Company Performance - Methanex (MEOH) has gained approximately 24% year-to-date, outperforming the average return of 23.6% for Basic Materials companies [4] - The Zacks Consensus Estimate for Methanex's full-year earnings has increased by 0.5% over the past quarter, indicating improved analyst sentiment and a stronger earnings outlook [3] Industry Context - Methanex is part of the Chemical - Diversified industry, which consists of 29 companies and currently ranks 213 in the Zacks Industry Rank. This industry has seen an average gain of about 27.5% year-to-date, suggesting that Methanex is slightly underperforming its industry peers [5] - The Basic Materials group, which includes Methanex, is ranked 1 within the Zacks Sector Rank, indicating strong overall performance compared to other sectors [2]

Core Insights - Methanex Corporation (MEOH), Exolum, and Orsted have launched the UK's first commercially ready biomethanol storage and supply service at the Port of Immingham, aiming to decarbonize the maritime sector despite delays in the International Maritime Organization's Net Zero Framework [1][3] Group 1: Collaboration Details - Exolum will provide storage and fueling infrastructure at its Immingham facility, while Methanex will supply the biomethanol, and Orsted will be the first to utilize the fuel for its North Sea offshore wind farm maintenance vessels [2] - This initiative exemplifies how existing energy infrastructure can be adapted to support sustainable fuels, showcasing the partners' commitment to low-carbon operations [2] Group 2: Environmental Impact - The launch is significant as it targets emissions in maritime operations, with domestic shipping contributing 4.7% of the UK's transport-related CO2 emissions, surpassing emissions from buses, trains, and domestic aviation combined [3][6] Group 3: Stock Performance - MEOH's stock has increased by 4.7% over the past year, contrasting with a 13.3% decline in the industry [3]

Core Viewpoint - The launch of the U.K.'s first commercially ready biomethanol storage and supply service for shipping at the Port of Immingham represents a significant step towards decarbonizing maritime transport, despite recent delays in the International Maritime Organization's Net Zero Framework vote [1][2]. Group 1: Project Overview - The initiative involves Exolum, Methanex Corporation, and Ørsted, aiming to provide marine bunkering services for biomethanol, a leading green fuel for decarbonizing shipping [3]. - Exolum will manage the storage and fuelling infrastructure at its Immingham facility, while Methanex will supply the biomethanol [3]. - Ørsted will be the first to utilize this service for its North Sea offshore wind farm maintenance vessels, aligning with the U.K.'s clean energy goals [3]. Group 2: Industry Impact - Domestic shipping in the U.K. accounts for 4.7% of transport-related CO₂ emissions, surpassing emissions from buses, trains, and domestic aviation combined, highlighting the importance of this project in addressing emissions challenges [5]. - The initiative demonstrates how existing energy infrastructure can be adapted to support sustainable fuels, showcasing a commitment to accelerating the maritime sector's transition to low-carbon operations [4]. Group 3: Company Contributions - Exolum emphasizes its role in facilitating the green transition through its energy logistics and strategic infrastructure [6]. - Methanex, as the world's largest producer and supplier of methanol, is dedicated to supporting innovative solutions for low-carbon shipping [7]. - Ørsted's involvement reflects its commitment to sustainable operations and the development of technologies that contribute to the broader decarbonization of the maritime sector [6].

