Why Methanex Stock Triumphed While the Market Tanked Today

Methanex surged 14% on October 30, 2026, after reporting strong Q3 earnings that beat analyst expectations. Revenue grew 50% to $1.39 billion driven by a 48% increase in methanol prices due to Middle East supply disruptions. Adjusted net income reached $284 million ($3.69 per share) versus $5 million in the prior year quarter. The company also announced a new share repurchase program authorizing buybacks of up to 5% of outstanding shares, with guidance for methanol prices to remain elevated at $525-$550 per tonne through November.