Methanex Reports Higher First Quarter 2024 Earnings as Methanol Prices Increase [Financial Post (Toronto, Ontario, Canada)]
Methanex Corporation (MEOH)
Last methanex corporation earnings: 1/29 05:01 pm
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Source: Financial Post
Except where otherwise noted, all currency amounts are stated in United States dollars. Net income attributable to Methanex shareholders of $53 million and Adjusted EBITDA of $160 million in the first quarter. Our average realized price in the first quarter was $343 per tonne compared to $322 per tonne in the fourth quarter of 2023. Work is progressing to safely repair the Geismar 3 (“G3”) plant and we believe that the plant is on track to start up in the third quarter of 2024. Repair costs are expected to be $15 million and the total capital cost for the project is expected to remain at approximately $1.30 billion. The remaining capital cost of $70 million is fully funded with cash on hand. The operating cost impact of the delay is approximately $5 million per month and in the first quarter delay costs were approximately $25 million due to take-or-pay on utilities contracts, the organization build-up of fixed costs, and the accounting recognition of over-hedged gas costs. These
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News
- Did Methanex Corporation Mislead Investors? Shareholder Rights Advocates at Levi & Korsinsky Investigate – MEOHAccesswire
- Methanex Corporation (NASDAQ:MEOH) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Methanex Co. (NASDAQ: MEOH) had its price target raised by analysts at Scotiabank from $54.00 to $58.00. They now have a "sector outperform" rating on the stock.MarketBeat
- Methanex Co. (NASDAQ: MEOH) had its price target raised by analysts at Royal Bank of Canada from $45.00 to $50.00. They now have a "sector perform" rating on the stock.MarketBeat
- Methanex Reports on Annual General Meeting of Shareholders and Welcomes Roger Perreault to Its Board of Directors [Yahoo! Finance]Yahoo! Finance
MEOH
Earnings
- 4/24/24 - Beat
MEOH
Sec Filings
- 4/25/24 - Form 6-K
- 4/25/24 - Form 6-K
- 4/24/24 - Form 6-K
- MEOH's page on the SEC website