Methanex Corp

MX

Equity

ISIN CA59151K1084 / Valor 693911

Toronto Stock Exchange (2024-12-24)

CAD 69.69+2.56%

Methanex Corp
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About company

Methanex Corp is the world's largest producer and supplier of methanol, serving major international markets across North America, Asia Pacific, Europe, and South America. The company prides itself on its Power of Agility®, which is exemplified by its global team of employees who work diligently to deliver on the company's brand promise. Methanex Corp's focus on methanol production and distribution sets it apart in the industry, making it a key player in the global market.

Summarized from source with an LLMView SourceSector: Industrials

Net Income

Methanex Corp reported net income attributable to Methanex shareholders of $35 million for the second quarter of 2024. This is a decrease from the $53 million reported in the first quarter of 2024. The decline in net income was primarily due to lower sales of Methanex-produced methanol and the negative impact of the mark-to-market portion of share-based compensation due to changes in Methanex’s share price.

Adjusted EBITDA

For the second quarter of 2024, Methanex Corp recorded Adjusted EBITDA of $164 million. This is a slight increase from the $160 million reported in the first quarter of 2024. The increase in Adjusted EBITDA was driven by a higher average realized price for methanol, despite the lower sales volume.

Sales Volume

Methanex Corp sold 2,612,000 tonnes of methanol in the second quarter of 2024, compared to 2,670,000 tonnes in the first quarter of 2024. Sales of Methanex-produced methanol were 1,580,000 tonnes in the second quarter, down from 1,681,000 tonnes in the first quarter of 2024.

Production

Production for Methanex Corp in the second quarter of 2024 was 1,422,000 tonnes, compared to 1,721,000 tonnes in the first quarter of 2024. The decrease in production was mainly due to lower production in Chile and New Zealand, which was partially offset by the completion of repairs and successful operation of the autothermal reformer at the Geismar 3 plant.

Dividends and Cash Position

In the second quarter of 2024, Methanex Corp returned $12.5 million to shareholders through regular dividends. The company ended the quarter with $426 million in cash, or approximately $390 million excluding non-controlling interests and including its share of cash in the Atlas joint venture. Additionally, Methanex has an undrawn $500 million revolving credit facility to provide further financial flexibility.

Summarized from source with an LLMView Source

Key figures

7.66%1Y

27.6%3Y

35.9%5Y

Performance

33.2%1Y

38.9%3Y

50.6%5Y

Volatility