Chile's SQM beats quarterly profit estimates on higher lithium sales, prices
Chile's SQM, the world's second-largest lithium producer, beat second-quarter net profit estimates on Wednesday owing to higher prices and sales volumes.
The company posted a net profit of $660-million for the three months ended June, compared with estimates of $553.9-million, according to data compiled by LSEG.
SQM's net profit jumped more than 600% from a year earlier.
Lithium markets have rebounded this year after a prolonged downturn driven by excess supply and weaker-than-expected electric vehicle demand growth.
In May, SQM raised its 2026 lithium sales volume growth guidance to approximately 15% from about 10% previously, citing robust demand.
The company had also said second-quarter average lithium prices were expected to exceed the roughly $17.8 per kilogram realized in the first quarter, while sales volumes were expected to increase.
"As anticipated in our previous earnings report, prices increased during the second quarter, supported by stronger than-expected market demand," SQM CEO Ricardo Ramos said.
Sales of lithium carbonate equivalent jumped 59% in the quarter.
Chile's lithium export value nearly tripled in the first half of 2026 from a year earlier as stronger prices and demand boosted shipments.
SQM, one of only two companies producing lithium in Chile, also makes fertilizers, iodine and industrial chemicals.
The miner is moving ahead with its partnership with Chile's state-run copper miner Codelco in the Atacama salt flat, one of the world's richest lithium deposits.
The miner posted revenue of $2.47-billion during the quarter, higher than analyst estimates of $2.29-billion.
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