MEOH Stock Recent News

VANCOUVER, British Columbia, June 04, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced today that its 1.26 million tonne Egypt methanol production facility (Methanex 50% equity interest of 0.63 million tonnes per annum) was temporarily idled this morning as lower gas supply and increased seasonal demand for power generation has led to gas curtailments to industrial plants. Methanex is working closely with its partner and gas supplier to resume gas supply.

Methanex (MEOH) reported earnings 30 days ago. What's next for the stock?

Methanex Corporation (NASDAQ:MEOH ) Q1 2024 Earnings Conference Call April 25, 2024 11:00 AM ET Company Participants Sarah Herriott - Director, Investor Relations Rich Sumner - President & Chief Executive Officer Conference Call Participants Joshua Spector - UBS Joel Jackson - BMO Capital Markets Hassan Ahmed - Alembic Global Steve Hansen - Raymond James Matthew Blair - TPH Nelson Ng - RBC Capital Markets Operator Good morning. My name is Kathleen and I will be your conference operator today.

Adjusted EBITDA of Methanex (MEOH) is hurt by lower year-over-year average realized prices in Q1.

Although the revenue and EPS for Methanex (MEOH) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Methanex (MEOH) came out with quarterly earnings of $0.65 per share, beating the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $1.11 per share a year ago.

Methanex's (MEOH) robust operational performance and progress on strategic projects like Geismar 3 continue to push its shares to new highs.

Methanex (MEOH) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Methanex (MEOH) estimates that the total capital cost will not considerably exceed the higher end of the $1.3 billion capital cost guidance.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.