Methanex Corp Stock Price, News & Analysis

Methanex reported Q4 2022 net income of $41 million, down from $69 million in Q3, largely due to reduced natural gas sale proceeds in Egypt. Adjusted EBITDA fell to $160 million, compared to $192 million in the previous quarter. Full-year net income was $354 million, down from $482 million in 2021. Production increased by 22% in Q4 2022 versus Q3. The Geismar 3 project is on track, with production expected in Q4 2023. The company returned $43 million to shareholders in Q4 and $297 million for the year, maintaining a strong liquidity of $858 million in cash and two undrawn credit facilities.

Methanex Corporation has announced a quarterly dividend of US$0.175 per share. The dividend is scheduled for payment on March 31, 2023, to shareholders on record as of March 17, 2023. As the world's largest producer and supplier of methanol, Methanex operates major markets and is notable for its strong financial position.

The company's shares trade on both the TSX under the symbol 'MX' and on the NASDAQ as 'MEOH'. For further details, investors can visit Methanex's website.

Methanex Corporation announced a landmark event on January 23, 2023, as the world's first methanol ferry, Stena Germanica, successfully completed ship-to-ship methanol bunkering at the Port of Gothenburg. This milestone showcases methanol's viability as a cleaner marine fuel, significantly reducing emissions compared to conventional fuels. Methanex's collaboration with Stena Line and the Port of Gothenburg reinforces their leadership in promoting methanol for sustainable shipping. The Port aims to establish itself as a bunkering hub for renewable methanol in Northern Europe, enhancing the fuel supply chain.

Methanex Corporation participated in the 26th Annual CIBC Western Institutional Investor Conference on January 19, 2023. President and CEO Rich Sumner engaged in a fireside chat during the event, highlighting Methanex's position as the world's largest supplier of methanol. Investors can access an audio replay of the session via the company's website. Methanex, based in Vancouver, trades on both the Toronto Stock Exchange as 'MX' and on NASDAQ as 'MEOH'.

Methanex Corporation (NASDAQ:MEOH) announced key executive appointments as Rich Sumner assumes the role of President and CEO on January 1, 2023. Dean Richardson has been promoted to CFO, while Kevin Maloney and Gustavo Parra take on senior vice president roles in Corporate Development and Manufacturing, respectively. Karine Delbarre will oversee Global Marketing & Logistics, and Mark Allard will lead Low Carbon Solutions. These changes reflect a succession plan aimed at a seamless transition and continued commitment to reliable methanol supply and shareholder returns.

Waterfront Shipping, a subsidiary of Methanex, has signed a time-charter agreement with Trafigura for the operation of the Mari Innovator tanker, enhancing efforts towards decarbonization in the marine shipping sector. This collaboration aims to promote methanol as a cleaner marine fuel, aligning with IMO emissions regulations, significantly reducing harmful pollutants. Waterfront Shipping operates the world’s largest methanol fleet, with 18 dual-fuel vessels, further underscoring its commitment to sustainable shipping.

Methanex (NASDAQ:MEOH), the largest global supplier of methanol, has pledged NZ$2 million to construct a new neonatal unit at Taranaki Base Hospital, New Zealand. This investment is part of a 10-year initiative aimed at improving care for vulnerable newborns and their families, with the new unit expected to be ready by 2025. Alongside government funding for essential services, the Taranaki Health Foundation aims to raise NZ$25 million for further enhancements to critical hospital services, highlighting Methanex's commitment to the local community and economic support.