Methanex Corp Stock Price, News & Analysis

Methanex (TSX:MX) (Nasdaq:MEOH) has released its 2024 Sustainability Report, highlighting the company's progress on key sustainability initiatives. CEO Rich Sumner proudly announced their best-ever safety performance in 2024, placing Methanex in the top ten percent for safety among American Chemistry Council's Responsible Care members.

The report details how Methanex protects and develops its people, minimizes environmental impact, and contributes to communities. As the world's largest producer and supplier of methanol, the company emphasizes its role in providing an essential product that improves everyday life while offering solutions for a sustainable future.

Methanex is headquartered in Vancouver and trades on both the Toronto Stock Exchange (MX) and Nasdaq (MEOH). The full 2024 Sustainability Report is available on their website.

Methanex (NASDAQ:MEOH) has announced its latest quarterly dividend declaration. The Board of Directors has declared a quarterly dividend of US$0.185 per share, which will be paid on March 31, 2025, to shareholders of record as of March 17, 2025.

Methanex, based in Vancouver, holds a significant position as one of the world's largest producers and suppliers of methanol to major international markets. The company's shares are dual-listed on the Toronto Stock Exchange under the symbol 'MX' and on the NASDAQ Global Select Market under 'MEOH'.

Methanex (MEOH) reported Q4 2024 financial results with net income of $45 million ($0.67 per share) and Adjusted EBITDA of $224 million, up from Q3's net income of $31 million. The average realized price increased to $370 per tonne from $356 in Q3 2024.

Q4 production reached 1,868,000 tonnes, significantly higher than Q3's 1,347,000 tonnes, driven by increased output from Chile, New Zealand, Geismar, and Egypt. For full-year 2024, the company reported net income of $164 million and Adjusted EBITDA of $764 million.

The company completed its financing plan for the OCI Global's international methanol business acquisition, including a $650 million Term Loan A and $600 million bond issuance. Methanex ended 2024 with $892 million in cash and returned $50 million to shareholders through regular dividends while repaying a $300 million bond.

Methanex has announced that its subsidiary, Methanex US Operations, has priced an offering of US$600 million in senior unsecured notes due 2032, with a 6.250% interest rate. The offering, upsized from the initially planned US$500 million, will be issued at 99.289% of principal amount with a 6.375% effective yield. The notes will be guaranteed by Methanex and are expected to close around November 22, 2024. The proceeds will partially fund the previously announced OCI Global's international methanol business acquisition. The notes include a special mandatory redemption clause if the acquisition fails to complete by May 31, 2026.

Methanex (TSX:MX) (NASDAQ:MEOH) has announced a quarterly dividend declaration of US$0.185 per share. The dividend will be paid on December 31, 2024, to shareholders who hold common shares as of the record date December 17, 2024.

Methanex 's subsidiary, Methanex US Operations Inc., has launched a US$500 million senior unsecured notes offering due 2032. The notes will be guaranteed by Methanex and the proceeds will partially fund the previously announced OCI Global's international methanol business acquisition. The notes include a special mandatory redemption clause if the OCI Acquisition isn't completed by May 31, 2026, or if Methanex announces it won't proceed. The offering is to qualified institutional buyers in the US under Rule 144A, non-U.S. persons under Regulation S, and through private placement in Canada.

Methanex (MEOH) reported Q3 2024 net income of $31 million ($0.35 per share) and Adjusted EBITDA of $216 million. Average realized price was $356 per tonne, up from $352 in Q2. The company announced a $2.05 billion acquisition of OCI Global's international methanol business. Geismar 3 plant achieved full operational rates in October, producing 154,000 tonnes monthly. In New Zealand, one Motunui plant was indefinitely idled, resulting in a $90 million non-cash impairment. The company extended gas contracts in Chile with ENAP and YPF until 2030 and 2027, respectively. Cash position ended at $511 million, with $12.5 million returned to shareholders through dividends.

Methanex (TSX:MX, NASDAQ:MEOH) has successfully syndicated acquisition financing for its previously announced $2.05 billion acquisition of OCI Global's international methanol business. The financing package includes up to $650 million in Term Loan A commitments with variable interest rates and flexible repayment terms, and a $600 million revolving credit facility split between a $400 million five-year tranche and a $200 million three-year tranche. The syndication banks continue to underwrite the remaining $525 million bridge facility. The new facilities will replace the company's existing $500 million facility and include consistent financial covenants.

Methanex (TSX:MX) (NASDAQ:MEOH) has announced a $2.05 billion acquisition of OCI Global's international methanol business. The deal includes two world-scale methanol facilities in Beaumont, Texas, a low-carbon methanol production and marketing business, and an idled facility in the Netherlands. This strategic move is expected to increase Methanex's global methanol production by over 20% and be immediately accretive to free cash flow per share.

The transaction involves $1.15 billion in cash, 9.9 million Methanex common shares valued at $450 million, and the assumption of $450 million in debt and leases. OCI will hold a 13% ownership stake in Methanex post-acquisition. The deal is anticipated to close in the first half of 2025, subject to regulatory approvals and shareholder consent.