Methanex (MEOH) Tops Q3 EPS by 66c ; Provides Outlook

Methanex (NASDAQ: MEOH) reported Q3 EPS of $1.21, $0.66 better than the analyst estimate of $0.55. Revenue for the quarter came in at $935 million versus the consensus estimate of $855.85 million.

Outlook

Our expected production guidance for Q4 2024 is approximately 1.9 million tonnes (Methanex interest) which will be sold through in the fourth quarter of 2024 and the first quarter of 2025 as produced sales normalize to the increased production. Actual production may vary by quarter based on gas availability in Chile and New Zealand, turnarounds, other gas availability, unplanned outages and unanticipated events.

In the fourth quarter, we expect similar Adjusted EBITDA compared to the third quarter, with higher produced sales and a higher average realized price offset by lower New Zealand gas sales and no contribution from Egypt insurance recovery in the fourth quarter. Based on our October and November posted prices we expect that our average realized price range will be between approximately $365 to $375 per tonne for these two months.

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

You May Also Be Interested In

• 'Ocean of opportunity': Wolfe initiates SpaceX at Buy ahead of historic IPO
• XORTX to voluntarily delist from TSX Venture Exchange
• 22nd Century Group files prospectus for warrant share resale