Sociedad Quimica y Minera de Chile reports Q2 GAAP EPS of $2.31, crushing estimates as lithium demand drives record revenue.
Sociedad Quimica y Minera de Chile (SQM) posted Q2 GAAP earnings per share of $2.31, exceeding estimates by $0.26. Revenue surged 137.5% year-over-year to $2.47 billion, beating expectations by $250 million.
Gross profit for the quarter reached $1,260.0 million, a 398.1% increase from $253.0 million in the same period last year. The sharp rise reflects elevated lithium prices and strong demand for battery materials.
The results underscore SQM’s position as a key supplier in the electric vehicle supply chain, with lithium prices remaining resilient amid tight global supply.