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Methanex is a mid-cap producer and supplier of methanol with a strong presence in major international markets. Good governance, a low-cost structure, and a staggered maturity schedule of fixed rate debt positions the company well. Prospect of uncertain methanol supply and demand outlook for the near future.
Methanex (MEOH) now expects production to restart toward the end of the first quarter of 2024.
Methanex Corporation (NASDAQ:MEOH ) Q3 2023 Earnings Conference Call October 26, 2023 11:00 AM ET Company Participants Sarah Herriott - Director-Investor Relations Rich Sumner - President and Chief Executive Officer Conference Call Participants Ben Isaacson - Scotiabank Joel Jackson - BMO Capital Markets Steve Hansen - Raymond James Hassan Ahmed - Alembic Global Matthew Blair - Tudor, Pickering, Holt Josh Spector - UBS Kevin Estok - Jefferies Operator Good morning. My name is Julie Ann and I'll be your conference operator today.
Production of Methanex (MEOH) in Q3 totals 1,545,000 tons, up around 23.4% year over year.
While the top- and bottom-line numbers for Methanex (MEOH) give a sense of how the business performed in the quarter ended September 2023, 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 $0.02 per share, beating the Zacks Consensus Estimate of a loss of $0.08 per share. This compares to earnings of $0.69 per share a year ago.
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.
As the 20-year natural gas agreement ends in September 2024, Methanex (MEOH) said it plans to shut down the Atlas methanol facility.
Methanex (MEOH) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
The headline numbers for Methanex (MEOH) give insight into how the company performed in the quarter ended June 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.