U.S. Markets close in 3 hrs 16 mins

Methanex beats 1Q profit forecasts

VANCOUVER, British Columbia (AP) _ Methanex Corp. (MEOH) on Wednesday reported first-quarter net income of $132 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Vancouver, British Columbia-based company said it had net income of $1.46. Earnings, adjusted for non-recurring costs, came to $1.56 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.

The methanol supplier posted revenue of $810 million in the period.

Methanex shares have risen slightly more than 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $46.10, a rise of 30 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MEOH at https://www.zacks.com/ap/MEOH

_____

Keywords: Methanex, Earnings Report