Methanex Corporation (NASDAQ:MEOH) Q3 2022 Earnings Conference Call October 27, 2022 11:00 AM ET

Company Participants

Sarah Herriott - Director, IR

John Floren - President and CEO

Rich Sumner - Incoming CEO

Conference Call Participants

Joel Jackson - BMO Capital Markets

Ben Isaacson - Scotiabank

Nelson Ng - RBC Capital Markets

Steve Hansen - Raymond James

Josh Spector - UBS

Jacob Bout - CIBC

Hassan Ahmed - Alembic Global

Matthew Blair - TPH

Chris Shaw - Monness Crespi

Steve Hansen - Raymond James

Operator

Welcome to the Methanex Corporation Q3 2022 Earnings Call.

I would now like to turn the conference call over to Ms. Sarah Herriott. Please go ahead.

Sarah Herriott

Good morning everyone. Welcome to our third quarter 2022 results conference call. Our 2022 third 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 forecast or projections, which are included in the forward-looking information. Please refer to our second quarter 2022 MD&A and our 2021 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% economic 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.

We report these non-GAAP measures in this way because we believe they are a better measure of underlying operating performance and we encourage analysts covering the company to report their estimates in this matter.