SQM Reports Earnings for the Six Months Ended June 30, 2025

Financial Performance - The company reported net income of US$226.0 million or US$0.79 per share for the six months ended June 30, 2025, a significant recovery from a net loss of US$(655.9) million or US$(2.30) per share for the same period last year [2][6] - Gross profit for the six months ended June 30, 2025, was US$558.3 million, representing 26.8% of revenues, down from US$752.5 million or 31.6% of revenues for the same period in 2024 [3][6] - Total revenues for the six months ended June 30, 2025, were US$2,079.3 million, a decrease of 12.6% compared to US$2,378.1 million reported for the same period in 2024 [3][6] Quarterly Results - For the second quarter of 2025, net income was US$88.4 million or US$0.31 per share, a decrease of 58.6% from US$213.6 million or US$0.75 per share in the second quarter of 2024 [4][6] - Gross profit for the second quarter of 2025 was US$253.6 million, down 34.0% from US$383.9 million in the second quarter of 2024 [4][6] - Revenues for the second quarter of 2025 totaled US$1,042.7 million, a decrease of 19.4% compared to US$1,293.6 million for the same quarter in 2024 [4][6] Market Conditions and Operations - The CEO noted that the company faced lower lithium market prices in the second quarter, impacting contract volumes and total sales [5] - Despite the challenges, the company expects sales volumes from its Salar de Atacama operations to grow by approximately 10% compared to the previous year [5] - The Kwinana refinery in Australia, a joint venture with Wesfarmers, has completed construction and achieved first product production, with a ramp-up period expected to take 18 months [5]