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MEOH-News
MEOH-Events
Methanex Approves Buyback of 3,868,213 Common Shares
Methanex has approved a normal course issuer bid, or NCIB, whereby the company will be entitled to purchase for cancellation up to 3,868,213 common shares, representing 5% of the 77,364,263 shares issued and outstanding as of October 29. Purchases under the NCIB may commence on November 4, 2026 and end no later than November 3, 2027. Any purchases will be made from time to time at the then current market price of the shares and all shares purchased under the NCIB will be cancelled. Daily repurchases under the program through the NASDAQ and alternative trading systems in the U.S. will not exceed 25% of the company's average daily trading volume for the four-week period preceding the date of purchase.
Q3 Revenue Reaches $1.39B, Exceeds Expectations
Reports Q3 revenue $1.39B, consensus $1.3B. Produced 2,143,000 tons of methanol in Q3, with record North American production. CEO Rich Sumner said, "The Middle East conflict's dramatic impact on the methanol industry persisted through the third quarter, with the significant loss of industry supply supporting ongoing pricing strength. Our enhanced asset base continued to run well, particularly in North America, helping to drive another quarter of strong Adjusted EBITDA and cash flow. We remain focused on operating our assets and supply chain safely and reliably as we continue to navigate dynamic conditions."
Methanex Projects 2026 Production of 9.0M Tons Methanol, 0.3M Ammonia
Methanex sees 2026 production 9.0M tons methanol, 0.3M ammonia
Methanex to Idle New Zealand Gas Facilities in 2027
Methanex announced that it has entered into an agreement to sell substantially all of its New Zealand natural gas contractual entitlements commencing in the first quarter of 2027 and continuing through the end of the decade when such entitlements expire. Given the continued decline in domestic natural gas availability and the lack of a clear pathway to meaningful new supply, Methanex has determined that continued operations in New Zealand are not sustainable and as such has taken steps to optimize value from its remaining New Zealand gas position. As a result of this agreement, the Company expects to indefinitely idle its New Zealand production facilities during the first quarter of 2027 and will work closely with employees, contractors, suppliers, customers and government stakeholders during this transition period. Rich Sumner, President and CEO, Methanex Corporation, stated, "Our New Zealand production facilities have operated for more than four decades and our people have made significant contributions to the Company's global operations and the New Zealand energy sector. However, we have also been preparing for the eventuality of this day given the declining gas availability in the country. For several years we have actively contributed to managing New Zealand's declining gas environment by matching our operating rates to available supply and, when appropriate, selling gas into the New Zealand energy markets. We are now focused on supporting our team members during this transition period, safely operating the plant over the next several months and then safely idling and preserving the facility for long-term optionality should future circumstances support a restart of operations." Methanex does not expect to incur material cash costs as a result of this decision and any required updates to production or financial guidance will be released with Methanex's ongoing quarterly financial communications.
Company Reports Q2 Revenue of $1.395B, Below Consensus
Reports Q2 revenue $1.395B, consensus $1.45B.
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