FINWIRES · TerminalLIVE
FINWIRES

Methanex Q1 Adjusted Profit Falls 74%, Misses Estimates Despite Higher Revenue

By

Methanex (MX.TO, MEOH) edged down 0.5% in after-hour Nasdaq trade Wednesday as it reported a 74% year-over-year drop in adjusted net income despite higher revenue, with results missing analysts' estimates.

The methanol producer posted adjusted net income, excluding most one-time items, of US$23 million, or US$0.30 per share, down from US$88 million, or US$1.30, a year earlier. The result fell short of FactSet's consensus analyst estimate of US$0.40 per share.

Revenue for the quarter ended March 31 rose 8.7% year over year to US$974 million from US$896 million, but US986.6 million missed FactSet analysts' estimate.

Adjusted EBITDA was US$220 million, compared with US$186 million in the fourth quarter of 2025.

In its outlook, the company reiterated its expectations for 2026 production to be 9.- million tonnes (Methanex interest) of methanol and 0.3 million tonnes of ammonia.

"Based on our April and May posted prices, we expect that our average realized price range will be approximately (US)$500 to (US)$525 per tonne for these two months. Based on a higher realized price and similar sales of produced methanol, we are expecting significantly higher Adjusted EBITDA in the second quarter," Methanex said.

"This quarter saw the continuation of safe and reliable operations across our portfolio, including at the recently acquired assets in Beaumont, Texas. The conflict in the Middle East has meaningfully impacted global petrochemical supply chains, including methanol, and this has resulted in a rapid and significant increase in global methanol pricing into the second quarter," chief executive Rich Sumner said.

"We believe our global asset portfolio will allow us to continue providing unmatched reliability of supply to our customers and we remain focused on delivering on our integration plan, cost-effectively operating our assets and supply chain and continuing our de-leveraging efforts while we navigate an evolving and uncertain macro environment," added Sumner.

The company said in the first quarter of 2026, it paid a quarterly dividend of $0.185 per common share for a total of $14 million and repaid $60 million of the outstanding Term Loan A.

The company's shares were last seen down US$0.31 to US$63.00 after-hours after closing up C$3.95 at C$86.65 on Toronto Stock Exchange.

Related Articles

Mining & Metals

First Quantum Minerals Swings to a Loss in the First Quarter

First Quantum Minerals (FM.TO) reported a first-quarter loss despite higher revenue, as the company continues to face operational challenges linked to the Middle East conflict and its impact on supply chains.The company posted an adjusted loss, excluding most one-time items, of US$147 million, or US$0.18 per share, compared with an adjusted profit of US$5 million, or US$0.01, in the prior-year period. It missed FactSet analysts estimates of US$0.03 in earnings per share.Revenue for the three months ended March 31, rose 18% year over year to US$1.40 billion from US$1.19 billion a year earlier.. It exceeded FactSet estimates of US$1.36 billion.For 2026, the company raised its copper production guidance to 405,000-475,000 tonnes. Gold production guidance was lowered to 150,000-175,000 ounces from 175,000-200,000 ounces, reflecting a delay in the transition of Guelb Moghrein to a gold operation to 2027, partially offset by expected gold output from processing stockpiled ore at Cobre Panama."Our long standing investments in innovation and electrification, including trolley-assist, continue to structurally reduce fuel intensity and our sites are advancing additional initiatives to further improve efficiency. We expect the increases in fuel prices to impact our cost base in the second quarter," said chief executive Tristan Pascall. Quantum.The company said it expects to produce between 405,000 - 475,000 tonnes of copper this year, up from in January estimate of 375,000 - 435,000 tonnes, including 30,000 to 40,000 tonnes from Cobre Panama as it readies to resume processing stockpiled ores. It lowered its gold production guidance to 150,000 - 175,000 ounces from its prior 175,000 - 200,000 ounce estimate. Its nickel production guidance was unchanged.The company's shares closed down $1.63 at $34.29 on Toronto Stock Exchange.

$FM.TO
Mining & Metals

Western Energy Services Posts Lower Profit, Revenue for First Quarter

Western Energy Services (WRG.TO) after trade Tuesday reported lower profit and revenue for the first quarter.The company said it earned $1.8 million, or $0.05 per share, compared with $2.4 million, or $0.07, a year ago "as lower adjusted EBITDA and higher stock-based compensation expense was partially offset by decreases in depreciation expense, finance costs, income tax expense, and other expenses due to a gain on the sale of assets in the first quarter of 2026". FactSet expected loss per share of $0.01.Revenue fell 20% to $55.3 million from $69 million a year prior "as drilling and well servicing activity decreased due to market uncertainty and continued low gas prices," the company said. FactSet projected $56 million.Regarding ongoing geopolitical tensions and continued shifts in energy policy, the company said "the extent and duration of the impact of these conditions on Western's customers and operations remain uncertain"."Over the medium term, Western expects its fleet to benefit from increased drilling activity associated with major Canadian infrastructure projects, including LNG Canada and the Trans Mountain expansion, and from broader initiatives supporting domestic energy security and economic independence," the company said.The company's shares closed down $0.01 to $3.11 on the Toronto Stock Exchange.

$WRG.TO
Mining & Metals

Thomson Reuters Shareholders Approve of Return of Capital and Share Consolidation Transactions

Thomson Reuters (TRI.TO, TRI), was last seen down 3% in after-hours Nasdaq trading, said Tuesday that shareholders approved a plan of arrangement to implement the company's proposed return of capital and share consolidation transactions.The company said a final report on voting results will be filed with Canadian securities regulators and furnished to the U.S. Securities and Exchange Commission.The return of capital and share consolidation transactions consist of a special cash distribution of US$605 million, or approximately US$1.36 per share.The plan of arrangement for the return of capital and share consolidation transactions is subject to final approval by the Ontario Superior Court of Justice as well as the Toronto Stock Exchange and the Nasdaq. The court hearing for a final order to approve the plan of arrangement is scheduled on April 29.The company's shares were down US$2.66 to US$87.23 in after-hours after closing up C$1.56 at C$123.04 on TSX.

$TRI$TRI.TO