Methanex (MEOH) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Methanex (MEOH) reported $823 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 18.7%. EPS of $0.02 for the same period compares to $0.69 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $779.21 million, representing a surprise of +5.62%. The company delivered an EPS surprise of +125.00%, with the consensus EPS estimate being -$0.08.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Methanex performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Sales volume in tonnes - Methanex-produced methanol: 1,473 KTon versus the three-analyst average estimate of 1,467.83 KTon.
Sales volume in tonnes - Purchased methanol: 905 KTon compared to the 849.67 KTon average estimate based on three analysts.
Average realized methanol price ($/tonne): 303 $/Ton compared to the 300.55 $/Ton average estimate based on three analysts.
Sales volume in tonnes - Total: 2,720 KTon versus 2,576.69 KTon estimated by three analysts on average.
Sales volume in tonnes - Commission sales: 342 KTon versus 259.19 KTon estimated by three analysts on average.
View all Key Company Metrics for Methanex here>>>
Shares of Methanex have returned -7.8% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Methanex Corporation (MEOH) : Free Stock Analysis Report
