Methanex (MEOH) Q2 Earnings Surpass Estimates

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]