1. Report Industry Investment Rating No information about the industry investment rating is provided in the report. 2. Core Viewpoints - The report anticipates that methanol prices will fluctuate this week, with MA2605 expected to trade between 2,210 - 2,280 yuan/ton. The domestic methanol market is likely to experience range - bound fluctuations, with the inland market entering a pre - holiday rest period and the port market facing an uncertain geopolitical situation and unchanged fundamental weakness [4]. 3. Summary According to Relevant Catalogs 3.1 Daily Tips - The domestic methanol market is expected to range - bound fluctuate this week. The inland market is in a pre - holiday rest period, with reduced terminal demand and sufficient supply. The port market is expected to bottom - range fluctuate before the holiday, and it is recommended to reduce risk exposure. The report also suggests observing whether and when US President Trump will launch a real military operation against Iran [4]. 3.2 Long and Short Concerns Long Factors - Some plants have shut down, such as Yulin Kaiyue and Xinjiang Xinya. - Methanol production in Iran has decreased, and port inventories are at a low level. - A 600,000 - ton/year acetic acid plant in Jingmen started production on May 16, and a 600,000 - ton/year acetic acid plant in Xinjiang Zhonghe Hezhong is planned to be put into production in late May. - Northwest CTO plants are purchasing methanol externally [6]. Short Factors - Some previously shut - down plants have resumed production, such as Inner Mongolia Donghua. - There is a concentrated arrival of ships at the port in the second half of the month. - Formaldehyde has entered the traditional off - season, and MTBE operating rates have declined significantly. - Coal - based methanol has a certain profit margin and is actively selling. - Some plants in the production area have accumulated inventories due to poor sales [7]. 3.3 Fundamental Data Price Data - Spot market: The price of thermal coal in the Bohai Rim region remained unchanged at 682 yuan/ton, and the price of methanol in various regions showed different trends. For example, the price in Jiangsu decreased by 2.78% to 2,207 yuan/ton, while the price in Inner Mongolia increased by 1.12% to 1,805 yuan/ton. - Futures market: The closing price of the main contract increased by 19 yuan/ton to 2,244 yuan/ton. - Spread structure: The basis of Jiangsu methanol was - 37 yuan/ton, indicating that the spot price was at a discount to the futures price. The import spread decreased by 35 yuan/ton [8]. Inventory Data - As of February 5, 2026, the total social inventory of methanol in the East and South China ports was 961,400 tons, a decrease of 32,400 tons from the previous period. The total available methanol in the coastal areas decreased by 35,500 tons to 463,900 tons [4]. Operating Rate Data - The weighted average operating rate across the country decreased by 3.81% to 74.90%. The operating rates in Shandong, Southwest, and Northwest regions also decreased [8]. 3.4 Maintenance Status Domestic Plants - Many domestic methanol plants are under maintenance, including Shaanxi Black Cat, Qinghai Zhonghao, and others. The maintenance periods vary, and some are still undetermined [57]. Overseas Plants - Some overseas methanol plants are in the process of restarting or have normal operations, while some are under maintenance. For example, some plants in Iran are in the process of restarting, and QAFAC in Qatar is under maintenance from the end of February to March 16 [58]. Olefin Plants - Some olefin plants are under maintenance or have normal operations. For example, Shaanxi Qingcheng Clean Energy's methanol and olefin plants are under maintenance from March 15 for about 45 days, while some plants in Northwest and other regions are operating normally [59].

Core Insights - The article emphasizes the importance of reassessing investment portfolios in light of ongoing market influences such as AI optimism, Federal Reserve policies, and geopolitical uncertainties [1] Sales Growth as an Indicator - Sales growth is highlighted as a more reliable metric for evaluating stocks compared to earnings, as it reflects real demand for products and services [2][3] - Companies with consistent top-line expansion are likely gaining market share and expanding their customer base, which can indicate future earnings potential [3] Contextual Importance of Sales Figures - It is crucial to benchmark sales growth against peers and industry cycles to differentiate between sustainable growth and temporary spikes [4] - Companies that can maintain growth across various conditions tend to generate more reliable cash flows, allowing for reinvestment and strategic initiatives [4] Stock Selection Criteria - Stocks are shortlisted based on criteria including 5-Year Historical Sales Growth greater than industry average and Cash Flow exceeding $500 million [5] - Additional metrics for stock selection include a Price-to-Sales (P/S) Ratio lower than the industry average, positive sales estimate revisions, operating margin above 5%, and Return on Equity (ROE) greater than 5% [6][7][8] Specific Company Insights - Universal Health Services (UHS) is expected to achieve a sales growth rate of 5.2% in 2026 and currently holds a Zacks Rank of 2 [9][10][11] - Pinnacle West Capital (PNW) is forecasted to have a sales growth rate of 4.6% in 2026, also holding a Zacks Rank of 2 [11] - Methanex Corporation (MEOH) is projected to see a sales increase of 9.8% in 2026 and carries a Zacks Rank of 2 [12]

Core Insights - Methanex Corporation has appointed Don Marchand to its Board of Directors, effective December 1, 2025 [1][4] Company Overview - Methanex is the world's largest supplier of methanol and is publicly traded on the Toronto Stock Exchange under the symbol "MX" and on the Nasdaq under "MEOH" [5] Leadership Background - Don Marchand has nearly four decades of experience in finance and energy infrastructure, having held significant roles at TC Energy, including Executive Vice President and Chief Financial Officer from 2010 to 2021 [2] - Marchand holds a Bachelor of Commerce from the University of Manitoba and is a Chartered Accountant and Chartered Financial Analyst [3]

