Core Viewpoint - SQM reported a significant decline in total revenues and a net loss for the nine months ended September 30, 2024, compared to the same period last year, indicating challenges in the market despite some positive volume growth in specific segments [1][5][6]. Financial Performance - Total revenues for the nine months ended September 30, 2024, were US$3,455.0 million, a decrease of 43.9% from US$6,155.9 million in the same period last year [1][6]. - The net loss for the nine months was US$524.5 million or US$1.84 per share, contrasting with a net income of US$1,809.5 million or US$6.33 per share for the same period last year [1][5]. - Gross profit for the nine months was US$1,033.3 million, representing 29.9% of revenues, down from US$2,674.3 million or 43.4% of revenues in the previous year [6]. Quarterly Results - For the third quarter of 2024, net income was US$131.4 million or US$0.46 per share, a decrease of 72.6% from US$479.4 million or US$1.68 per share in the third quarter of 2023 [7]. - Gross profit for the third quarter was US$280.8 million, down 62.7% from US$753.6 million in the same quarter last year [7]. - Revenues for the third quarter totaled US$1,076.9 million, a decrease of 41.5% compared to US$1,840.3 million in the third quarter of 2023 [7]. Business Segments - Solid sales volumes were reported in lithium, iodine, and fertilizer businesses, indicating a recovery in the market [2][3]. - Iodine prices saw a slight increase due to strong market demand and limited supply [4]. - Lithium sales volumes exceeded 51 thousand metric tons, reflecting an 18% year-on-year growth, although prices continued to decline, averaging 24% lower than the previous quarter [8]. Management Commentary - The CEO highlighted positive volume growth across nearly all business lines and noted a recovery in fertilizer markets, with Specialty Plant Nutrition volumes growing over 20% year-on-year [8]. - The CEO expressed confidence in the long-term fundamentals of the lithium market, emphasizing the company's competitive position and readiness to develop projects in response to the clean energy transition [9].

Financial Performance - SQM reported total revenues of US$3,455.0 million for the nine months ended September 30, 2024, a decrease of 43.9% compared to US$6,155.9 million for the same period last year[3]. - The company experienced a net loss of US$524.5 million or US$1.84 per share for the nine months ended September 30, 2024, compared to a net income of US$1,809.5 million or US$6.33 per share for the same period last year[3]. - Gross profit for the nine months ended September 30, 2024, was US$1,033.3 million, representing 29.9% of revenues, down from US$2,674.3 million or 43.4% of revenues for the same period in 2023[3]. - Total revenues for Q3 2024 were $1,076.9 million, a decrease of 41.5% compared to $1,840.3 million in Q3 2023[50]. - Gross profit for Q3 2024 was $280.8 million, down 62.8% from $753.6 million in Q3 2023[50]. - Net income for Q3 2024 was $131.4 million, compared to $479.4 million in Q3 2023, representing a decrease of 72.6%[50]. Revenue Breakdown - Lithium and derivatives revenues totaled US$1,709.3 million for the nine months ended September 30, 2024, a decrease of 61.1% compared to US$4,388.7 million for the same period in 2023[7]. - Specialty Plant Nutrition revenues increased to US$717.3 million for the nine months ended September 30, 2024, a slight increase from US$690.2 million reported for the same period in 2023[10]. - Iodine and derivatives revenues totaled US$742.8 million for the nine months ended September 30, 2024, an increase of 10.2% compared to US$674.0 million for the same period in 2023[16]. - Potassium revenues for the nine months ended September 30, 2024, totaled US$204.9 million, representing a 10.2% decrease from US$228.2 million in the same period of 2023[23]. - Industrial chemicals revenues for the nine months ended September 30, 2024, reached US$61.0 million, a 61.0% decrease from US$156.4 million in the same period of 2023[25]. - Lithium and derivatives revenue dropped to $497.2 million from $1,277.9 million year-over-year, reflecting a decline of 61.1%[50]. Sales Volumes - Lithium sales volumes reached over 51,200 metric tons for the third quarter of 2024, an 18% increase year-on-year[8]. - Specialty Plant Nutrition sales volumes increased by 21% year-on-year for the nine months ended September 30, 2024, totaling 745.3 thousand metric tons[13]. - Potassium sales volumes for the nine months ended September 30, 2024, were 528.6 thousand metric tons, a 23% increase from 430.5 thousand metric tons in the same period of 2023[23]. - Industrial nitrates sales volumes for the nine months ended September 30, 2024, were 41.1 thousand metric tons, a 76% decrease from 168.1 thousand metric tons in the same period of 2023[29]. Profitability and Expenses - Adjusted EBITDA for the nine months ended September 30, 2024, was US$1,155.4 million, with an adjusted EBITDA margin of 33.4%, compared to US$2,752.5 million and a margin of 44.7% for the same period in 2023[37]. - Net financial expenses for the nine months ended September 30, 2024, totaled US$82.8 million, compared to US$3.9 million for the same period in 2023[33]. - Income tax expense for the nine months ended September 30, 2024, reached US$1,301.1 million, compared to US$719.3 million during the same period in 2023[34]. - Administrative expenses totaled US$132.2 million (3.8% of revenues) for the nine months ended September 30, 2024, compared to US$126.8 million (2.1% of revenues) for the same period in 2023[32]. - Cost of sales amounted to US$2,421.7 million for the nine months ended September 30, 2024, a decrease of 30.4% compared to US$3,481.5 million for the same period in 2023[31]. Financial Position - The company reported a liquidity ratio of 2.9, indicating strong short-term financial health[48]. - Total current assets remained stable at $5,608.1 million as of September 30, 2024[48]. - Total assets were reported at $11,290.5 million, unchanged from the previous quarter[48]. - Shareholders' equity stood at $5,123.0 million, consistent with the previous reporting period[48]. Future Outlook - The company anticipates future growth driven by the development of the Salar Futuro Project and partnerships, including with Codelco[52]. - SQM aims to maintain its leading position in the lithium, potassium nitrate, iodine, and thermo-solar salts markets through innovation and technological development[51].

