Methanex Corporation (MEOH) saw its stock soar 5.05% in the pre-market trading session on Thursday, as the company reported better-than-expected fourth quarter 2024 earnings results.
The Canadian methanol producer reported adjusted earnings of $1.24 per diluted share for the quarter ended December 31st, surpassing analysts' expectations of $1.10 per share. While revenue came in slightly lower at $949 million compared to the estimated $979.6 million, the company's strong earnings performance boosted investor sentiment.
Analysts see Methanex's positive earnings surprise as a promising sign for the methanol market, as demand continues to recover from the pandemic slump. The company's ability to deliver solid profitability amid challenging macroeconomic conditions highlights its operational efficiency and cost management strategies.
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