季報
季度報告
10-Q
2026-08-06
美世國際第二季業績受紙漿價格低迷拖累 上半年10-Q出爐
AI 繁中摘要
Mercer International Inc.（納斯達克：MERC）公布截至2026年6月30日止第二季及上半年10-Q業績。受全球紙漿價格低迷、纖維成本
展開英文正文
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2026 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File No.: 000-51826 MERCER INTERNATIONAL INC. (Exact name of Registrant as specified in its charter) Washington 47-0956945 (State or other jurisdiction (I.R.S. Employer of incorporation or organization) Identification No.) Suite 1120, 700 West Pender Street, Vancouver, British Columbia, Canada, V6C 1G8 (Address of office) (604) 684-1099 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $1.00 per share MERC NASDAQ Global Select Market Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ NO ☐ Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☒ NO ☐ Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “non-accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer ☐ Accelerated filer ☒ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES ☐ NO ☒ The Registrant had 67,018,033 shares of common stock outstanding as of August 4, 2026. PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS MERCER INTERNATIONAL INC. INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2026 (Unaudited) FORM 10-Q QUARTERLY REPORT - PAGE 2 MERCER INTERNATIONAL INC. INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands of U.S. dollars, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenues $ 460,278 $ 453,524 $ 949,582 $ 960,498 Costs and expenses Cost of sales, excluding depreciation and amortization 449,798 444,047 902,783 874,294 Cost of sales depreciation and amortization 37,903 37,451 78,569 77,741 Selling, general and administrative expenses 31,551 30,430 60,096 60,134 Operating loss (58,974 ) (58,404 ) (91,866 ) (51,671 ) Other income (expenses) Interest expense (30,920 ) (28,411 ) (60,021 ) (56,566 ) Other income (expenses) 503 (1,120 ) 2,323 (1,305 ) Total other expenses, net (30,417 ) (29,531 ) (57,698 ) (57,871 ) Loss before income taxes (89,391 ) (87,935 ) (149,564 ) (109,542 ) Income tax recovery 13,413 1,864 21,590 1,132 Net loss $ (75,978 ) $ (86,071 ) $ (127,974 ) $ (108,410 ) Net loss per common share Basic $ (1.13 ) $ (1.29 ) $ (1.91 ) $ (1.62 ) Diluted $ (1.13 ) $ (1.29 ) $ (1.91 ) $ (1.62 ) Dividends declared per common share $ — $ 0.075 $ — $ 0.150 INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (In thousands of U.S. dollars) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net loss $ (75,978 ) $ (86,071 ) $ (127,974 ) $ (108,410 ) Other comprehensive income (loss) Loss related to defined benefit pension plans, net of tax (471 ) (269 ) (948 ) (531 ) Foreign currency translation adjustments (15,037 ) 99,249 (37,033 ) 133,586 Other comprehensive income (loss), net of tax (15,508 ) 98,980 (37,981 ) 133,055 Total comprehensive income (loss) $ (91,486 ) $ 12,909 $ (165,955 ) $ 24,645 See accompanying Notes to the Interim Consolidated Financial Statements. FORM 10-Q QUARTERLY REPORT - PAGE 3 MERCER INTERNATIONAL INC. INTERIM CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands of U.S. dollars, except share and per share data) June 30, 2026 December 31, 2025 ASSETS Current assets Cash and cash equivalents $ 78,775 $ 186,805 Restricted cash 5,000 — Accounts receivable, net 308,554 298,889 Inventories 375,301 359,401 Prepaid expenses and other 15,720 20,707 Total current assets 783,350 865,802 Property, plant and equipment, net 1,028,469 1,115,490 Amortizable intangible assets, net 24,335 26,110 Operating lease right-of-use assets 5,696 6,818 Pension asset 11,328 12,975 Deferred income tax assets 4,929 7,839 Other long-term assets 11,800 6,386 Total assets $ 1,869,907 $ 2,041,420 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities Accounts payable and other $ 270,496 $ 269,217 Pension and other post-retirement benefit obligations 718 745 Current debt 329,662 13,664 Total current liabilities 600,876 283,626 Long-term debt 1,305,711 1,605,144 Pension and other post-retirement benefit obligations 10,786 10,392 Operating lease liabilities 3,048 3,858 Deferred income tax liabilities 33,079 58,298 Other long-term liabilities 14,381 12,042 Total liabilities 1,967,881 1,973,360 Shareholders’ equity Common shares $1 par value; 200,000,000 authorized; 67,018,000 issued and outstanding (2025 – 66,983,000) 67,083 66,871 Additional paid-in capital 365,066 365,357 Accumulated deficit (404,990 ) (277,016 ) Accumulated other comprehensive loss (125,133 ) (87,152 ) Total shareholders’ equity (deficit) (97,974 ) 68,060 Total liabilities and shareholders’ equity $ 1,869,907 $ 2,041,420 Commitments and contingencies (Note 14) See accompanying Notes to the Interim Consolidated Financial Statements. FORM 10-Q QUARTERLY REPORT - PAGE 4 MERCER INTERNATIONAL INC. INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (DEFICIT) (Unaudited) (In thousands of U.S. dollars) Common shares Three Months Ended June 30: Number (thousands of shares) Amount, at Par Value Additional Paid-in Capital Retained Earnings (Accumulated Deficit)