Methanex delivered Q4 Adjusted EBITDA of $186 million on 2.4 million tons sold at a realized price of $331 per ton, resulting in an adjusted net loss of $11 million. Lower average realized pricing and immediate fixed cost recognition from plant outages drove the earnings decline versus Q3.

Recent escalation in the Middle East has materially reduced Iranian and regional methanol exports, lifting spot prices above $300 per ton in China and near $400 per ton in Europe. Management noted that reduced supply reliability could further tighten global inventories and influence customer operations.

Production increased quarter-over-quarter across key assets despite an unplanned outage at Beaumont and a planned catalyst replacement at Natgasoline. Geismar plants ran stably, Chile operations resumed full rates post-turnaround, and Egypt and New Zealand facilities navigated gas availability constraints to sustain output.

Methanex targets roughly 9 million tons of equity production in 2026 and aims to capture $30 million of OCI-integration synergies by year-end. The company ended 2025 with $425 million in cash and is directing all free cash flow to Term Loan A repayment against its ~$300 million balance.