Methanex (MEOH) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
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For the quarter ended June 2024, Methanex (MEOH) reported revenue of $920 million, down 2.1% over the same period last year. EPS came in at $0.62, compared to $0.60 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $986.38 million, representing a surprise of -6.73%. The company delivered an EPS surprise of +26.53%, with the consensus EPS estimate being $0.49.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Methanex performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Sales volume in tonnes - Methanex-produced methanol

    : 1,580 KTon versus the three-analyst average estimate of 1,647.1 KTon.

  • Sales volume in tonnes - Purchased methanol

    : 766 KTon compared to the 921.33 KTon average estimate based on three analysts.

  • Average realized methanol price ($/tonne)

    : 352 $/Ton compared to the 349.16 $/Ton average estimate based on three analysts.

  • Sales volume in tonnes - Total

    : 2,612 KTon compared to the 2,860.66 KTon average estimate based on three analysts.

  • Sales volume in tonnes - Commission sales

    : 266 KTon compared to the 292.23 KTon average estimate based on three analysts.

View all Key Company Metrics for Methanex here>>>

Shares of Methanex have returned -0.1% over the past month versus the Zacks S&P 500 composite's +0.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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