Report Industry Investment Rating - Not provided in the given content Core Viewpoints - The report anticipates that the methanol price will mainly experience weak and volatile trends this week. The MA2601 contract is expected to trade between 2000 - 2080 yuan/ton. The mainland market is likely to remain in a stalemate, while the port market may show a bottom - strong oscillation, waiting for a rebound opportunity [5]. Summary by Directory 1. Daily Prompt - The fundamental situation of methanol shows that demand lacks highlights and supply pressure persists. The mainland market is expected to be in a stalemate, and the port market may oscillate strongly at the bottom. The spot price in Jiangsu is 2070 yuan/ton, with a basis of 15 for the 01 contract, indicating that the spot price is higher than the futures price. As of November 13, 2025, the total social inventory of methanol in East and South China ports was 127.90 million tons, with an increase of 1.29 million tons from the previous period. The overall available and tradable methanol in coastal areas decreased by 3.97 million tons to 76.59 million tons. The 20 - day line is downward, and the price is below the moving average. The main positions are net short, with an increase in short positions [5]. 2. Multi - and Short - term Concerns - **Likely Positive Factors**: Some plants have stopped production, such as Yulin Kaiyue and Xinjiang Xinya; the methanol production in Iran has decreased, and the port inventory is at a low level; a 600,000 - ton/year acetic acid plant in Jingmen has started production, and a 600,000 - ton/year acetic acid plant in Xinjiang Zhonghe Hezhong is planned to be put into production this month; CTO plants in the northwest are purchasing methanol externally [6]. - **Likely Negative Factors**: Some previously shut - down plants have resumed production, such as Inner Mongolia Donghua; there is expected to be a concentrated arrival of ships at the port in the second half of the month; formaldehyde has entered the traditional off - season, and the MTBE operating rate has significantly declined; coal - based methanol has a certain profit margin and is currently actively selling; due to poor sales, the inventory of some plants in the production areas has accumulated [7]. 3. Fundamental Data - **Price Data**: In the spot market, the price of methanol in various regions has changed. For example, the price in Jiangsu decreased by 2.06% to 2047 yuan/ton, and in Inner Mongolia, it decreased by 1.00% to 1980 yuan/ton. In the futures market, the closing price of the main contract decreased by 2.70% to 2055 yuan/ton. The basis, import spread, and price differences between regions have also changed [8][9]. - **Inventory Data**: As of November 13, 2025, the total social inventory of methanol in East and South China ports was 127.90 million tons, with an increase of 1.29 million tons from the previous period. The overall available and tradable methanol in coastal areas decreased by 3.97 million tons to 76.59 million tons [5]. - **Operating Rate Data**: The weighted average operating rate of methanol nationwide decreased by 3.81% to 74.90%. The operating rates in Shandong, Southwest, and Northwest regions also decreased [8]. - **Profit Data**: The profits of different methanol production processes vary. The profit of coal - based methanol decreased by 24 yuan/ton, the profit of natural - gas - based methanol remained unchanged, and the profit of coke - oven - gas - based methanol increased by 3 yuan/ton [20]. 4. Maintenance Status - **Domestic Plants**: Many domestic methanol plants are under maintenance, including Shaanxi Black Cat, Qinghai Zhonghao, etc. The maintenance periods and losses vary by plant [56]. - **Overseas Plants**: Some overseas methanol plants, especially those in Iran, are in the process of restarting or have uncertain operating conditions. For example, ZPC in Iran has heard to have one unit restored, but it needs verification [57]. - **Olefin Plants**: Some olefin plants with supporting methanol production are under maintenance or have different operating conditions. For example, Shaanxi Qingcheng Clean Energy's methanol and olefin plants stopped for maintenance on March 15, expected to last for 45 days [58].

Methanex Corporation 2025 Investor Day Summary Company Overview - **Company**: Methanex Corporation - **Event**: 2025 Investor Day - **Date**: November 13, 2025 - **Location**: Toronto, Canada Key Industry Insights - **Methanol Market Dynamics**: The methanol market is described as "quietly constructive" due to existing supply constraints and no new methanol plants being built, leading to a tighter market in the next three to five years [20][21][22] - **Demand Forecast**: The demand for methanol is projected to be moderated, with significant contributions from China, which has an annualized demand of approximately 60 million tonnes, while total global demand is around 100 million tonnes [28][29][30] - **Supply Constraints**: Current methanol capacity is around 160 million tonnes, but effective capacity is estimated to be closer to 110 million tonnes due to mothballed plants and structural constraints [40][41][42] - **Pricing Outlook**: Short-term pricing will be influenced by the marginal cost of production, with expectations of a gradual rebalancing in the market over the next few years [44][46] Company Strategy and Performance - **Acquisition of OCI**: The acquisition of OCI's methanol business is highlighted as a transformative opportunity, providing access to North American assets with abundant gas supply at a lower cost than brownfield reinvestment [16][17] - **North American Production Capacity**: Methanex has built a significant production capacity of 6.7 million metric tonnes in North America, accounting for 65% of its global capacity and 75% of its earnings [54][78] - **Gas Supply Outlook**: The company is confident in the long-term availability of low-cost gas in North America, supported by a large resource base and ongoing productivity improvements in shale gas production [60][62][64] Financial and Operational Highlights - **Cash Flow Generation**: The focus on free cash flow generation is emphasized, with plans for disciplined capital allocation and deleveraging to strengthen the balance sheet [15][46] - **Global Supply Chain**: Methanex's global supply chain is positioned to enhance its leadership in the industry, with a strong emphasis on integrating newly acquired assets [18][19] Regional Insights - **Chile and Egypt**: Both regions are expected to benefit from upstream activity, with Chile's production increasing significantly due to developments in the Vaca Muerta formation in Argentina [70][72] - **New Zealand and Trinidad**: These regions face challenges due to declining gas supplies and mature basins, but Trinidad has potential for future production increases through cross-border developments with Venezuela [75][77] Conclusion - **Future Outlook**: Methanex is well-positioned for future growth with a strong North American asset base, a constructive methanol market, and ongoing efforts to enhance operational efficiency and cash flow generation [78]

