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Methanex climbs to highest since June after strong Q4 earnings beat

Methanex MEOH ended Friday's trading with its highest close in eight months, +6.5% and capping a 35% run so far this year, after routing estimates for Q4 adjusted earnings and revenues.

Q4 net income fell to $41M, or $0.59/share, from $201M, or $2.51/share, in the year-ago quarter, but on an adjusted basis, EPS of $0.73 easily topped the consensus forecast.

Q4 methanol sales were little changed Q/Q at 1.36M tons, and revenues slid 21% Y/Y to $986M from $1.3B a year earlier, also beating expectations.

Q4 methanol production totaling 1.53M metric tons fell from 1.93M a year earlier but surged 22% from 1.25M in Q3 due to higher output in New Zealand and Egypt, and a rise in Chile following seasonal gas restrictions there during Q3.

Q4 methanol pricing remained relatively stable, as the average realized price was $373/ton compared to $377/ton in Q3.

Methanex MEOH shares have surged 35% so far this year while gaining only 7.5% during the past year.