EarningsQ2 2026 Earnings Report

Methanex (MEOHN) Q2 2026 Earnings Report

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Previous Report: Q1 2026

MX:MEOHN Q2 2026 EPS Results

Actual EPS$66.55

Consensus EPS$68.56

Beat/MissMissed by -$2.01

One Year Ago EPS$16.37

MX:MEOHN Q2 2026 Revenue Results

Actual Revenue$23.57B

Expected Revenue$24.70B

Beat/MissMissed by -$1.13B

YoY Revenue Growth+75.13%

Earnings Announcement Details

QuarterQ2 2026

Date07/28/2026

TimeAfter Close

Conference CallTuesday, July 28, 2026

MX:MEOHN Upcoming Earnings

Methanex's next earnings date is estimated for October 28, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

MX:MEOHN Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

No slide deck is available for this earnings event.

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Jul 28, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed strong operational and financial performance in Q2 — record North American production, robust adjusted EBITDA and net income, repayment of key debt and healthy cash — alongside active integration and synergy delivery. However, material near‑term risks were emphasized: indefinite idling and impairment at Trinidad, sharply higher shipping costs, a working capital build, and substantial market uncertainty from Middle East supply disruptions that have drawn inventories down and may require demand rationalization. On balance, the company's results and balance‑sheet actions are positive, but continued macro and regional supply risks create meaningful downside if the conflict and logistics issues persist.

Company Guidance

On the call Methanex guided to 2026 equity production of approximately 9.0 million tonnes (quarterly variability possible), gave a July–August average realized price range of about $460–$485/ton (versus Q2’s $529/ton), and said that assuming similar produced sales to Q2 (~2.2 million tonnes) and those prices hold through September they expect a strong Q3 but with earnings lower than Q2; Q2 results were: ~2.2 mt produced/sold, adjusted EBITDA $577 million (which included a $12 million restructuring accrual), adjusted net income $300 million, cash on hand >$380 million, a $115 million after‑tax non‑cash impairment and $12 million restructuring accrual for Titan, and repayment of the remaining $290 million on Term Loan A. They reiterated capital allocation priorities of directing the majority of free cash flow to cash build and debt reduction (approaching an initial ~3.0x adjusted debt/EBITDA target and ultimately targeting ~2.0–2.5x at mid‑cycle), may consider modest buybacks as progress is made, and flagged other metrics/assumptions including a ~25% tax rate (~50% cash tax), an annualized ~$500 million difference between EBITDA and operating cash flow (leases, interest, capex, cash taxes), a Q2 working‑capital build of ~ $150 million, shipping headwinds of roughly $30–$40 million versus plan (about $18 million already in Q2) and bunker costs up ~40%, and broader market strain from an estimated 15–20 million tonnes of Middle East supply affected (about one‑third released in Q2) with China coastal inventories down to ~500k tonnes.

Strong Q2 Financial Performance

Average realized price of $529/tonne, produced sales ~2.2 million tonnes, adjusted EBITDA of $577 million and adjusted net income of $300 million for Q2 2026.

Record North America Production

Total equity methanol production of 2.2 million tonnes in Q2 with a record 1.6 million tonnes from North America; Geismar produced ~1.127 million tonnes (record quarterly level for that site).

Balance sheet and debt reduction

Repaid the remaining $290 million on Term Loan A during the quarter and ended the period with more than $380 million of cash, moving toward initial leverage target of ~3x adjusted debt/EBITDA and longer-term target of 2.0–2.5x.

2026 Production Guidance

Maintained expected equity production for 2026 at approximately 9 million tonnes (subject to quarterly variability from turnarounds, gas availability and unplanned outages).

Near-term price outlook and earnings expectation

Guided July–August average realized price to $460–$485/tonne (implies a decrease vs Q2 $529/tonne of roughly -8.3% to -13.0%); assuming similar volumes, management expects another strong quarter of earnings but lower than Q2 due to pricing.

Integration and synergies progressing

On track to realize $30 million of identified hard synergies from the OCI integration by year-end; acquired assets (Beaumont, Natgasoline, Geismar) performing above deal assumptions and benefiting from competitive North American gas prices.

Operational responsiveness and outage execution

Safely executed an unplanned 30‑day outage at Beaumont to repair the cooling tower (restarted early July); demonstrated ability to perform online maintenance and manage asset risks.

MX:MEOHN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 28, 2026	2026 (Q3)	46.89 / -	1.025	―
Jul 28, 2026	2026 (Q2)	68.56 / 66.55	16.365	306.64% (+50.18)
Apr 29, 2026	2026 (Q1)	6.43 / 4.98	21.955	-77.32% (-16.98)
Mar 05, 2026	2025 (Q4)	11.19 / -2.33	21.808	-110.69% (-24.14)
Oct 29, 2025	2025 (Q3)	6.29 / 1.03	20.478	-94.99% (-19.45)
Jul 30, 2025	2025 (Q2)	4.80 / 16.37	10.447	56.66% (+5.92)
Apr 30, 2025	2025 (Q1)	22.02 / 21.95	10.874	101.91% (+11.08)
Jan 29, 2025	2024 (Q4)	19.18 / 21.81	8.518	156.02% (+13.29)
Nov 06, 2024	2024 (Q3)	9.48 / 20.48	0.342	5892.86% (+20.14)
Jul 30, 2024	2024 (Q2)	8.76 / 10.45	9.665	8.08% (+0.78)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed