Methanex Reports Third Quarter 2025 Results

Executive Summary

• Methanex reported a net loss of $7 million for Q3 2025 versus a net income of $64 million in Q2 2025, driven by lower realized methanol prices and higher expenses.
• Adjusted EBITDA increased to $191 million, and adjusted net income turned positive at $5 million despite the GAAP loss.
• Production rose sharply to 2.212 million tonnes of methanol (up from 1.621 million tonnes in Q2) thanks to the first full‑quarter operations at the newly acquired Beaumont plant and Natgasoline JV, plus higher output at existing sites.

Key Details

• Financial Highlights
• Adjusted EBITDA: $191 M (Q3) vs. $183 M (Q2).
• Adjusted net income: $5 M (Q3) vs. $66 M (Q2).
• Net loss attributable to shareholders: $(7) M ($0.09 per diluted share).
• Cash flow from operations: $184 M; cash balance end‑quarter: $413 M.
• Dividend paid: $14.3 M ($0.185 per share).

• Term Loan A repayment: $125 M.

• Production & Sales

• Total methanol production: 2,212 k tonnes (Q3) vs. 1,621 k tonnes (Q2).
• Methanex‑produced methanol sold: 1,891 k tonnes (up from 1,528 k tonnes).
• Purchased methanol sold: 488 k tonnes (up from 451 k tonnes).

• Total methanol sales volume: 2,476 k tonnes (Q3) vs. 2,133 k tonnes (Q2).

• Facility Performance

• Beaumont – 239 k tonnes methanol & 88 k tonnes ammonia (first full quarter).
• Natgasoline JV – 222 k tonnes methanol (Methanex share).
• Geismar – 931 k tonnes methanol (up from 829 k tonnes).
• Chile I – Full‑rate operation for first time in >10 years; production 224 k tonnes.
• Chile IV – Completed turnaround, back online Oct 2025.
• New Zealand – Production 123 k tonnes (up from 53 k tonnes).

• Egypt (50% interest) – 130 k tonnes Methanex share (up from 124 k tonnes).

• Pricing

• Average realized price: $345/tonne (Q3) vs. $374/tonne (Q2).

• Non‑discounted posted price: $578/tonne (Q3) vs. $605/tonne (Q2).

• Liquidity & Credit

• Cash on hand: $413 M; access to $600 M revolving credit facility.

• Outlook

• FY 2025 production target ≈ 8.0 million tonnes (7.8 Mt methanol, 0.2 Mt ammonia).
• Expect higher Adjusted EBITDA in Q4 2025 with modestly lower realized price range $335‑$345/tonne.

Notable Quotes

“This quarter marked a significant milestone as we successfully completed the first full quarter of operations at our newly acquired Beaumont plant and joint venture Natgasoline… We are focused on the reliable and cost‑efficient operation of our assets and supply chain to navigate the current macro uncertainty and create long‑term value for shareholders.” – Rich Sumner, President & CEO