Chile’s Lithium Producer SQM Posts US$660 Million Quarterly Profit
Chilean lithium producer SQM earned US$660.0 million in the second quarter of 2026, up 646.4% on the year, as prices recovered and sales volumes hit a record. The post Chile’s Lithium Producer SQM Posts US$660 Million Quarterly Profit appeared first on The Rio Times .
Chile's lithium producer SQM announced a record US$660 million profit for the first half of 2026, thanks to record sales volumes and a rebound in lithium prices. The company sold 84,100 tonnes of lithium carbonate equivalent, up from 53,100 tonnes in the same period last year. Revenue jumped 136.7% to US$2,468.4 million, while gross profit soared to US$1,260.0 million from US$253.0 million.
Earnings per share reached US$2.31, more than doubling from US$3.59 in the first half of 2025. Analysts had forecast earnings of US$2.03 to US$2.04 per share. CEO Ricardo Ramos attributed the surge to higher lithium prices, driven by better-than-expected demand. SQM expects global lithium demand to surpass two million tonnes in 2026.
The company also reported solid earnings from its iodine segment, up 11.4% to US$302.2 million. SQM and Codelco merged their Atacama lithium units into a joint venture, Nova Andino Litio, with Codelco holding a 50% controlling stake. Chilean shares have rallied this year, buoyed by copper and lithium prices.
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