Q: Your comments on Methanex’s earning please
5i Research Answer:
MX profit fell 42% on lower prices and production, but EPS was still well ahead of estimates, at 65c vs 32c consensus. Sales were $916M, vs $792M estimates. It did lower 2024 estimated production by 7M tonnes, citing start-up delays at Geismar. Revenue fell 12%. EBITDA of $160M fell 23%. Average prices were $343/tonne, down 7.5%. Investors will not like the guidance on production, but the 'beat' was substantial so it is not all bad. Very strong earnings growth is still expected over the next year.