Brief: Methanex Reports Third Quarter 2021 Results

Methanex

27/10/2021 22:26

Oct 27 (Reuters) - Methanex Corp  MX.TO :
    * METHANEX REPORTS STRONG THIRD QUARTER 2021 RESULTS AND
MEANINGFUL CASH FLOW GENERATION WITH A ROBUST OUTLOOK FOR THE
FOURTH QUARTER
    * Q3 ADJUSTED EARNINGS PER SHARE $1.29
    * Q3 EARNINGS PER SHARE $0.93
    * QTRLY REVENUE $1,078 MILLION VERSUS $ 581 MILLION
    * PRODUCTION IN Q3 2021 ATTRIBUTABLE TO METHANEX
SHAREHOLDERS 1.48
MILLION TONNES
    * QTRLY ADJUSTED REVENUE $963 MILLION VERSUS $ 515 MILLION
    * INCREASED AVERAGE REALIZED PRICE TO $390 PER TONNE IN Q3,
A $14
PER TONNE INCREASE COMPARED TO $376 PER TONNE IN Q2
    * ROBUST OUTLOOK FOR Q4 AS GLOBAL ENERGY SHORTAGES AND
RISING
FEEDSTOCK COSTS ARE LEADING TO A SHARP INCREASE IN METHANOL
PRICES
    * IN EARLY OCTOBER, RESTARTED PRODUCTION AT CHILE IV PLANT
(ANNUAL
OPERATING CAPACITY OF 830,000 TONNES), WHICH WAS IDLE FOR 18
MONTHS
    * Q3 REVENUE VIEW $975.2 MILLION -- REFINITIV IBES DATA
    * QTRLY SALES VOLUME OF METHANEX-PRODUCED METHANOL 1.44
MILLION
TONNES
    * RESTARTED CONSTRUCTION ON OUR ADVANTAGED GEISMAR 3 PROJECT
    * GEISMAR 3 PROJECT IS WELL-POSITIONED TO BE COMPLETED
ON-TIME AND
ON BUDGET WITH COMMERCIAL OPERATIONS TARGETED BY LATE 2023/EARLY
2024
    * Q3 EARNINGS PER SHARE VIEW $1.27 -- REFINITIV IBES DATA

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