Methanex Corporation (NASDAQ:MEOH) Q2 2023 Earnings Conference Call July 27, 2023 11:00 AM ET

Company Participants

Sarah Herriott – Director of Investor Relations

Rich Sumner – President and Chief Executive Officer

Conference Call Participants

Jacob Bout – CIBC

Joel Jackson – BMO Capital Markets

Nelson Ng – RBC Capital Markets

Hassan Ahmed – Alembic Global

Steve Hansen – Raymond James

Ben Isaacson – Scotiabank

Kevin Estok – Jefferies

Matthew Blair – TPH

Josh Spector – UBS

Operator

Good morning. My name is Chris, and I will be your conference operator today. At this time, I’d like to welcome everyone to the Methanex Corporation 2023 Second Quarter Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

I’d now like to turn the conference call over to the Director of Investor Relations at Methanex, Ms. Sarah Herriott. Please go ahead, Ms. Herriott.

Sarah Herriott

Good morning, everyone. Welcome to our second quarter 2023 results conference call. Our 2023 second quarter news release, management’s discussion and analysis and financial statements can be accessed from the Reports tab of the Investor Relations page on our website at methanex.com.

I would like to remind our listeners that our comments and answers to your questions today may contain forward-looking information. This information, by its nature, is subject to risks and uncertainties that may cause the stated outcome to differ materially from the actual outcome. Certain material factors or assumptions were applied in drawing the conclusions or making the forecasts or projections, which are included in the forward-looking information.

Please refer to our second quarter 2023 MD&A and our 2022 Annual Report for more information. I would also like to caution our listeners that any projections provided today regarding Methanex’s future financial performance are effective as of today’s date. It is our policy not to comment on or update this guidance between quarters.

For clarification, any references to revenue, average realized price, EBITDA, adjusted EBITDA, cash flow, adjusted income or adjusted earnings per share made in today’s remarks reflects our 63.1% economic interest in the Atlas facility, our 50% economic interest in the Egypt facility and our 60% interest in Waterfront Shipping.

In addition, we report our adjusted EBITDA and adjusted net income to exclude the mark-to-market impact on share-based compensation and the impact of certain items associated with specific identified events. These items are non-GAAP measures and ratios that do not have any standardized meaning prescribed by GAAP, and therefore, unlikely to be comparable to similar measures presented by other companies.