SQM
Sociedad Quimica y Minera de Chile Pfd Series B n-vtg PfdCDocument history
Earnings documents stored for SQM.
Investor releaseQuarter not tagged2026-05-27Sociedad Quimica Y Minera De Chile SA (SQM) Q1 2026 Earnings Call Highlights: Strong Lithium ...
GuruFocus.com
Sociedad Quimica Y Minera De Chile SA (SQM) Q1 2026 Earnings Call Highlights: Strong Lithium ...
This article first appeared on GuruFocus. Lithium Sales Volume: Increased by 25% year-over-year, reaching approximately 69,000 metric tons of lithium carbonate equivalent. Contribution to Chilean State: Over $530 million in contributions through payments, taxes, and transfers to local governments in the first quarter. Projected Lithium Sales Volume Growth: Expected to grow by approximately 15% compared to 2025. Specialty Plant Nutrition Sales Volume Growth: Expected to grow by approximately 10% compared to 2025. Warning! GuruFocus has detected 5 Warning Signs with SQM. Is SQM fairly valued? Test your thesis with our free DCF calculator. Release Date: May 27, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Sociedad Quimica Y Minera De Chile SA (NYSE:SQM) reported strong results for the first quarter of 2026, reflecting robust performance across key business lines. The partnership with Codelco through Novandinolithium completed its first full quarter of operations, generating over $530 million in contributions to the Chilean state. Lithium sales volumes increased by 25% year-over-year, with expectations for total lithium sales volumes to grow by approximately 15% compared to 2025. The specialty plant nutrition business line is expected to see a 10% growth in sales volumes, driven by reduced potassium nitrate exports from China. The company is advancing in the Salar Futuro project and expects to begin the environmental permitting process soon, indicating future growth potential. The company faces a high volatile price scenario in the lithium market, making it difficult to predict prices beyond the second quarter. Despite higher cash and cash equivalents, the company has significant obligations, including payments to Corfo and tax-related payments, which may limit cash availability for other uses. The iodine market faces potential supply disruptions, and there is uncertainty about whether supply will accelerate in the next two to three years, affecting pricing. Inflation and global uncertainties could impact the cost and returns of the Salar Futuro project, although the company remains optimistic about its viability. The effective tax rate was higher than usual due to increased profitability in the lithium business, leading to higher mining taxes. Q: How does the movement in the lithium battery business o...
Investor releaseQuarter not tagged2026-05-27Sociedad Quimica y Minera Q1 Earnings Call Highlights
MarketBeat
Sociedad Quimica y Minera Q1 Earnings Call Highlights
Interested in Sociedad Quimica y Minera S.A.? Here are five stocks we like better. SQM posted a strong Q1 2026 with lithium sales volumes up 25% year over year to about 69,000 metric tons of lithium carbonate equivalent, helped by better pricing across lithium, iodine and nitrates. The company raised full-year lithium guidance, now expecting sales volumes to grow about 15% versus 2025, and said second-quarter lithium prices and volumes should be higher than in Q1. Management also improved outlooks for specialty plant nutrition and iodine, citing supply shortages from China and rising spot iodine prices, while advancing major growth projects in Chile and Australia. Gold and Silver Rebound, But This Metal Is Outperforming Both Sociedad Quimica y Minera (NYSE:SQM) reported a strong first quarter of 2026, with management citing higher lithium volumes, favorable pricing trends across several businesses and the first full quarter of operations for its Novandino Lithium partnership with Codelco. Chief Executive Officer Ricardo Ramos said the quarter marked “an important milestone” for SQM and the partnership, which is focused on developing lithium resources in the Salar de Atacama. Ramos said Novandino Lithium generated more than $530 million in contributions to the Chilean state during the quarter through payments to CORFO, taxes and transfers to local governments. → Voya Financial Grows Earnings Across All 3 Business Segments This ETF Is Up 146% as the Battle Over Rare Earths Heats Up “We are operating at full capacity, delivering strong operational and financial results, while continuing to invest in future growth and production expansion,” Ramos said. SQM said total lithium sales volumes rose 25% year over year in the first quarter to approximately 69,000 metric tons of lithium carbonate equivalent across its operations. Ramos said the company now expects global lithium demand to exceed 1.9 million metric tons of lithium carbonate equivalent this year, with market conditions indicating a tight supply-demand balance. → SpaceX Gets the Attention, But These 4 Stocks Could Get the Returns Chinese Lithium Production Halt Means Upside for These 3 Stocks Based on that outlook, SQM increased its full-year lithium sales volume guidance and now expects total lithium sales volumes to grow approximately 15% compared with 2025. Management also said average realized lithium...
