- Strong first quarter net income of $51.6 million ($0.78 per diluted share)
- Record quarterly Operating EBITDA* of $123.8 million
NEW YORK, May 02, 2019 -- Mercer International Inc. (Nasdaq: MERC) today reported first quarter 2019 Operating EBITDA increased to a record $123.8 million from $99.4 million in the first quarter of 2018 and $118.1 million in the fourth quarter of 2018.
For the first quarter of 2019, net income increased to $51.6 million, or $0.79 per basic share and $0.78 per diluted share, from $25.6 million, or $0.39 per share, in the first quarter of 2018 and $45.0 million, or $0.69 per basic share and $0.68 per diluted share, in the fourth quarter of 2018.
Mr. David M. Gandossi, the Chief Executive Officer, stated: "Our record first quarter results reflect overall strong operating performance and cost discipline at our mills, generally steady demand and the inclusion of a full quarter of results of Mercer Peace River Pulp Ltd. ("MPR") acquired in December 2018.
Pulp pricing was generally softer quarter over quarter, however, there was some modest price improvements late in the current quarter resulting from better paper producer demand.
As I have mentioned previously, the acquisition of MPR has materially increased our production, revenues and scope of operations. Our recent acquisitions highlight the benefits of our value creation strategy of delivering sustainable profitable growth by leveraging our core competencies to complement our world class assets. Our integration of MPR is proceeding well and according to plan."
Source: Mercer International