Methanex Second Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag
Methanex (TSE:MX) Second Quarter 2024 Results
Key Financial Results
- Revenue: US$920.4m (down 2.0% from 2Q 2023).
- Net income: US$35.2m (down 38% from 2Q 2023).
- Profit margin: 3.8% (down from 6.0% in 2Q 2023).
- EPS: US$0.52 (down from US$0.84 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Methanex EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) exceeded analyst estimates by 44%.
Looking ahead, revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Chemicals industry in Canada.
Performance of the Canadian Chemicals industry.
The company's shares are up 1.2% from a week ago.
Risk Analysis
You still need to take note of risks, for example - Methanex has 2 warning signs (and 1 which is concerning) we think you should know about.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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About TSX:MX
Methanex
Produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia.
Fair value with questionable track record.