Investor releaseQuarter not tagged2026-05-27SQM Doubles Quarterly Ebitda, Raises Lithium Sales Growth Forecast
GuruFocus.com
SQM Doubles Quarterly Ebitda, Raises Lithium Sales Growth Forecast
This article first appeared on GuruFocus. SQM (NYSE:SQM) reported a sharp rebound in first-quarter profit as lithium demand shows signs of tightening again, helped by battery storage systems and electric vehicles. The Chilean lithium producer posted adjusted Ebitda of $837 million for the three months ended March 31, more than double the year-earlier level and above the average analyst estimate. Revenue rose to $1.8 billion, also slightly ahead of expectations, giving investors one of SQM's strongest quarters since the 2022 lithium boom. Warning! GuruFocus has detected 5 Warning Signs with SQM. Is SQM fairly valued? Test your thesis with our free DCF calculator. The bigger story is volume. SQM sold about 69,000 metric tons of lithium carbonate equivalent in the quarter while operating at full capacity to meet demand. Management now expects lithium sales volumes to rise about 15% this year, up from its earlier forecast of 10%. That matters because the lithium market has spent two years under pressure, with falling prices forcing producers to cut costs, delay projects and idle capacity. SQM's updated outlook suggests demand from energy storage and EVs could be pulling the market back toward a tighter supply-demand balance. CEO Ricardo Ramos said global lithium demand could exceed 1.9 million tons in 2026, supported in part by rapid growth in battery energy storage systems. Ramos said market conditions continue to point to a tight balance between supply and demand, and that the positive pricing trend seen in recent months could continue in the short term. SQM is choosing to maximize output and keep costs low rather than restrict supply to support prices, while investors are likely to focus next on pricing trends, Salar Futuro and the company's Codelco partnership, which extends Atacama operations through 2060.
TranscriptFY2026 Q12026-05-27FY2026 Q1 earnings call transcript
Earnings source - 55 paragraphs
FY2026 Q1 earnings call transcript
Please be advised that today's conference is being recorded. Now it's my pleasure to hand the conference to Megan Suitor with Investor Relations. Please proceed.
Good day, and thank you for joining SQM's earnings conference call for the first quarter of 2026. This call is being recorded and webcast live. Our earnings press release and the accompanying results presentation are available on our website, where you can also find a link to the webcast. Today's participants include Mr. Ricardo Ramos, Chief Executive Officer, Mr. Gerardo Illanes, Chief Financial Officer, Mr. Pablo Altimiras, CEO of the Iodine and Plant Nutrition Division, Mr. Pablo Hernández, Vice President of Strategy and Development of Novandino Lithium, Mr. Andrés Fontannaz, Commercial Vice President of the International Lithium Division, and Mr. Max Vial, Head of Studies of the International Lithium Division.
Before we begin, please note that statements made during this call regarding our business outlook, future economic performance, anticipated profitability, revenues, expenses, and other financial items, along with expected cost synergies and product or service line growth, are considered forward-looking statements under U.S. federal securities law. These statements are not historical facts and are subject to risks and uncertainties that could cause actual results to differ materially. We assume no obligation to update these statements except as required by law. For a full discussion of forward-looking statements, please refer to our earnings press release and presentation. With that, I will now turn the call over to our Chief Executive Officer, Mr. Ricardo Ramos.
Good day, and thank you for joining us today. We reported strong results for the first quarter of the year, reflecting a strong performance across our key business lines. The first quarter of 2026 also marked an important milestone for SQM and for TLIP, as our partnership with Codelco through Novandino Lithium completed the first full quarter of operations. This partnership represents much more than a business combination. It reflects a long-term commitment to responsibly developing Salar de Atacama lithium resources while creating value not only for our shareholders but also for the country and local communities. We are operating at full capacity, delivering strong operational and financial results, while continuing to invest in future growth and production expansion. Importantly, during the first quarter alone, Novandino Lithium generated more than $530 million in contributions to the Chilean state through payments to CORFO, taxes, and transfers to local governments.
We believe this demonstrates the scale of value this operation creates and the meaningful role it plays in supporting Chile's long-term economic development. Starting our business analysis with lithium, total sales volumes in the first quarter increased by 25% year-over-year, reaching approximately 69,000 MT of lithium carbonate equivalent across our operations. Based on our current estimates, global lithium demand could exceed 1.9 million MT of lithium carbonate equivalent this year, while market dynamics continue to suggest a tight supply-demand balance. As a result, we have increased our lithium sales volume guidance for the year and now expect total lithium sales volumes to grow by approximately 15% compared to 2025. Given current market conditions, we also believe the average realized price in the second quarter could be higher than those reported in the first quarter.
In Chile, Novandino Lithium delivered solid first-quarter sales volumes, and we expect volumes to continue increasing quarter-over-quarter. In parallel, we continue advancing in the Salar Futuro project and expect to begin the environmental permitting process in the coming months. In our international lithium division, operations in Australia also delivered strong results. Mount Holland and the concentrator are operating at full capacity, while they continue advancing in the ramp-up of Kwinana Refinery, which is expected to be fully operational during 2027. Moving to our Specialty Plant Nutrition business line, we're also increasing our sales guidance for the year. We now expect sales volumes to grow by approximately 10% compared to 2025, driven by reduced potassium nitrate exports from China, which have created supply gaps in international markets. We believe SQM is well-positioned to help provide the supply the market needs.
