Methanex (MEOH) Reports Q3 Loss of $0.01

October 26, 2016 6:04 PM EDT
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Methanex (NASDAQ: MEOH) reported Q3 adj. EPS of ($0.01), versus $0.26 reported last year. Revenue for the quarter came in at $2.48 million versus the consensus estimate of $2.09 million.

John Floren, President and CEO of Methanex commented, "Our third quarter Adjusted EBITDA reflects the impact of higher average realized methanol pricing along with higher sales of produced methanol compared to the second quarter. We achieved another company record this quarter with a 5% increase in sales to 2,476,000 tonnes. Sales of produced methanol was also a quarterly record of 1,860,000 tonnes. We continue to experience healthy global demand, and we estimate year-over-year demand growth at 10% as at September 30, 2016. A tighter supply/demand balance, combined with rising China thermal coal prices which pressured the cost of China production, contributed to improving methanol prices."

For earnings history and earnings-related data on Methanex (MEOH) click here.

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