The NBSK net price in China declined to $601 per tonne, with North American NBSK list price averaging $1,568 per ton in the fourth quarter. European NBSK list price remained stable. Hardwood markets in China improved due to demand and fiber costs, while North America remained steady. Hardwood sales remained flat at $528 per ton.

Eucalyptus hardwood net price in the fourth quarter increased to $540 per ton in China. North American average list price remained flat at $1,198 per ton. Pulp sales volumes increased by 20,000 tons to 472,000 tons. Planned maintenance downtime affected production, but adjustments improved production volume. No planned maintenance downtime is expected in Q1 of 2026.

Pulp production remained stable at 460,000 tons in the fourth quarter. Adjustments for planned downtime showed improved production volume. Lumber pricing in the U.S. decreased slightly in Q4, while Europe had stable pricing. Lumber production decreased by about 6% in the fourth quarter. Electricity sales totaled 202 gigawatt hours with pricing remaining steady at $105 per megawatt hour.

Fiber costs remained steady in the fourth quarter for both pulp and solid wood segments. However, fiber costs are expected to increase in Canada and Germany in Q1 of 2026. Mass timber operations within the solid wood segment had higher revenues in Q4 compared to the previous quarter. The company continues to focus on cost reduction and operational efficiencies with the One Goal 100 program.

Read more at Yahoo Finance: Mercer (MERC) Q4 2025 Earnings Call Transcript