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SQM REPORTS EARNINGS FOR THE THREE MONTHS ENDED MARCH 31, 2024|
Highlights
• SQM reported total revenues for the three months ended March 31, 2024 of US$1,084.5 million compared to total revenues of US$2,263.9 million for the same period last year.
• Net loss(1) for the three months ended March 31, 2024 of (US$869.5) million or (US$3.04) per share, compared to net income of US$749.9 million, US$2.63 per share for the same period last year.
• Over 30% year-on-year higher sales volumes in lithium business, surpassing 43,000 metric tons in 1Q2024.
• Revised and increased FY2024 lithium sales volumes guidance.
• Record-high quarterly sales volumes in iodine business, over 3,700 metric tons in 1Q2024.
• Concluded the acquisition of Andover lithium project in Western Australia.
• Successfully completed the ramp-up of the Dixin lithium hydroxide conversion facility in Sichuan, 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)) reported today net loss([1]) for the three months ended March 31, 2024, of (US$869.5) million, (US$3.04) per share. Excluding the net effect of accounting adjustments for the payments of the specific tax on mining activities for the exploitation of lithium, the net income for the three months ended March 31, 2024, totaled US$228.1 million (US$0.80 per share), representing a decrease of approximately 69.6% compared to US$749.9 million (US$2.63 per share).
Gross profit reached US$368.5 million (34.0% of revenues) for the three months ended March 31, 2024, lower ...