In iodine, we delivered a strong quarter, and we expect this trend to continue into the second quarter, as the spot transaction prices have continued to increase, particularly in Asian markets. For the full year, we continue to expect iodine sales volume to be broadly in line with last year or slightly higher. We're remaining focused on operating at maximum capacity. At Nueva Victoria, the seawater pipeline is currently under commissioning, and it is expected to support future production capacity growth. Overall, we continue to observe supportive market conditions across our key business lines, and we believe SQM is well-positioned to continue delivering solid results and creating value for our shareholders. With that, I will now turn the call back to the operator for the Q&A. Thank you.
Thank you, and as a reminder, to ask a question, simply press star one-one and wait for your name to be announced. To withdraw your question, please star one-one again. One moment for our first question. It comes from Joel Jackson with BMO Capital Markets. Please go ahead.
Hi, good afternoon. It's Evan on for Joel. Thanks for taking the questions. Just have a couple here. This first one's on the lithium pricing movement. Does the movement over the last year make SQM feel more bullish or the same about mid-cycle pricing?
Hey, Joel. Pablo Hernández from Novandino speaking. I'll refer to our pricing if this helps answer your question. In Q1 2026, our average sales price was roughly $18 per kilo, which was substantially higher than the $10 per kilo we reached in Q4 2025. Our realized prices remain mainly linked to the pricing indexes. Consequently, of course, we expect our sales prices in Q2 2026 to be higher than what we had in Q1 2026. We're still in a very high volatile price scenario, so it's difficult to predict prices beyond Q2.
Okay, thank you. Also, how does SQM plan to deploy windfall free cash flow this year, driven by the higher lithium prices and higher earnings? In the past, you've done special dividends. Should the market expect this again?
Hi, this is Gerardo speaking. Yes, we finished the first quarter with a higher cash and cash equivalent than what we had at the end of last year, mainly because of higher prices of lithium, higher prices of iodine, and higher prices of nitrates. You have to consider that right after that, we pay dividends 50% of the net income of last year. We also have to make payments to CORFO and other payments that are tax-related payments and others. We are constantly assessing opportunities to distribute dividends. In the past, we have done that, but at this quarter, we have not taken any decision so far.
Thank you. One moment for our next question. Comes from Ben Isaacson with Scotiabank. Please proceed.
Thank you very much. Good afternoon, everyone. I just have three questions. The first one is on the SPN business. You have announced an increase in your guidance for 10% growth in volume, versus about 2%-3% before. You've talked about really taking share away from China and Asian markets. Can you just provide some color as to what's going on in China that's causing them to focus more on their domestic market? How sustainable do you think this is?
Hello, Ben. Pablo Altimiras speaking. Yes, that's right. We intend to increase our volumes by 10%, as you said. This is more related to increasing potassium nitrate sales. As you know, by the end of March, China suspends the export of potassium nitrate abroad. That means that allows us to go to markets where we normally are not going. That opened an opportunity to put more volume in the market; that explains mainly our growth. Regarding what's going on in China, well, it's difficult to say. In China also, you see that today is not the only restriction on that product, potassium nitrate. You have other products that are restricted; it's not easy to see what will happen in the future. However, in the meantime, we have the opportunity.
We are well prepared because we have the capacity, the installed capacity, inventories, and our supply chain worldwide ready if the market needs more potassium nitrate.
Great, thank you. My next question is on iodine. We've had elevated prices for quite some time, and if we go back, I can't remember how long it was—maybe 12 years ago, I can't remember—but when prices were at this level again, at this level, it didn't last that long, and we saw supply coming to market, and then we saw prices dropping. What gives you the confidence, and I know supply is coming to market slowly, but what gives you the confidence that we won't see an acceleration in supply of iodine over the next two or three years that will disrupt this pricing environment?
Well, I would say that, first of all, if you try to compare the market today with what the market was 10 or 12 years ago, it's too much higher. I think that it's not so easy to compare. The market is much higher than before. The participation of the different applications has changed. Today you have, for example, much more importance of X-ray contrast media. That didn't happen before. Today, let's say that you have some changes in the market. What we have seen is that marginal projects are not there, when they arrive, normally they are higher cost than before, that also puts some pressure in the price structure, let's say. Today, well, we are confident because of the matter of supply and demand. In Q1, we saw a very strong demand.
We believe that the market growth in Q1 more than 3%, that sustain, that we believe that this year the market will grow 3%. In the meantime, that happened, and the supply is not there. We believe that, well, everything is there to maintain this level of prices.
