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VANCOUVER, British Columbia, April 07, 2020 -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced today that it will report its Q1 2020 results on May 5, 2020 and will hold.
Methanex Corporation (MX.TO) (MEOH) announced that its annual general meeting of shareholders scheduled for Thursday, April 30, 2020, starting at 10:00am (Pacific Time), will now be held at Methanex’s temporary head office in Vancouver located at Suite 800 – 355 Burrard Street. The change in location is a result of the temporary closure of the venue described in the Notice of Meeting dated March 5, 2020 due to the ongoing COVID-19 pandemic. As a precautionary measure, to support the health and safety of shareholders, employees and the community, Methanex urges shareholders and others not to attend the annual meeting in person.
It looks like Methanex Corporation (TSE:MX) is about to go ex-dividend in the next 4 days. You will need to purchase...
Methanex (MEOH) has drawn $136 million of its credit facility to enhance its cash position and retain financial flexibility.
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Methanex Corporation (MX.TO) (MEOH) today filed its Annual Report, which includes its audited Consolidated Financial Statements and related Management Discussion and Analysis (“MD&A”) for the year ended December 31, 2019, as well as its 2019 Annual Information Form, with Canadian securities regulatory authorities. The Company also filed its Form 40-F for the year ended December 31, 2019 with the U.S. Securities and Exchange Commission. Copies of these documents are available electronically on the Company’s website at www.methanex.com in the Investor Relations section, at www.sedar.com (Canadian filings) and at www.sec.gov/edgar.shtml (U.S. filings).
Methanex Corporation (MX.TO) (MEOH) announced today that, in light of the significant uncertainty in the global economy from the COVID-19 pandemic, resulting in a challenging commodity price and project execution environment, it is taking action to defer approximately $500 million of previously announced capital spending on its Geismar 3 methanol project for up to 18 months. Methanex also provided an update on other actions it is taking to strengthen its financial position.
Methanex Corporation (MX.TO) (MEOH) announced today that, in addition to the actions previously announced, it is taking additional measures to enable greater financial flexibility and preserve liquidity in response to the current uncertain market conditions caused by the COVID-19 pandemic and low oil price environment. The Company is working with its banking partners to obtain flexibility on certain financial covenants in its existing $300 million committed revolving credit facility and $800 million non-revolving construction facility. The Company has agreed on key parameters with its lead bank and is working with the other members of the bank syndicate to finalize these changes to the credit facilities, which is expected in the second half of May.
VANCOUVER, British Columbia, May 01, 2020 -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced, in accordance with Toronto Stock Exchange requirements, the voting results.
Methanex Corporation (MX.TO) (MEOH) announced today that it has idled its Titan plant in Trinidad effective today and will idle its Chile IV plant effective April 1, 2020. As a result, we are reducing production at our methanol facilities, where we have flexibility in our gas agreements, to prepare for lower demand for methanol. Methanex currently has significant liquidity of approximately $700 million, including cash on hand and an undrawn committed revolving credit facility, as well as an $800 million undrawn construction facility for the Geismar 3 project.
Toronto, April 01, 2020 -- Moody's Investors Service (Moody's) changed Methanex Corporation's (Methanex) outlook to negative from stable. Moody's affirmed the Baa3 senior unsecured ratings and the (P)Baa3 on the senior unsecured shelf. "The change in outlook to negative reflects the pressure on cash flow and credit metrics resulting from the substantial decline in methanol prices, which have moved down largely with the drop-in oil price," said Paresh Chari Moody's analyst.
Lower methanol prices dent Methanex's (MEOH) revenues in Q1.
Investors who take an interest in Methanex Corporation (TSE:MX) should definitely note that the Independent Director...
Methanex (MEOH) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Methanex (MEOH) saw a big move last session, as its shares jumped more than 9% on the day, amid huge volumes.
Commercial Metals' (CMC) fiscal second-quarter results are likely to reflect benefits of improved domestic construction markets amid lower demand in China due to the coronavirus outbreak and higher interest expenses.
Methanex (MEOH) anticipates methanol demand to be affected in second-quarter 2020 due to COVID-19 outbreak.
MEOH earnings call for the period ending March 31, 2020.
For the first quarter of 2020, Methanex (MX.TO) (MEOH) reported net income attributable to Methanex shareholders of $23 million ($0.21 net income per common share on a diluted basis) compared to net income of $9 million ($0.12 net income per common share on a diluted basis) in the fourth quarter of 2019. Adjusted EBITDA for the first quarter of 2020 was $138 million and Adjusted net income was $8 million ($0.10 Adjusted net income per common share).