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How Mercer International (MERC) makes money

Mercer International (MERC) made $441M of revenue in the third quarter 2026 (Q3 2026), -4% from a year earlier. Pulp brought in $281M (64%); Lumber brought in $68.0M (15%); Energyandchemicals brought in $34.2M (8%).

Drawing the Sankey…

Mercer International revenue by segment, Q3 2026Mercer International revenue by segment, Q3 2026Pulp$281MLumber$68.0MEnergyandchemicals$34.2MPallets$21.9MManufactured Products$18.7MBiofuels$12.2MWood Residuals$4.6M
Mercer International: revenue by line, Q1 2025 to Q3 2026Mercer International: revenue by line, Q1 2025 to Q3 2026PulpLumberEnergyandchemicalsPalletsManufactured ProductsBiofuelsWood ResidualsPulp: $281M latest$281MLumber: $68.0M latest$68.0MEnergyandchemicals: $34.2M latestPallets: $21.9M latestManufactured Products: $18.7M latestBiofuels: $12.2M latestWood Residuals: $4.6M latestQ1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Pulp went from 70% of revenue in Q1 2025 to 64% in Q3 2026, the largest shift in the mix.
Mercer International revenue by quarterMercer International revenue by quarter$507MQ1 2025$454MQ2 2025$458MQ3 2025$450MQ4 2025$489MQ1 2026$460MQ2 2026$441MQ3 2026

Revenue by segment, Q3 2026

SegmentRevenueShareQ/QY/Y
Pulp$281M63.8%-7%-12%
Lumber$68.0M15.4%+20%+12%
Energyandchemicals$34.2M7.8%+22%+31%
Pallets$21.9M5.0%-31%-18%
Manufactured Products$18.7M4.2%-28%+54%
Biofuels$12.2M2.8%+13%+19%
Wood Residuals$4.6M1.0%+21%+38%

Where each dollar of revenue goes

LineQ3 2026% of revenue
Revenue$441M100.0%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 2026$441M-4%
Q2 2026$460M+2%
Q1 2026$489M-4%
Q4 2025$450M-8%
Q3 2025$458M-9%
Q2 2025$454M-9%
Q1 2025$507M-8%

From Mercer International's 10-Q filed Nov 5, 2026 (on EDGAR).

Questions

How does Mercer International make money?

Mercer International (MERC) made $441M of revenue in the third quarter 2026 (Q3 2026), -4% from a year earlier. Pulp brought in $281M (64%); Lumber brought in $68.0M (15%); Energyandchemicals brought in $34.2M (8%).

What is Mercer International's biggest business?

Pulp: $281M in the third quarter 2026, 64% of revenue, -12% from a year earlier.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.