Methanex Q1 2024 Adj EPS $0.65 Beats $0.42 Estimate, Sales $916.000M Beat $845.625M Estimate
Portfolio Pulse from Benzinga Newsdesk
Methanex (NASDAQ:MEOH) reported Q1 2024 adjusted earnings of $0.65 per share, surpassing the consensus estimate of $0.42 by 54.76%. Quarterly sales reached $916 million, exceeding estimates of $845.625 million by 8.32%, though this represents an 11.75% decrease from the previous year.
April 24, 2024 | 9:05 pm
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Methanex reported a significant beat on both earnings and sales estimates for Q1 2024, with adjusted EPS of $0.65 and sales of $916M.
Beating earnings and sales estimates typically leads to positive investor sentiment and can result in a short-term increase in stock price. The significant beat on both fronts for Methanex suggests a strong performance relative to market expectations, which could positively impact its stock price in the short term.
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