Methanex Corporation reported unaudited consolidated earnings and production results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported revenue of $861,433,000 against $585,589,000 for the same period a year ago. Operating income was $138,384,000 against $50,019,000 for the same period a year ago. Income before income taxes was $137,210,000 against $35,367,000 for the same period a year ago. Net income attributable to the company shareholders was $68,039,000 or $0.81 per basic and diluted share against $24,842,000 or $0.28 per basic and diluted share for the same period a year ago. Cash flows from operating activities were $206,022,000 against $66,050,000 for the same period a year ago. Property, plant and equipment amount was $21,468,000 against $10,243,000 for the same period a year ago. Adjusted EBITDA for the fourth quarter of 2017 was $254 million and adjusted net income was $143 million or $1.70 per common share compared to adjusted EBITDA of $139 million and adjusted net income of $41 million or $0.46 per common share a year ago. Adjusted revenue was $904 million compared to $635 million a year ago.

For the year, the company reported revenue of $3,060,642,000 against $1,998,429,000 for the same period a year ago. Operating income was $476,468,000 against $28,446,000 for the same period a year ago. Income before income taxes was $470,885,000 against loss of $37,504,000 for the same period a year ago. Net income attributable to the company shareholders was $316,135,000 or $3.64 per basic and diluted share against loss of $12,545,000 or $0.14 per basic and diluted share for the same period a year ago. Cash flows from operating activities were $787,742,000 against $226,667,000 for the same period a year ago. Property, plant and equipment amount was $103,170,000 against $99,881,000 for the same period a year ago. Adjusted EBITDA was $838 million and adjusted net income was $409 million or $4.71 net income per common share compared to adjusted EBITDA of $287 million and an adjusted net loss of $15 million or $0.17 adjusted net loss per common share for the year ended December 31, 2016. Adjusted revenue was $3,227 million compared to $2,118 million a year ago.

Production for the fourth quarter of 2017 was 1,942,000 tonnes compared with 1,859,000 tonnes for the fourth quarter of 2016.

Production for the year 2017 was 7,187,000 tonnes compared with 7,017,000 tonnes for the year 2016.

The company anticipates that production in first quarter 2018 will continue to be strong.

Outlook for the first quarter of 2018 is positive. The company expects adjusted EBITDA to be much higher in first quarter 2018 compared to fourth quarter 2017.

The company has 20% to 30% tax rate guidance for fiscal 2018. Planned maintenance capital for 2018 is estimated to be in the range of $90 million to $135 million.