Sociedad Quimica Misses Q2 Earnings Estimates, Tops Sales
Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM) posted a profit of $213.6 million or 75 cents per share in second-quarter 2024. The figure marks a decline from the $580.2 million or $2.03 per share registered in the year-ago quarter. Quarterly earnings also fell short of the Zacks Consensus Estimate of 99 cents per share.
SQM generated revenues of $1,293.6 million in the quarter, down around 37% year over year. The figure beat the Zacks Consensus Estimate of $1,260.7 million.
Sociedad Quimica y Minera S.A. Price, Consensus and EPS Surprise
Sociedad Quimica y Minera S.A. price-consensus-eps-surprise-chart | Sociedad Quimica y Minera S.A. Quote
Segment Highlights
Revenues from the Lithium and Derivatives segment fell nearly 55% year over year to $664.7 million in the reported quarter. Despite a near 21% increase in sales volumes, the downside was caused by a sharp 63% reduction in average sales prices.
The Specialty Plant Nutrients segment generated revenues of $260.5 million, up 5% year over year. This upside was primarily driven by higher sales volumes, though it was tempered by lower average sales prices.
The Iodine and Derivatives segment posted revenues of $269.2 million, up around 22% from the prior year’s levels, benefiting from higher sales volumes and increased sales prices.
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.
The Industrial Chemicals …
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