Methanex (MX) ripped 14% on a big Q3 beat, as the Middle East conflict’s impact on methanol pricing continues to benefit the company as the world’s largest supplier…

… which translated to Y/Y revenue growth of 50%…

… and an expectation for an even bigger fourth quarter if current conditions persist.

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We continue to operate under significant industry supply pressures, resulting in an elevated pricing environment ... Assuming current pricing levels are sustained through December and produced sales volumes are similar to those of the third quarter we expect adjusted EBITDA to be higher in the fourth quarter than the third quarter.

Rich Sumner (President and CEO) - Q3’26 conference call

This pricing flow through has resulted in exceptionally strong EBITDA and FCF generation…

… enabling the company to accelerate debt reduction…

… and driving normalization in the multiple, which sits just under its five-year average as investors weigh the durability of MX’s recent outperformance.

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