SQM's Role in Global Markets Sociedad Química y Minera de Chile S.A. (SQM, Financial), based in Chile, has established itself as one of the world's leading producers of lithium, iodine, and potassium derivatives. Their global sales and production presence is spanned across multiple continents, with numerous Commercial Offices, Joint Ventures, Production Plants, and Mining Operations across North America, Europe, South America, with the bulk of sales being generated from Asia, and Oceania. Among their produc ...

VANCOUVER, BC, Sept. 23, 2024 /PRNewswire/ - LiTHOS Group Ltd. ("LiTHOS" or the "Company") (CBOE CA: LITS), a leader in sustainable lithium brine production technologies, is pleased to provide shareholders with a Q3 corporate and operational update highlighting significant advances in the company's AcQUA™ and TiERRA™ technologies, and new strategic partnerships with major lithium producers. Scott Taylor, CEO of LiTHOS, shared his enthusiasm about the company's recent progress: "Our AcQUA™ technology continu ...

Investment Rating - The report maintains an "Overweight" rating for SQM, suggesting a potential upside of 5%-15% relative to the market index [2][5] Core Views - SQM is a global leader in lithium and iodine businesses, with additional operations in fertilizers and other industrial chemicals [2] - The company benefits from low-cost lithium extraction advantages in the Atacama Salt Flat and has strategic capacity expansions in China and Australia [2] - SQM's partnership with Codelco extends lithium extraction rights until 2060 and increases extraction quotas, enhancing long-term growth prospects [2] - The company expects to achieve a lithium production capacity of 305,000 tons by the end of 2025, maintaining its position as a global leader [2] Financial Performance - SQM's 2024Q2 revenue, gross profit, adjusted EBITDA, and net income were $1.294 billion, $384 million, $413 million, and $214 million, respectively, reflecting YoY declines of 37%, 55%, 53%, and 63% due to lower lithium and fertilizer prices [2] - Lithium sales in 2024Q2 were $665 million, down 55% YoY but up 21% QoQ, driven by increased sales volume despite a 73% YoY drop in average selling price to $12,700/ton [2] - The company's adjusted EBITDA for 2024-2026 is projected to be $1.58 billion, $1.757 billion, and $2.278 billion, with YoY growth rates of -50.3%, +11.2%, and +29.6%, respectively [2][3] Capacity Expansion and Production Guidance - SQM plans to expand its lithium capacity to 305,000 tons by the end of 2025, including 240,000 tons in Chile, 40,000 tons in China, and 25,000 tons in Australia [2] - The company expects 2024 lithium production to reach 210,000 tons, with sales guidance of 190,000 tons, allowing for inventory accumulation [2] Valuation Metrics - As of September 11, 2024, SQM's stock price implies EV/EBITDA multiples of 6.9x, 6.2x, and 4.8x for 2024-2026, respectively [2] - The company's market capitalization stands at $10.96 billion, with a total equity of $4.94 billion and total assets of $10.77 billion [1] Market Position - SQM held an 18% global market share in lithium sales in 2023, slightly ahead of Albemarle's 17% [2] - Over 90% of SQM's lithium sales are concentrated in the Asian market, highlighting its strong regional presence [2]

