. Operating EBITDA in the current quarter was $60.5 million compared to $39.5 million in the second quarter of 2017 and $99.4 million in the first quarter of 2018.

For the second quarter of 2018, net income was $16.8 million, or $0.26 per share, compared to a net loss of $2.1 million, or $0.03 per share, for the second quarter of 2017 and $25.6 million, or $0.39 per share, in the prior quarter of 2018.

Summary Financial Highlights

 

     Q2
2018
    Q1
2018
    Q2
2017
    YTD
2018
    YTD
2017
 
     (in millions, except per share amounts)  

Pulp segment revenues

   $             291.6     $             314.2     $             265.9     $             605.9     $             508.7  

Wood products segment revenues

     54.9       53.7       17.3       108.6       17.3  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total revenues

   $ 346.5     $ 367.9     $ 283.2     $ 714.4     $ 526.0  

Pulp segment operating income

   $ 37.0     $ 74.1     $ 21.1 (1)    $ 111.0     $ 63.4 (1) 

Wood products segment operating income

     4.3       3.0       0.1       7.3       0.1  

Corporate and other operating loss

     (3.8     (1.0     (2.3     (4.8     (3.3
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total operating income

   $ 37.5     $ 76.0     $ 18.9     $ 113.5     $ 60.2  

Pulp segment depreciation and amortization

   $ 21.1     $ 21.5     $ 19.4     $ 42.7     $ 38.5  

Wood products segment depreciation and amortization

     1.8       1.7       1.1       3.5       1.1  

Corporate and other depreciation and amortization

     0.1       0.1       0.1       0.2       0.2  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total depreciation and amortization

   $ 23.0     $ 23.3     $ 20.6     $ 46.3     $ 39.8  

Operating EBITDA(*)

   $ 60.5     $ 99.4     $ 39.5 (1)    $ 159.9     $ 100.1 (1) 

Loss on settlement of debt

   $ -     $ 21.5 (2)    $ -     $ 21.5 (2)    $ 10.7 (3) 

Legal cost award

   $ -     $ 7.0     $ -     $ 7.0     $ -  

Provision for income taxes

   $ 8.5     $ 9.6     $ 7.8     $ 18.0     $ 15.3  

Net income (loss)

   $ 16.8     $ 25.6     $ (2.1   $ 42.4     $ 7.6  

Net income (loss) per common share

          

Basic and diluted

   $ 0.26     $ 0.39     $ (0.03   $ 0.65     $ 0.12  

Common shares outstanding at period end

     65.2       65.2       65.0       65.2       65.0  

 

(1) Adjusted as a result of our adoption of Accounting Standards Update 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-Retirement Benefit Cost, in the current year. See Note 1 to our Interim Consolidated Financial Statements.
(2) Redemption of 7.75% senior notes due 2022 (the “2022 Senior Notes”).
(3) Redemption of 7.00% senior notes due 2019.

 

*Operating EBITDA is not a measure of financial performance under accounting principles generally accepted in the United States (“GAAP”) and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. See page 4 of the financial tables included in this press release for a reconciliation of net income (loss) to Operating EBITDA.


The following information was filed by Mercer International Inc. (MERC) on Thursday, July 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Mercer International Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Mercer International Inc..

Continue

Assess how Mercer International Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Mercer International Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
M & A
Other
Filter Subcategory:
All
Earnings
Geography
Cash Flow
Expense
Product
Debt
Income
Shares
Other
Inside Mercer International Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Interim Consolidated Balance Sheets
Interim Consolidated Balance Sheets (Parenthetical)
Interim Consolidated Statements Of Cash Flows
Interim Consolidated Statements Of Comprehensive Income
Interim Consolidated Statements Of Comprehensive Income (Parenthetical)
Interim Consolidated Statements Of Operations
Accounts Payable And Other
Accounts Payable And Other (Details)
Accounts Payable And Other (Tables)
Business Segment Information
Business Segment Information (Narrative) (Details)
Business Segment Information (Schedule Of Results By Segment) (Details)
Business Segment Information (Tables)
Commitments And Contingencies
Commitments And Contingencies Commitments And Contingencies Legal Settlement (Details)
Debt
Debt (Principal Maturities Of Debt) (Details)
Debt (Schedule Of Debt Footnotes) (Details)
Debt (Schedule Of Debt) (Details)
Debt (Tables)
Financial Instruments And Fair Value Measurement
Financial Instruments And Fair Value Measurement (Details)
Financial Instruments And Fair Value Measurement (Tables)
Financial Instruments And Fair Value Measurement Financial Instruments And Fair Value Measurement (Details)
Income Taxes
Income Taxes (Reconciliation Of Effective Tax Rate) (Details)
Income Taxes (Tables)
Income Taxes Income Taxes (Narrative) (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Net Income Per Common Share
Net Income Per Common Share (Details)
Net Income Per Common Share (Tables)
Net Income Per Share Attributable To Common Shareholders (Anti-Dilutive Instruments) (Details)
Pension And Other Post-Retirement Benefit Obligations
Pension And Other Post-Retirement Benefit Obligations (Plan Information) (Details)
Pension And Other Post-Retirement Benefit Obligations (Tables)
Pension And Other Post-Retirement Benefit Obligations Pension And Other Post-Retirement Benefit Obligations (Narrative) (Details)
Shareholders' Equity
Shareholders' Equity (Narrative) (Details)
Shareholders' Equity (Summary Of Dividends Declared) (Details)
Shareholders' Equity (Summary Of Share Activity - Psu's) (Details)
Shareholders' Equity (Summary Of Share Activity - Restricted Shares) (Details)
Shareholders' Equity (Tables)
Shareholders' Equity Shareholders' Equity (Accumulated Other Comprehensive Income) (Details)
Subsequent Events
Subsequent Events (Details)
The Company And Summary Of Significant Accounting Policies
The Company And Summary Of Significant Accounting Policies (Details)
The Company And Summary Of Significant Accounting Policies (Policy)

Material Contracts, Statements, Certifications & more

Mercer International Inc. provided additional information to their SEC Filing as exhibits

Ticker: MERC
CIK: 1333274
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-18-307788
Submitted to the SEC: Thu Oct 25 2018 12:45:46 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Pulp Mills

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/merc/0001193125-18-307788.htm