Thank you. Then my final question is on Salar Futuro. Can you just remind us what the CapEx spend looks like and the timing of the outflow? The real question is to do with inflation, whether it's the impact of what's happened with respect to the Iran war or whether it's tariffs or whether it's general inflation. We're seeing CapEx for projects around the world increase. Can you talk about what impact inflation is going to have on the Salar Futuro project and how that could impact returns? Thank you.
Hello, Ricardo Ramos speaking. As you may know, we expect to file the environmental study of Salar Futuro in the next few months, probably before the end of the third quarter. We're assessing now what is going to be the total investment, and our first estimate is in the range of $3 billion, the investment in Salar Futuro. You are right in terms that there is a lot of uncertainty in the world in terms of cost, in terms of the pricing of raw material, and everything. We don't have a full understanding of how long it will take to solve these issues that we are facing today, especially because of the war. Yes, inflation is an issue, but inflation also is affecting the price of our different commodities.
That's why if the total investment is affected by inflation, and it will be, of course, pricing of the different products that we sell worldwide, like iodine, lithium, everything will be affected by the inflation, means will increase accordingly. That's why we do not expect that the project will be affected in terms of the return of the profitability of the project. I think it's going to be an extremely good project. We are very proud of the new technology that we will implement. We are doing things very well in the Salar de Atacama as we speak. We're moving as far as we can. Of course, the environmental study and environmental review of a project like that takes some time. We think that during the year 2029, we'll have the final approval. That's what we expect. We will start investment in the Salar Futuro project during 2030.
Everything is according to our original plan with Codelco. I think that we're just a little better in the plan because we have been working very hard together. I think everything is moving in the right direction.
Thank you very much.
Thank you. Our next question is from the line of Corinne Blanchard with Deutsche Bank. Please proceed.
Hi. Good morning, everyone. Thank you for taking my question. Can you talk about the lithium volume outlook arrays? You're now targeting 15% up year-over-year, which would bring you almost close to the 300 kiloton. Can you first talk about the cadence? Are we seeing that increase already starting in 2Q, or is it more like a second half of the year story? Then is it coming? Those volumes, are they coming from a production, or is you also maybe offloading some of your inventory? Thank you.
Hey, Corinne, Pablo Hernández speaking. We're expecting strong sales volumes in Q2 2026. We hope to surpass the sales volume of Q1 2025 by more than 10%, hitting a record volume for any past calendar quarter. We continue maximizing our sales volume as we have consistently done over the years, following our decision to operate at full capacity and expanding it in line with the anticipated market growth. Ensuring we're always prepared to meet our customers' needs. Aligned with that strategy, we feel confident that we will successfully allocate in the market the additional production that we expect to achieve this year, which is going to be over 270,000 metric tons coming from the Salar de Atacama. There's significant appetite for lithium units in the market.
Thank you. Sorry, I wanted to. Two questions for you, maybe. Spodumene price at month's end. If you compare versus some of your peers, I think you have got a much lower price. Can you maybe comment on the driver and the why here, and how do you view that for the rest of the year? Quick, another question. I want to go back on the capital allocation. I know, Gerardo, you mentioned you haven't yet decided if it's going to be special dividends. If it's not special dividends, what are you going to do with the cash? Thank you.
Hey, Corinne. Andrés Fontannaz from International Lithium speaking. Regarding your question on spodumene price, well, the difference between our realized price for concentrate and the quarterly average of some of the indexes is mainly explained by two factors. First, you have the market volatility during the last few months. For example, in December, you saw prices at around $1,300. In March, it was more than $2,000. The realized price for any given producer depends on the timing of the negotiations and the shipments within that price cycle. Second, spodumene shipments are not continuous or evenly distributed month to month.
When you combine strong price recovery with the lumpy nature of the shipments, you can see some difference between the reported realized prices and the quarter average of some of the market benchmarks. From a commercial standpoint, we remain comfortable with our positioning, as we continue to optimize both the timing and flexibility between spodumene and downstream hydroxide sales.
Hi, Corinne, this is Gerardo. Regarding your question about the capital allocation, I think there are a few things that have to be considered. First, given what Pablo just mentioned about higher volume sales from Salar de Atacama, and with these price levels, our payments to Corfo, the government of Chile, and our local communities will be higher than last year and probably higher than the first quarter in the upcoming quarters. We will have a lot of need for cash to basically comply with these obligations.
Second, we have a high CapEx program. We are expanding capacity in Chile. We're working on initiatives in the iodine operations as well as in the international lithium division. Of course, we have a dividend policy that considers payments of dividends at the year-end. Well, it's approved at the shareholders' meeting and is paid right after. In the past, we have made interim dividend payments when we have seen the opportunity to do so. Of course, this year, we are assessing that. This is just the first quarter of the year. The board will reconvene, and we'll discuss opportunities, and if appropriate, interim dividends will be paid. Otherwise, we will see a final dividend paid at the end of the fiscal year.
