Methanex (MEOH) Tops Q1 EPS by 5c

Methanex (NASDAQ: MEOH) reported Q1 EPS of $0.10, $0.05 better than the analyst estimate of $0.05. Revenue for the quarter came in at $745 million versus the consensus estimate of $716.15 million.

Outlook:

We expect methanol demand to be lower in the second quarter compared to the first quarter due to the impact of COVID-19 and a low oil price environment. It is not possible to accurately predict the degree of the impact at this stage as the full extent and duration of the COVID-19 pandemic and low oil price environment is uncertain.

Mr. Floren, President and CEO of Methanex, concluded, “We anticipate that the coming months will be challenging and expect the negative impact of COVID-19 and low oil prices will be significant in the second quarter of 2020. As a result, we expect our financial results in the second quarter will be lower than the first quarter. We remain focused on operating our plants safely and reliably, delivering secure and reliable supply to our customers and protecting our balance sheet during this very uncertain time.”

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

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