Mercer International Inc. reported a net loss of $26.0 million for the third quarter of 2023, an improvement from the previous quarter but lower than the same quarter of the previous year. The company's Operating EBITDA was $37.5 million, also an improvement from the previous quarter but lower than the previous year. The company saw strong growth in its mass timber business and enhanced its liquidity through a senior note issue and expansion of its credit facility.
Third quarter Operating EBITDA of $37.5 million and net loss of $26.0 million.
Continued strong growth and integration of our mass timber business.
Enhanced liquidity by completing $200 million 2028 senior note issue and expanding availability under German revolving credit facility by €70 million.
Quarterly cash dividend of $0.075 per share.
Although year to date, the pulp and lumber markets have been soft, we are now seeing some improvements, including modestly higher pulp pricing across all our markets and lower costs, particular for fiber. Our team has demonstrated resilience by focusing on the variables we can control such as reducing our inventories and capital spending, and cutting discretionary spending to ensure our cash and liquidity levels continue to be healthy. As a result of our strong liquidity, we are well positioned to continue to execute our strategic plan through this business cycle, while maintaining a strong focus on lowering costs and liquidity.
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