Thank you, guys.
Thank you. One moment for our next question. It comes from Isabella Simonato with Bank of America. Please proceed.
Hi, everyone. Thank you for taking my question. Just if you could give a little bit more details about taxes paid in the quarter, so effective tax rate was higher than what you usually have. If you can provide a little bit more details about why that happened in the quarter. Second, back to the SQM business. As you said, you are more optimistic about sales and share gains and pricing of fertilizers in general have definitely been a theme, given the war. If you can comment also on how do you see prices evolving throughout the year would be helpful. Thank you.
Hi, Isabella, Gerardo speaking. Regarding the taxes that we pay, it's important to keep in consideration that within the tax line, of course, we have the corporate income tax that we pay in Chile, which is 27%, along with the taxes that we pay abroad, which of course, it varies by jurisdiction, but we can say that on average it's something around 30%. On top of that, we pay a mining royalty in Chile. This mining royalty is basically a function of the profitability of the business. The higher the profitability of the business, the higher the bracket you fall in. Basically, that profitability is considered or is calculated based on the total revenues you get on the exports of products from Chile and the cost that we have on those products, excluding the payments that we make to Corfo.
With the higher prices of lithium that we saw during the first quarter, the profitability of the lithium business went up. Because of that, the lithium mining royalty that was paid during the first quarter of this year, or not paid, but accrued during the first quarter of this year, is higher than what it was in the past.
Hello, Isabella, Pablo Altimiras speaking. Well, regarding your question, we are optimistic regarding the price trends in our specialty fertilizers business. The reason is what we already explained. Today, we have a lack of supply because of the China situation. On top of that, the environment, because of the war, is affecting our raw materials or other fertilizers that are related with our potassium nitrate business. One example is the price of potassium sulfate; it is growing. Because of that, today, support the potassium nitrate price trend. We are optimistic, and we believe that the price will continue increasing in the next quarters.
Thank you very much. Gerardo, can you give us a ballpark about how can we think about mining taxes, the rate? I know that it was something between 8% and 10%; I just wanted to double-check.
Well, of course, all of this is public information, and you can find how this is exactly calculated on public records. The mining royalty goes between 0%-14%, and currently, based on the profitability of the business, it is between 11%-12%. Out of the profit that we get on the lithium business, excluding the Corfo payments.
Super clear. Thank you very much.
Thank you. Our next question comes from Emerson Vieira with Goldman Sachs. Please proceed.
Hello, good morning. I have two questions on Mount Holland. The first one, just trying to understand here when you guys expect to carry on with the expansion, given that we saw news that the expansion was recently approved by regulators. Just on timing for the Mount Holland expansion, what is the all-in cost that the operation is running right now? Thank you.
Thanks, Emerson, for the question. Andrés Fontannaz speaking. Regarding the expansion, we continue executing the plan and expect to present the Mount Holland expansion for the board's review and decision early in Q3 2026. Regarding permitting, that's progressing well, and it's currently under a public review period. At this stage, we do not have access to see if any appeals have been lodged. Once the appeals period officially closes, which is at midnight on May 28th, we will request confirmation of whether any appeals were submitted. In parallel, you know that we remain focused on sustaining full-capacity operations at the existing mine and concentrator. Regarding cost, we do not comment on the specific costs for that operation.
Okay. Thank you. Very clear. Can you share with us what would be the ballpark CapEx for the expansion? I know studies are ongoing, but any number here could be very helpful.
Regarding the CapEx, we are working it. It will be presented for the board. As commented previously, what is considered for next year is $200 million. That is only for 2027. That is the SQM share for that.
Okay. Thank you very much.
Thank you so much. As a reminder, if you do have a question, please press star one one to get in the queue. Our next question is from Juraj Domic with LarrainVial. Please proceed.
Hello. Good evening, and thanks for taking our questions. I have two of them. The first one is on cash cost. This excludes the depreciation and CORFO payments. We saw a significant improvement in lithium and also a weaker performance in iodine. My question is, what should we expect for the rest of 2026? Perhaps moving to my second question. In previous conference calls, you've mentioned that the BESS application accounts for around 20% of the total demand of lithium. What would you say this BESS share is so far in 2026? Thank you.
Hello, Juraj. Regarding the cash cost or operating cost, I'm speaking about Novandino. As a consequence of continued efficiency and improvement processes, together with the economies of scale and our increased production levels, we have indeed consistently been able to make cost improvements. We expect the 2026 cost to be lower than the one we had in 2025. This is, of course, aligned with our production strategy of increasing production at low cost.
Hello, Juraj. Max Vial speaking. Regarding the best participation in the demand of the market for lithium, we expect something around 30% for BSS overall demand.
