Except where otherwise noted, all currency amounts are stated in United States dollars. Financial and Production Highlights Net income attributable to Methanex shareholders of $31 million and Adjusted EBITDA of $216 million in the third quarter. Our average realized price in the third quarter was $356 per tonne compared to $352 per tonne in the second quarter of 2024.Announced the signing of a definitive agreement to acquire OCI Global's international methanol business for approximately $2.05 billion, inclu ...

VANCOUVER, British Columbia, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) (“Company”) announced today the successful syndication of acquisition financing to support the earlier announced agreement to acquire OCI Global’s international methanol business (“OCI Acquisition”) for $2.05 billion. The new financing arrangements are with a syndicate of highly rated financial institutions and include: Up to $650 million in Term Loan A commitments which can be drawn upon closing of th ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Methanex (MEOH) . This company, which is in the Zacks Chemical - Diversified industry, shows potential for another earnings beat.When looking at the last two reports, this methanol supplier has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 71.60%, on average, in the last two qua ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are und ...

Credit Agreement and Financial Management - Methanex Corporation has entered into an amended and restated credit agreement dated April 24, 2024, with Royal Bank of Canada as the agent bank[7] - The credit facility includes provisions for advances denominated in US Dollars and Canadian Dollars, with specific types of advances defined[10] - The agreement is a continuation of a series of amendments to the original credit agreement established on July 31, 2009, indicating a long-term financial strategy[7] - The applicable margin for each type of accommodation will be determined by the agent bank, ensuring flexibility in financial management[11] - The credit agreement allows for voluntary and mandatory prepayments, providing Methanex with options for managing its debt[2] - The agreement includes conditions for closing and general conditions for accommodations, ensuring compliance and risk management[4] - The credit facility is supported by a syndicate of lenders, enhancing the company's financial stability and access to capital[7] - The agreement outlines specific interest rate elections, allowing Methanex to optimize its borrowing costs[10] - The credit facility is part of Methanex's broader strategy to maintain liquidity and support operational needs[7] - The agreement includes provisions for letters of credit, facilitating trade and operational financing[5] Financial Performance and Projections - Methanex Corporation's consolidated net income is reported in accordance with GAAP, reflecting accurate financial performance[44] - The company reported a total revenue of $1.5 billion for the last financial quarter, representing a 15% increase year-over-year[24] - User data showed an increase in active users to 10 million, up from 8 million in the previous quarter, marking a 25% growth[25] - The company provided guidance for the next quarter, expecting revenue to be between $1.6 billion and $1.7 billion, indicating a potential growth of 7% to 13%[26] - New product launches are anticipated to contribute an additional $200 million in revenue over the next year[27] - The company is investing $50 million in research and development for new technologies aimed at enhancing user experience[28] - Market expansion plans include entering three new countries by the end of the fiscal year, projected to increase market share by 5%[29] Debt Management and Financial Ratios - The funded debt ratio stands at 30%, indicating a stable financial position relative to total capitalization[31] - The interest coverage ratio is reported at 4.5, suggesting strong earnings relative to interest expenses[32] - The company has maintained a cash reserve of $150 million, ensuring liquidity for operational needs and strategic investments[33] - The company reported a significant increase in net interest expense, totaling $40 million for the period, reflecting a rise in borrowing costs[114] - The company’s debt includes obligations for borrowed money, deferred purchase prices, and capitalized amounts under financial leases[20] Project and Asset Management - The company reported a cumulative after-tax non-cash long-term asset revaluation of up to $125 million since January 1, 2011[18] - The after-tax impact of relocating up to three plants from Chile to Louisiana includes cumulative non-cash long-term asset write-downs of up to $25 million per plant[18] - The company has incurred cumulative plant decommissioning and dismantling costs of up to $35 million per plant for the relocated plants, not eligible for capitalization under GAAP[18] - The Egypt Project has a capacity of 1.3 million tonnes per year and commenced commercial operations in 2011[22] - The company has a 50% interest in the Egypt Project through a Non-Recourse Subsidiary[22] Compliance and Regulatory Matters - The company is subject to Environmental Laws that may affect its operations and compliance requirements[22] - The company is committed to ensuring compliance with all applicable tax regulations and obligations[161] - The Borrower and all Restricted Subsidiaries are in compliance with all Environmental Laws, with no outstanding liabilities that would have a Material Adverse Effect[131] - The Borrower possesses all material Permits required to conduct its business, with no failure to obtain any such Permit that would have a Material Adverse Effect[132] - The Borrower has filed all required Tax returns and paid all due Taxes, except those being contested in good faith[132] Risk Management and Financial Strategy - The company is actively managing its obligations, with a focus on maintaining liquidity and minimizing financial risk[122] - The current financial agreements include provisions for potential changes in market conditions, ensuring flexibility in operations[124] - The overall financial health of the company is supported by a robust cash flow generation strategy, particularly from its operations in Atlas and Egypt[128] - The company has established a framework for permitted liens, allowing for operational efficiency while safeguarding assets[129] Credit Facility Terms and Conditions - The Borrower confirms that all existing Credit Facility Documents will remain in full force and effect despite amendments and restatements[55] - The 2023 ARCA includes continuing accommodations under Tranche A, maintaining the same nature and lender relationships[56] - The interest rate on accommodations may be derived from a benchmark that could be discontinued, with provisions for determining an alternative rate[57] - The Borrower must ensure the accuracy of facts in any certificate delivered as a condition for actions taken by the Agent Bank or Lenders[53] - The Borrower must maintain minimum corporate credit ratings of at least BBB-/Ba1 or BB+/Baa3 for the release of the Medicine Hat Security[70] Events of Default and Remedies - An Event of Default occurs if the Borrower fails to pay principal or interest within specified grace periods, including one Business Day for principal and ten Business Days for interest[158] - A Cross Default event occurs if any Debt exceeding US$50 million results in the creditor declaring the principal due and payable[159] - The Borrower is subject to automatic cancellation of obligations and acceleration of payments upon certain Events of Default, particularly under sections 10.1(h) or (i)[161] - The Borrower must ensure that the assets of any Restricted Subsidiary do not exceed 5% of the consolidated total assets to avoid triggering an Event of Default[163] Miscellaneous Provisions - The agreement is governed by the laws of the Province of British Columbia and Canada[192] - The Borrower cannot assign its rights or obligations without prior consent from all Lenders[193] - The confidentiality of information provided by the Borrower is emphasized, with specific conditions for disclosure[198] - The Borrower waives its rights to a trial by jury to the fullest extent permitted by law[192]

Methanex Corporation (MEOH) stated that it has entered into short-term commercial arrangements to deliver its contractual natural gas into the New Zealand electricity market. As a result, it will temporarily idle its manufacturing operations in New Zealand until October 2024. These commercial arrangements are likely to have a positive impact on Methanex's earnings in the third and fourth quarters of 2024, with after-tax profits expected to significantly exceed the margin lost on New Zealand methanol product ...

VANCOUVER, British Columbia, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced today that it has entered into short-term commercial arrangements to provide its contracted natural gas into the New Zealand electricity market. As a result, it is temporarily idling its manufacturing operations in New Zealand until the end of October 2024. These commercial arrangements are expected to positively impact Methanex's Q3 and Q4 2024 earnings with after-tax proceeds expected to me ...

Revenues declined around 2.1% year over year to $920 million in the quarter. The top line also missed the Zacks Consensus Estimate of $986.4 million. Operational Highlights The average realized price for methanol was $352 per ton, up roughly 4.1% from $338 in the prior-year quarter. The figure was above our estimate of $346 per ton. Cash and cash equivalents rose 4.7% from the prior quarter to $426.1 million at the end of the second quarter. Long-term debt at the end of the quarter was $1,821.5 million, sta ...

For the quarter ended June 2024, Methanex (MEOH) reported revenue of $920 million, down 2.1% over the same period last year. EPS came in at $0.62, compared to $0.60 in the year-ago quarter. Here is how Methanex performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Shares of Methanex have returned -0.1% over the past month versus the Zacks S&P 500 composite's +0.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it ...

Methanex (MEOH) came out with quarterly earnings of $0.62 per share, beating the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.60 per share a year ago. These figures are adjusted for nonrecurring items. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Over the last four quarters, the company has surpassed consensus EPS estimates ...