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Mercer International Inc. (MERC) CEO David Gandossi on Q1 2020 Results - Earnings Call Transcript

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Mercer International Inc. (NASDAQ:MERC) Q1 2020 Earnings Conference Call May 1, 2020 10:00 AM ET

Company Participants

David Gandossi - President and CEO

David Ure - SVP, Finance and CFO

Conference Call Participants

Hamir Patel - CIBC Capital Markets

Sean Steuart - TD Securities

Marcus Campeau - RBC Capital Markets

Andrew Shapiro - Lawndale Capital Management

Andrew Kowski - Credit Suisse

Adam Zirkin - Knighthead

DeForest Hinman - Walthausen & Company

Austin Nelson - AIG


Good morning and welcome to Mercer International's First Quarter 2020 Earnings Conference Call. On the call today is David Gandossi, President and Chief Executive Officer of Mercer International; and David Ure, Senior Vice President, Finance Chief Financial Officer and Secretary.

I will now hand the call over to David Ure. You may begin sir.

David Ure

Good morning everyone. I'll begin by reviewing the first quarter's financial results. Following my remarks, I'll pass the call to David, who will comment on our response to the COVID-19 pandemic, key markets, operational performance, progress on our strategic initiatives, along with our outlook into the second quarter of 2020.

Please note that in this morning's conference call we will make forward-looking statements. And according to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, I'd like to call your attention to the risks related to these statements which are more fully described in our press release and in the company's filings with the Securities and Exchange Commission.

Our first quarter results were a significant improvement over last quarter, primarily due to the absence of the large annual scheduled maintenance activities that we completed in Q4. The COVID-19 pandemic impacted our results only marginally in the form of lower sales volumes early in the quarter due to logistics challenges in China. The pandemic did, however, significantly impact how we

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