The following is a summary of the Methanex Corporation (MEOH) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Methanex reported an average realized price of $343 per tonne with sales of approximately 1.7 million tonnes.

• The adjusted EBITDA for Q1 2024 was $160 million and the adjusted net income was $0.65 per share, primarily driven by a higher average realized price.

• The company ended Q1 2024 with approximately $378 million in cash.

• Methanex predicts an equity production guidance to seven million tonnes for 2024.

Business Progress:

• The G3 plant is expected to restart in Q3 2024 after incurring delay costs in Q1.

• Successful repair and restart of the Egypt plant were conducted in Q1 2024.

• Methanex is monitoring stable and moderate growth rate for traditional chemical applications and also plans stock buyback later in 2024.

• The company expects to achieve higher production in Chile and is anticipating a larger drilling campaign in New Zealand later this year.

• Methanex is considering using renewable hydrogen and CO2 as direct feeds into their assets and procuring more renewable natural gas due to methanol's growing interest as marine fuel.

More details: Methanex IR

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