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Methanex Reports Higher Earnings, Finalizes Plans for $550 Million Relocation to Louisiana

9:08 AM MDT | July 26, 2012 | Lindsay Frost

Methanex reported net earnings of $52 million for the second quarter of 2012, up 27% from the year-ago quarter. Adjusted net income of $44 million (47 cts/share) was up 13% year-on-year, but fell short of analysts' estimates of 58 cts/share, as reported by Thomson Reuters (New York). Adjusted Ebitda was reportedly $113 million, up 21%. The higher Ebitda was due to higher sales of methanol, the company says. The company had sales of $656 million, up 5% year-on-year. The adjusted net income includes charges for the $550-million relocation of an idle facility in...

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