Methanex Corporation (NASDAQ:MEOH) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 11:00 am ET


Methanex Corporation (NASDAQ:MEOH) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by. Welcome to Methanex Corporation Q2 2020 Earnings Call.

I will now turn the meeting over to Ms. Campbell. Please go ahead, Ms. Campbell.

Kim Campbell

Thank you. Good morning, everyone. Welcome to our second quarter 2020 results conference call. Our 2020 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 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 conclusion or making the forecast or projections which are included in the forward-looking information. Please refer to our second quarter 2020 MD&A and to our 2019 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, EBITDA, cash flow or income made in today's remarks reflect our 63.1% economic interest in the Atlas facility and our 50% economic interest in the Egypt facility. 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 to specific identified events. We report these non-GAAP measures in this way to make them a better measure of underlying operating performance and we encourage analysts covering the company to report their estimates in this manner.

I would now like to turn the call over to Methanex's President and CEO, Mr. John Floren, for his comments and a question-and-answer period.

John Floren

Good morning. We hope that everyone is continuing to stay safe and healthy. We will start with a few comments about the current environment and then speak to our Q2 results, provide an overview of the methanol market and discuss how we are managing our business in this challenging environment, while positioning ourselves to benefit from the recovery in the global economy. Our number one priority remains the safety of our employees, contractors and communities where we work, and we are thankful that our team is safe and healthy.

We continue to evaluate the risk at each of our locations to ensure the safety of our team members and we continue to take extensive health and safety measures across our operations and offices as we begin to return to our workplaces at most of our locations. We have again demonstrated the resilience of our business model as our operations and global supply chain continue to run effectively in a different, very difficult environment and our ability to service customers has not been significantly impacted by the pandemic. A big thank you to the entire