simonkr SQM: Falling Knife Reaching A Bottom? Sociedad Quimica y Minera de Chile S.A. (NYSE:SQM) investors have endured another disappointing seven months since my last update as the battering in the lithium market intensified. As a result, what seemed like a consolidation zone for lithium prices between January and April 2024 didn't sustain. Lithium prices have continued their downtrend bias through this week, reaching almost $10K per MT. Therefore, it marks a spectacular collapse from the highs of over $8 ...

Core Viewpoint - Sociedad Quimica y Minera de Chile S.A. (SQM) reported a significant decline in profits and revenues for the second quarter of 2024 compared to the previous year, with earnings falling short of market expectations [1] Financial Performance - SQM's profit for Q2 2024 was $213.6 million, or 75 cents per share, down from $580.2 million, or $2.03 per share, in Q2 2023 [1] - Revenues for the quarter totaled $1,293.6 million, a decrease of approximately 37% year over year, but exceeded the Zacks Consensus Estimate of $1,260.7 million [1] - Cash and cash equivalents at the end of the quarter were $1,033.1 million, down around 22% sequentially, while long-term debt remained flat at $2,946.2 million [5] Segment Highlights - The Lithium and Derivatives segment saw revenues drop nearly 55% year over year to $664.7 million, despite a 21% increase in sales volumes, due to a 63% reduction in average sales prices [2] - The Specialty Plant Nutrients (SPN) segment generated revenues of $260.5 million, up 5% year over year, driven by higher sales volumes but tempered by lower average sales prices [2] - The Iodine and Derivatives segment posted revenues of $269.2 million, up around 22% from the prior year, benefiting from higher sales volumes and increased sales prices [3] - Revenues from the Potassium business rose 10% year over year to $73.1 million, supported by higher sales volumes, though partially offset by lower average sales prices [3] - The Industrial Chemicals unit recorded sales of $20.5 million, down around 56% year over year, impacted by significantly lower sales volumes despite higher average sales prices [4] Market Outlook - SQM's production guidance remains unchanged, with expectations to produce approximately 210,000 metric tons of lithium carbonate equivalent [6] - The potassium nitrate market is projected to see total demand rise by nearly 13% compared to 2023, with SQM expecting its sales volumes to increase by close to 20% in 2024 [7] - Iodine demand growth in 2024 is projected at approximately 7% year over year, with SQM expecting iodine sales volumes to exceed 14,500 metric tons [8] - Global demand for potassium is expected to exceed 70 million metric tons by year-end, with SQM anticipating sales volumes to reach 650,000 metric tons in 2024 [9] - Quarterly sales volumes for industrial chemicals are expected to remain steady, with stable market prices anticipated for the remainder of 2024 [10] Stock Performance - SQM's shares have declined by 41.8% over the past year, compared to the industry's decline of 22.1% [11]

Sociedad Quimica y Minera de Chile S.A. (SQM) recorded a loss of $3.04 per share for first-quarter 2024. This compares to earnings of $2.63 in the year-ago quarter. The Specialty Plant Nutrients ("SPN") segment raked in revenues of $207.8 million, down around 6% year over year. Sales were hurt by significantly lower average sales prices. Revenues from the Iodine and Derivatives unit came in at $240.1 million, up around 0.2% year over year. Sales were aided by higher sales volumes, offset by lower sales pric ...

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) Q1 2024 Earnings Conference Call May 23, 2024 12:00 PM ET Company Participants Irina Axenova - Head of IR Gerardo Illanes - Chief Financial Officer Carlos Diaz - Executive Vice President of Lithium Mark Fones - Vice President of Lithium Development and M&A Juan Pablo Bellolio - Commercial Vice President of Iodine & Industrial Chemicals Conference Call Participants Ben Isaacson - Scotiabank Joel Jackson - BMO Capital Markets Corinne Blanchard - Deutsche Bank ...

Highlights China, with a nominal capacity of 20,000 metric tons. SQM will hold a conference call to discuss these results on Thursday, May 23, 2024 at 12:00pm ET (12:00pm Chile time). Participant Dial-In (Toll Free): 1-844-282-4852 Participant International Dial-In: 1-412-317-5626 Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=qmUdFzpU SANTIAGO, Chile, May 22, 2024 /PRNewswire/ -- Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) report ...