Methanex posts $265 million third-quarter profit after year-earlier loss
Key Facts
Methanex said on October 29 that net income attributable to its shareholders was $265 million in the third quarter of 2026, after it posted a loss of $7 million in the same period last year. The comparison highlights a clear turnaround in the methanol producer’s results over one year. Adjusted net income was $284 million, compared with $5 million a year earlier. Adjusted earnings per share were $3.69, compared with $0.06 in the third quarter of 2025. The results came as the company said the impact of the Middle East conflict on the methanol industry continued during the quarter.
Revenue was $1.388 billion in the third quarter, compared with $927 million in the same period of 2025. Adjusted earnings before interest, taxes, depreciation and amortization were $543 million, compared with $191 million a year earlier. The figures reflect simultaneous year-over-year improvement in revenue and adjusted operating earnings. But they were below second-quarter 2026 levels, when revenue was $1.395 billion and adjusted earnings before interest, taxes, depreciation and amortization were $577 million. The average realized selling price for methanol was $510 per tonne, down from $529 in the second quarter but above $345 in the third quarter of last year.
The company said the loss of a significant portion of the methanol industry’s supply supported continued price strength. Its statement quoted the chief executive as saying that "the significant impact of the Middle East conflict on the methanol industry continued through the third quarter." He added that the loss of a significant portion of industry supply supported prices. He said the company’s asset base continued to perform well, particularly in North America. The decline in the realized price from the second quarter puts that pricing strength in context: the price remained above its level a year earlier, but did not continue to rise quarter over quarter.
Methanex said production was strong at its assets in North America and Egypt, while it declined in Chile because of expected seasonal constraints on gas availability. In Trinidad, production fell after the Titan plant was shut down and taken offline indefinitely. Egypt’s plant produced 330,000 tonnes in the third quarter, the same level as in the second quarter. Methanex owns 50% of the plant, equivalent to 165,000 tonnes of third-quarter production. The stability of this quarterly share highlights Egypt’s place among the company’s producing assets, as output varied across its other regions for reasons related to gas and the plant shutdown.
The company forecast an average realized methanol price of $525 to $550 per tonne during October and November. It also said adjusted earnings before interest, taxes, depreciation and amortization would be higher in the fourth quarter, with a higher realized price and similar sales from its production. For 2026, it forecast production of about 9.0 million tonnes of methanol on an equity-share basis, along with 0.3 million tonnes of ammonia. The third-quarter results call was scheduled for October 30, 2026, at 11:00 a.m. Eastern time. The call provides a later opportunity to discuss the results and outlook announced by the company.