Methanex's (MEOH) Q2 Earnings Beat Estimates, Sales Miss

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$338 in the prior-year quarter. The figure was above our estimate of $346 per ton. Cash and cash equivalents rose 4.7$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 ...