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Methanex: 1Q Earnings Snapshot

Methanex: 1Q Earnings Snapshot

Associated Press

VANCOUVER, British Columbia (AP) _ Methanex Corp. (MEOH) on Wednesday reported first-quarter profit of $38 million.

On a per-share basis, the Vancouver, British Columbia-based company said it had net income of 50 cents. Earnings, adjusted for non-recurring costs, came to 73 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.

The methanol supplier posted revenue of $733 million in the period.

Methanex shares have climbed 19 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $57.39, a decline of 13 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MEOH at https://www.zacks.com/ap/MEOH