Hello, Juraj. Pablo Altimiras speaking. Regarding your question about the iodine increase. Well, first of all, I would remind you that the increase is not too much, but there are some explanations for that. The first one is that we are producing quite a bit of volume. Remember that we intend this year to produce more than 15,000 MT of iodine. That means that we are using some marginal facilities that have higher costs. Second, well, we are in the ramp-up of Maria Elena, so that means that we have some specific costs related to the ramp-up.
Third, what we cannot forget is that because of the situation of the war, the cost of some raw materials, mainly fuel, which is very important for our mining activity, it will increase. Those are the reasons. However, as always, we are working on different initiatives to control the cost increase.
Perfect. Thank you very much.
Thank you so much. Ladies and gentlemen, this will conclude our Q&A session and conference for today. We want to thank everyone for participating. You may now disconnect
Investor releaseQuarter not tagged2026-05-26SQM Reports Earnings for the Three Months Ended March 31, 2026
GlobeNewswire
SQM Reports Earnings for the Three Months Ended March 31, 2026
SANTIAGO, Chile, May 26, 2026 (GLOBE NEWSWIRE) -- Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) reported today net income for the three months ended March 31, 2026, of US$364.7 million or US$1.28 per share, an increase of 165.2% compared to US$137.5 million or US$0.48 per share reported for the same period last year. Gross profit(1) reached US$778.6 million (44.2% of revenues) for the three months ended March 31, 2026, higher than US$304.7 million (29.4% of revenues) recorded for the three months ended March 31, 2025. Revenues totaled US$1,760.1 million for the three months ended March 31, 2026, representing an increase of 69.8% compared to US$1,036.6 million reported for the three months ended March 31, 2025. SQM’s Chief Executive Officer, Ricardo Ramos, stated, “We delivered strong results during the first quarter of the year. In lithium, sales volumes reached approximately 69 thousand metric tons of LCE across our operations, as we continued to operate at full capacity to meet strong customer demand. Based on our current estimates, global lithium demand could exceed 1.9 million metric tons of LCE this year, while market dynamics continue to suggest a tight supply-demand balance. As a result, we have upgraded our sales volume guidance for the year, increasing our expected growth from 10% to 15%.” He added, “The first quarter of 2026 marked our first full quarter operating alongside CODELCO through our partnership Nova Andino Litio, and the results underscore the strength of this partnership. We are operating at full capacity, delivering strong financial results, while we continue to expand production capacity. In the first quarter alone, Nova Andino Litio generated more than US$530 million in contributions to the Chilean state, including payments to CORFO, local governments, and taxes.” “We are currently finalizing the documentation required to begin the environmental permitting process for the Salar Futuro project. We expect to submit the project to the environmental authorities in the coming months and to share further details with the market in the near term. This project will be developed by Nova Andino, and we are very enthusiastic about its potential to establish a new benchmark in lithium production.” Mr. Ramos continued, “In our SPN business lines, we are also increasing our sales volume guidance f...
Investor releaseQuarter not tagged2026-05-13Innospec Q1 Earnings Beat Estimates, Sales Rise Y/Y On FX Tailwinds
Zacks
Innospec Q1 Earnings Beat Estimates, Sales Rise Y/Y On FX Tailwinds
Innospec Inc. IOSP earnings per share (as reported) for the first quarter of 2026 declined to $1.22 per share from $1.31 a year ago. Adjusted earnings per share declined 26% to $1.05 per share from $1.42 a year ago. It beat the Zacks Consensus Estimate of $1.02 per share. Revenues for the first quarter rose 3% year over year to $453.2 million, beating the Zacks Consensus Estimate of $432.2 million. Adjusted EBITDA declined 19% year over year to $43.7 million. Operating income declined 14% to $36.5 million. Innospec Inc. price-consensus-eps-surprise-chart | Innospec Inc. Quote Fuel Specialties revenues rose 7% year over year to $181.6 million, driven by volume growth of 10% and a favorable currency impact of 6%, offset by an adverse price/mix of 9%. Gross margin compressed 0.3 percentage points to 35.4% and operating income increased 2% to $37.8 million. Performance Chemicals revenues rose 1% to $169.4 million as volume declines of 9% were offset by positive price/mix of 1% and favorable currency impact of 9%. Gross margin declined 4.2 percentage points to 16.8% and operating income fell 46% to $10.7 million, adversely impacted by shutdowns at the North Carolina plants due to the January 2026 U.S. winter storm. Oilfield Services revenues were essentially flat at $102.2 million. Gross margin improved 1.7 percentage points to 30.1% on a richer sales mix, and operating income increased 37% to $5.6 million, although results were also negatively impacted by the winter storm. Operating cash flow was $17.6 million versus $28.3 million in the year-ago quarter. The company ended the quarter with cash of $289.1 million and no debt. In the first quarter, the effective tax rate was 22.8% compared with 25.7% in the year-ago quarter. The company increased its semi-annual dividend by 10% to 92 cents per share, repurchased $6.2 million of shares in the quarter and announced a new $75 million buyback authorization. Management expects sequential growth in the second quarter from Performance Chemicals, supported by plant repairs, pricing/mix opportunities and margin initiatives. For Oilfield Services, the company remains cautiously optimistic that recent DRA expansion and opportunities in completions and production will drive sequential improvement in the second quarter and position the business for further improvement in the second half of 2026. Fuel Specialties is expected to...
