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Methanex swings to profit on high volumes, increased prices

10:37 AM MST | January 30, 2014 | Clay Boswell

Methanex (Vancouver) reports net income for the fourth quarter of $128 million, up from a loss of $140 million. Earnings per share of $1.72 easily beating the analysts’ consensus estimate of $1.57. Sales increased 32% year-on-year (YOY), to $881 million, on increased volumes and higher selling prices. Adjusted net income for the quarter totaled $167 million, up 42% over the third quarter and 174% YOY. Sales volumes increased 6.5% over the third quarter and 12% YOY, to 2.13 million m.t.
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