Financial Data and Key Metrics Changes - The average realized price for methanol in Q3 2025 was $345 per ton, with produced methanol sales of approximately 1.9 million tons, generating adjusted EBITDA of $191 million and adjusted net income of $0.06 per share [5][11] - Adjusted EBITDA increased compared to Q2 2025 primarily due to higher sales of produced product, despite a lower average realized price [5] Business Line Data and Key Metrics Changes - The fully owned Beaumont plant and the 50% owned NAT Gasoline plant produced a combined 482,000 tons of methanol and 92,000 tons of ammonia during Q3 2025 [5] - Methanex production in Q3 was higher compared to Q2, with full contributions from new assets and higher production from Geismar, Medicine Hat, and New Zealand [8] Market Data and Key Metrics Changes - Global methanol demand was relatively flat in Q3 compared to Q2, with methanol to olefins demand in China operating at high rates, reaching approximately 90% by the end of the quarter [6][7] - The fourth quarter European quarterly price for methanol was €535 per ton, a €5 increase from Q3, while North America, Asia Pacific, and China prices for November were posted at $802, $360, and $340 per ton respectively [7] Company Strategy and Development Direction - The company is focused on safely and reliably operating its business and executing its integration plan following the acquisition of new assets [10] - Capital allocation priorities include directing all free cash flow to deleveraging in the near term, with no significant growth capital anticipated over the next few years [11][32] Management's Comments on Operating Environment and Future Outlook - Management expects a meaningful increase in adjusted EBITDA in Q4 2025 compared to Q3, driven by higher sales levels closer to run-rate equity production [11] - The company is optimistic about the methanol market, indicating that supply continues to be constrained and that they are not concerned about placing additional tons in the market [28] Other Important Information - The company has an expected equity production guidance for 2025 of approximately 8 million tons, consisting of 7.8 million equity tons of methanol and 0.2 million tons of ammonia [10] - The integration plan for newly acquired assets is structured over 18 months, focusing on realizing expected benefits from the acquisition [5][33] Q&A Session Summary Question: Relationship with NGC and gas allocation in Trinidad - The company has a contract with NGC for port fees and is in discussions regarding gas availability, with tight gas markets expected to persist [14][15] Question: Recontracting of OCI book - The company increased sales by about 350,000 tons from Q2 to Q3 and is in discussions for recontracting for next year [16][17] Question: Impact of accounting treatment on Q3 EBITDA - The main earnings difference is attributed to a delta of 500,000 to 600,000 tons versus Q3, which is expected to improve in Q4 [20][21] Question: Methanol sales distribution - A large percentage of contracted business is expected to be in North America and Europe, with a diversified customer base [26][27] Question: Global industry utilization rates and demand - Industry operating rates are high, with effective utilization much higher than reported due to idled capacity and geopolitical issues [40][41] Question: Gas purchasing strategy for new assets - The company is currently hedged at around 70% for North American exposure and is opportunistically entering the market for future gas purchases [46][47]

Core Insights - Methanex reported quarterly earnings of $0.06 per share, significantly missing the Zacks Consensus Estimate of $0.51 per share, and down from $1.21 per share a year ago, representing an earnings surprise of -88.24% [1] - The company posted revenues of $927 million for the quarter ended September 2025, which was 4.83% below the Zacks Consensus Estimate and a decrease from $935 million year-over-year [2] - Methanex shares have declined approximately 30.9% year-to-date, contrasting with the S&P 500's gain of 17.2% [3] Earnings Outlook - The future performance of Methanex's stock will largely depend on management's commentary during the earnings call and the revisions of earnings estimates [3][4] - The current consensus EPS estimate for the upcoming quarter is $0.88 on revenues of $1.07 billion, while for the current fiscal year, the estimate is $3.66 on revenues of $3.73 billion [7] Industry Context - The Chemical - Diversified industry, to which Methanex belongs, is currently ranked in the bottom 7% of over 250 Zacks industries, indicating a challenging environment [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Methanex's stock performance [5][6]