Below are the earnings highlights for Sociedad Quimica Y Minera De Chile SA (SQM):
Earnings: $137.5 million in Q1 vs. -$869.5 million in the same period last year.
EPS: $0.48 in Q1 vs. -$3.04 in the same period last year.
Analysts projected $0.61 per share
Revenue: $1.036 billion in Q1 vs. $1.084 billion in the same period last year.
Ricardo Ramos, CEO of SQM, said: “We closed the first quarter with strong growth-approximately 27% year-on-year—in lithium sales volumes. This is a reflection of the strong demand growth seen during the past few months, driven by the electric vehicle market, particularly in China, along with new demand coming from energy storage systems. Despite the fact that average prices reported during the first quarter 2025 were similar to those reported at the end of last year, we have seen lower prices during the past few weeks, as consequence of a continuously oversupplied market. Therefore, we expect lower realized prices in the second quarter of 2025.”
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