Methanex’s Q2 2026 earnings call drew analysts from Scotiabank, UBS, JPMorgan, BMO, Alembic, RBC, Jefferies, TPH, CIBC, National Bank and Bank of America.
Adjusted EBITDA reached USD 577 million on average realized price USD 529 per tonne; produced sales totaled 2.2 million tonnes; ended with USD 380 million cash.
Repaid the remaining USD 290 million on Term Loan A; leverage moved toward about 3x adjusted debt to adjusted EBITDA; buybacks under review.
Middle East conflict left 15 million to 20 million tonnes annualized supply unable to transit Hormuz; about a third released mainly from inventories.
Coastal China inventories fell to about 500,000 tonnes; management estimated demand running 5% to 10% below normal, led by weak MTO.
2026 equity production guidance held at about 9 million tonnes despite Titan idling; higher Egypt and New Zealand output expected to offset.
Trinidad Titan plant idled indefinitely; recorded USD 115 million non-cash after-tax impairment; USD 12 million restructuring accrual; no material extra cash costs flagged.
North America set production records; Geismar produced 1,027,000 tonnes; Beaumont had a 30-day unplanned outage, restarted in early July.
July–August average realized price expected at USD 460 to USD 485 per tonne; guidance reflected July–August spot weakness during a temporary ceasefire.
Logistics costs rose, driven by about 40% higher bunker prices; shipping headwind estimated at USD 30 million to USD 40 million per quarter.
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