MEOH Stock Recent News

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Shares of Methanex Corp MEOH have been on a downtrend since the company announced it had inked a definitive agreement to buy OCI Global‘s international methanol business.

Canadian methanol producer Methanex said on Sunday it will acquire Dutch green fuel-maker OCI Global's methanol business in a $2.05 billion deal.

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Methanex (MEOH) has natural gas contracts in New Zealand until 2029 and remains committed to working with all parties involved to improve the country's structural energy balances.

VANCOUVER, British Columbia, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced today that it has entered into short-term commercial arrangements to provide its contracted natural gas into the New Zealand electricity market. As a result, it is temporarily idling its manufacturing operations in New Zealand until the end of October 2024. These commercial arrangements are expected to positively impact Methanex's Q3 and Q4 2024 earnings with after-tax proceeds expected to meaningfully exceed the margin lost on New Zealand methanol production delivered to customers. The commercial arrangements are structured to provide Methanex with a base price for each unit of gas delivered with further incremental value shared between the parties depending on electricity pricing over the period.

Methanex Corporation (NASDAQ:MEOH ) Q2 2024 Earnings Call Transcript July 31, 2024 11:00 AM ET Company Participants Sarah Herriott - Director of IR Rich Sumner - President and CEO Conference Call Participants Ben Isaacson - Scotiabank Mike Leithead - Barclays Capital James Cannon - UBS Joel Jackson - BMO Capital Markets Steve Hansen - Raymond James Hassan Ahmed - Alembic Global Nelson Ng - RBC Capital Markets Matthew Blair - TPH Laurence Alexander - Jefferies Charles Neivert - Piper Sandler Operator Good morning. My name is Aaron, and I will be your conference operator for today.

Lower sales volumes weigh on Methanex's (MEOH) top line in the second quarter.

While the top- and bottom-line numbers for Methanex (MEOH) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Methanex (MEOH) came out with quarterly earnings of $0.62 per share, beating the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.60 per share a year ago.