Investor releaseQuarter not tagged2026-05-13OEC Q1 Earnings Miss on Lower Pricing, Sales Down Y/Y
Zacks
OEC Q1 Earnings Miss on Lower Pricing, Sales Down Y/Y
Orion S.A. OEC posted an adjusted loss of 11 cents per share in the first quarter of 2026 compared with adjusted earnings of 22 cents a year ago. The result missed the Zacks Consensus Estimate of 19 cents by 157.9%. Net sales were $459.5 million, down 3.8% year over year, and came in 0.5% below the consensus estimate of $461.9 million. Total volumes rose 1.9% to 256.5 thousand metric tons as demand strengthened late in the quarter. Management pointed to lower pricing tied to oil pass-through and an unfavorable mix as the primary headwinds, even as shipments improved late in the period. That pricing backdrop also weighed on profitability, particularly in Rubber Carbon Black, where the company cited calendar 2026 agreements and regional mix as major drags. Specialty Carbon Black was steadier, supported by the mix and favorable foreign exchange. Orion S.A. price-consensus-eps-surprise-chart | Orion S.A. Quote Specialty Carbon Black delivered improved results, helped by stronger volumes and a favorable mix. Segment net sales increased 5.6% year over year to $169.7 million, while volumes rose 3.4% to 64 kmt. Adjusted EBITDA grew 6.7% to $27.1 million, supported by mix and positive foreign exchange, partially offset by absorption headwinds tied to inventory draw. Rubber Carbon Black remained the key pressure point. Segment net sales fell 8.6% to $289.8 million despite a 1.4% volume increase to 192.5 kmt. Adjusted EBITDA dropped 53.4% to $19 million as lower 2026 contractual prices, adverse regional mix and the pass-through effect of lower year-over-year oil costs more than offset the volume benefit. OEC recorded free cash outflow of $48.5 million in the quarter, reflecting typical seasonality and working-capital use. Net cash used in operating activities was $12.4 million, consistent with the company’s quarterly capital spending of $36 million. Net debt ended the quarter at $965.3 million, and the net debt-to-adjusted EBITDA ratio was 4.2x. For 2026, OEC now expects adjusted EBITDA of $170-$210 million, up from the prior view of $160-$200 million. The company reiterated capital expenditures of about $90 million. Orion also updated its free cash flow framework, now calling for free cash outflow of $25-$50 million versus its prior expectation of free cash flow of $25-$50 million. Shares of Orion have lost 33.8% in the past year against the 5.8% growth of the industr...
Investor releaseQuarter not tagged2026-05-13Tronox Q1 Earnings Miss Estimates, Sales Rise Y/Y On Higher Volumes
Zacks
Tronox Q1 Earnings Miss Estimates, Sales Rise Y/Y On Higher Volumes
Tronox Holdings Plc TROX logged a loss (as reported) of 65 cents per share for the first quarter of 2026, wider than a loss of 70 cents reported a year ago. Barring one-time items, adjusted loss for the reported quarter was 55 cents per share compared with a loss of 15 cents a year ago. It was wider than the Zacks Consensus Estimate of a loss of 48 cents. The company raked in revenues of $760 million, up around 3% year over year. It beat the Zacks Consensus Estimate of $758.5 million. Higher TiO2 and zircon sales volumes and favorable currency impact more than offset lower average selling price and product mix impact. Adjusted EBITDA was $62 million, down 45% year over year, with an adjusted EBITDA margin of 8.2%. The downside was due to lower average selling prices, including mix, unfavorable exchange rate movements and higher freight and production costs. Tronox Holdings PLC price-consensus-eps-surprise-chart | Tronox Holdings PLC Quote TiO2 sales were $616 million in the reported quarter, up 5% year over year. TiO2 volumes rose 5% year over year, while price/mix was down 4%. Currency was 4% favorable. Zircon sales were $89 million, up 29% year over year. Sales were supported by 57% volumes growth, offset by 28% price/mix decline. Cash and equivalents were $126 million as of March 31, 2026. Total debt was $3.3 billion at the end of the year, while net debt was $3.2 billion. Operating cash used was $68 million for the first quarter, while free cash flow was negative $135 million. Management expects a stronger second quarter with improving demand pricing and cash generation. The company expects free cash flow to turn positive in quarter two and largely offset the cash use in the first quarter while also targeting meaningful positive free cash flow for full-year 2026. TiO2 volumes are projected to rise sequentially in the high-single-digit percentage range while zircon volumes are expected to moderate slightly from first-quarter levels. Both TiO2 and zircon pricing are expected to improve in the mid-single-digit percentage range due to announced price increases and cost-related surcharges. Supported by stronger pricing and higher TiO2 volumes, Tronox expects adjusted EBITDA of $65 million to $85 million for the second quarter of 2026. Shares of Tronox have risen 57.4% in the past year compared with the industry’s 18.6% growth. Image Source: Zacks Investment R...
