Methanex Q4 Adj. EPS $0.52 Beats $0.32 Estimate, Sales $922.00M Beat $867.39M Estimate
Portfolio Pulse from Benzinga Newsdesk
Methanex Corporation (NASDAQ:MEOH) reported Q4 adjusted earnings per share (EPS) of $0.52, surpassing the analyst consensus estimate of $0.32 by 62.5%. However, this represents a 28.77% decrease from the $0.73 EPS reported in the same quarter last year. The company's quarterly sales reached $922.00 million, exceeding the consensus estimate of $867.39 million by 6.30%, but marking a 6.49% decline from the $986.00 million in sales reported in the same period the previous year.
January 31, 2024 | 10:42 pm
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Methanex Corporation reported higher-than-expected Q4 earnings and sales, but both metrics showed a year-over-year decline.
The positive earnings surprise is likely to have a favorable impact on Methanex's stock price in the short term, as beating analyst estimates can be a bullish signal to investors. However, the year-over-year decline in both earnings and sales may temper the market's reaction, suggesting a cautious optimism for the stock's short-term trajectory.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100