Core Insights - Methanex Corporation reported a revenue decline of approximately 2.1% year over year, totaling $920 million, which fell short of the Zacks Consensus Estimate of $986.4 million [1] - The company achieved adjusted earnings of 62 cents per share, surpassing the Zacks Consensus Estimate of 49 cents, and an increase from 60 cents in the prior-year quarter [7] - Adjusted EBITDA rose by 2.5% year over year to $164 million [9] Operational Highlights - The average realized price for methanol was $352 per ton, reflecting a 4.1% increase from $338 in the prior-year quarter and exceeding the estimate of $346 per ton [2] - Production totaled 1,422,000 tons, down approximately 14.2% year over year, and below the estimate of 1,648,000 tons [10] - Total sales volume in the second quarter was 2,612,000 tons, lower than the prior year's figure of 2,782,000 tons and missing the estimate of 2,853,000 tons [10] Financials - Cash and cash equivalents increased by 4.7% from the prior quarter to $426.1 million [3] - Long-term debt remained stable at $1,821.5 million at the end of the quarter [3] - Cash flow from operating activities was $163 million, down around 16.8% year over year, with $12.5 million returned to shareholders in regular dividends [11] Outlook - For the third quarter, the company anticipates decreased earnings due to lower production from Chile and New Zealand, as well as G3 accumulating inventory [4] - The posted pricing for July and August indicates an average realized price range of $350 to $360 per ton for these months [4] Price Performance - Shares of Methanex have gained 3.7% over the past year, contrasting with an 11.5% decline in the industry [13]

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 ...

Company Performance - Methanex reported quarterly earnings of $0.62 per share, exceeding the Zacks Consensus Estimate of $0.49 per share, and showing an increase from $0.60 per share a year ago [1] - The company posted revenues of $920 million for the quarter ended June 2024, which was 6.73% below the Zacks Consensus Estimate and a decrease from $939.37 million year-over-year [10] - Methanex has surpassed consensus EPS estimates in four out of the last four quarters [3] Market Comparison - Methanex shares have increased by approximately 0.4% since the beginning of the year, while the S&P 500 has gained 14.5% [4] - The current consensus EPS estimate for the upcoming quarter is $0.33 on revenues of $964.35 million, and for the current fiscal year, it is $2.22 on revenues of $3.95 billion [6] Earnings Outlook - The trend for estimate revisions for Methanex is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [12] - The outlook for the chemical industry, particularly the Chemical - Diversified sector, is currently in the bottom 8% of Zacks industries, which may impact Methanex's stock performance [13]

The operating capacity of our production facilities may be higher or lower than original nameplate capacity as, over time, these figures have been adjusted to reflect ongoing operating efficiencies at these facilities. Actual production for a facility in any given year may be higher or lower than operating capacity due to a number of factors, including natural gas availability, feedstock composition, the age of the facility's catalyst, turnarounds and access to CO2 from external suppliers for certain facili ...

VANCOUVER, British Columbia, July 30, 2024 (GLOBE NEWSWIRE) -- For the second quarter of 2024, Methanex (TSX:MX) (NASDAQ:MEOH) reported net income attributable to Methanex shareholders of $35 million ($0.52 net income per common share on a diluted basis) compared to net income of $53 million ($0.77 net income per common share on a diluted basis) in the first quarter of 2024. Net income in the second quarter of 2024 was lower compared to the prior quarter primarily due to lower sales of Methanex-produced met ...

Methanex is a Vancouver-based, publicly traded company and is one of the world's largest producers and suppliers of methanol to major international markets. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX" and on the NASDAQ Global Select Market in the United States under the trading symbol "MEOH". Methanex can be visited online at www.methanex.com. VANCOUVER, British Columbia, July 18, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (the "Company" or ...

Methanex Corporation (MEOH) and Entropy Inc., a leader in carbon capture and storage solutions, have agreed to invest in a preliminary front-end engineering and design study for carbon capture, utilization and sequestration (CCUS) deployment at its Medicine Hat, AB facility. This partnership will use Entropy's proprietary modular post-combustion carbon capture technology and Methanex's manufacturing skills to utilize some of the captured CO2 to produce additional methanol, demonstrating the leadership of tw ...

Key Project Highlights: The Pre-FEED will also evaluate the economic viability of the project including access to pore space, carbon offtake agreements, municipal alignment, and funding from both Provincial and Federal carbon reduction programs. "We are pleased to be collaborating with Methanex, a global leader with Canadian roots, on this groundbreaking CCUS project," said Mike Belenkie, President and CEO of Entropy. "Our CCS technology is designed to reduce carbon emissions to the atmosphere as economical ...

Key Project Highlights: "We're excited to advance this first-of-its-kind carbon capture solution in North America in collaboration with Entropy," said Mark Allard, Senior Vice President, Low Carbon Solutions ("LCS"), Methanex. "This project exemplifies Methanex's commitment to reduce our global GHG emission intensity by 10% by 2030 and to advance at least one LCS project into Pre-FEED in 2024." Methanex and Entropy are committed to collaborating with stakeholders throughout the project's lifecycle to ensure ...

Inquiries: Sarah Herriott Director, Investor Relations Methanex Corporation 604-661-2600 or Toll Free: 1-800-661-8851 www.methanex.com VANCOUVER, British Columbia, June 04, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced today that its 1.26 million tonne Egypt methanol production facility (Methanex 50% equity interest of 0.63 million tonnes per annum) was temporarily idled this morning as lower gas supply and increased seasonal demand for power generation has led to gas curtai ...