---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-269754"
form_type: "8-K"
ticker: "MERC"
cik: "0001333274"
company_name: "MERCER INTERNATIONAL INC."
filed_at: "2025-11-06T23:59:59+00:00"
generated_at: "2026-05-16T23:28:10.409241+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Mercer International reports Q3 2025 net loss of $80.8M; Operating EBITDA negative $28.1M

## Summary
- Operating EBITDA negative $28.1M vs positive $50.5M in Q3 2024; net loss $80.8M ($1.21/share) vs $17.6M prior.
- Pulp segment EBITDA -$12.7M vs +$54.6M a year ago; NBSK realizations -11% to $728/ADMT; NBHK -16% to $528/ADMT.
- Solid wood segment EBITDA worsened to negative $9.3M from negative $1.9M; manufactured products revenue down 66% to $12.2M.
- One Goal One Hundred program targets $100M savings by end 2026; $30M expected by end 2025. Carbon capture pilot at Peace River mill in Q4.
- Liquidity $376.1M ($98.1M cash plus $278M revolver); management plans additional cost cuts and lower 2026 capex.

## SEC filing metadata
- accession: 0001193125-25-269754
- form_type: 8-K
- ticker: MERC
- cik: 0001333274
- company_name: MERCER INTERNATIONAL INC.
- filed_at: 2025-11-06T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1333274/000119312525269754/0001193125-25-269754-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1333274/000119312525269754/merc-20251106.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-269754
- JSON: https://secwatch.observer/filing/0001193125-25-269754.json
- Plain text: https://secwatch.observer/filing/0001193125-25-269754.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.