Investor releaseQuarter not tagged2026-05-13KRO's Q1 Earnings Beat Estimates on Cost Actions, Sales Miss
Zacks
KRO's Q1 Earnings Beat Estimates on Cost Actions, Sales Miss
Kronos Worldwide, Inc. KRO reported a first-quarter 2026 net loss of 4 cents per share, narrower than the Zacks Consensus Estimate of a loss of 33 cents. Earnings delivered a positive surprise of 87.9%. Net sales were $509.8 million, up 4.1% year over year, but missed the consensus mark of $523.8 million by 2.7%. The quarter reflected improving cost performance, while weaker year-over-year pricing and lower production weighed on profitability. Kronos Worldwide Inc price-consensus-eps-surprise-chart | Kronos Worldwide Inc Quote TiO2 sales volumes rose 4.4% year over year to 142 thousand metric tons in the quarter, supported by higher volumes in North American, Latin American and export markets. Production volumes, however, declined 10.5% to 128 thousand metric tons, reflecting lower operating rates. On pricing, the company started 2026 with average TiO2 selling prices below the beginning of 2025. Management noted that average TiO2 selling prices increased 2% during the quarter as it works to recover pricing lost during 2025, but pricing remained a year-over-year headwind to both sales and profits. Kronos reported TiO2 segment profit of $15.1 million in the first quarter, down from $41.6 million a year ago. Management attributed the decline primarily to lower average TiO2 selling prices, lower production volumes and an unfavorable currency impact, partially offset by higher sales volumes and lower production costs. Kronos ended the quarter with cash and cash equivalents of $25.7 million as of March 31, 2026, down from $33.2 million at the end of 2025. Long-term debt stood at $602.7 million as of March 31, 2026, up from $557.4 million as of Dec. 31, 2025. Management emphasized continued execution on pricing and cost initiatives as the key operational priorities following the restructuring actions taken late in 2025. Additional increases will be needed as selling prices remain below 2025 levels. Kronos expects gross margin to improve as higher-cost inventory produced in late 2025 works through the system and it realizes the benefit of lower-cost production in 2026, though it is beginning to see higher shipping and production costs tied to Middle East-related supply disruptions and higher energy and raw material costs, particularly in Europe. Customers are still cautious on inventories, but longer lead times and a higher backlog entering 2026 have improved near-t...
Investor releaseQuarter not tagged2026-05-12Barrick Mining's Q1 Earnings and Sales Beat on Higher Gold Prices
Zacks
Barrick Mining's Q1 Earnings and Sales Beat on Higher Gold Prices
Barrick Mining Corporation B recorded profits (on a reported basis) of $1,602 million or 96 cents per share for first-quarter 2026, up from $474 million or 27 cents per share in the year-ago quarter. Barring one-time items, adjusted earnings per share were 98 cents. The figure beat the Zacks Consensus Estimate of 74 cents. Barrick recorded total sales of $5,218 million, up 67% year over year. The metric surpassed the Zacks Consensus Estimate of $4,533.5 million. Barrick Mining Corporation price-consensus-eps-surprise-chart | Barrick Mining Corporation Quote Total gold production was 719,000 ounces in the reported quarter, down around 5.1% year over year. The figure beat the Zacks Consensus Estimate of 655,000 ounces. The average realized price of gold was $4,823 per ounce in the quarter, up around 66.4%. The cost of sales increased around 18% year over year to $1,922 per ounce. All-in-sustaining costs (AISC) moved down 4% to $1,708 per ounce in the quarter. At the end of the quarter, Barrick had cash and cash equivalents of $7,131 million, up 74% from the prior-year quarter. The company’s total debt was $4,726 million at the end of the quarter, essentially flat year over year. The operating cash flow was $2.55 billion for the quarter, whereas the free cash flow was $1.58 billion. For 2026, Barrick anticipates attributable gold production to be in the range of 2.9-3.25 million ounces. For the second quarter of 2026, gold production is expected to be in the range of 730,000-770,000 ounces. AISC is projected at $1,760-$1,950 per ounce for 2026. Cash costs per ounce are forecast to be $1,330-$1,470. The company also expects to see a cost of sales of $1,870-$2,070 per ounce. Barrick expects copper production of 190,000-220,000 tons at AISC of $3.45-$3.75 per pound, C1 cash costs of $2.20-$2.45 per pound and cost of sales of $3.05-$3.35 per pound for 2026. B’s shares have gained 158.8% in the past year compared with the industry’s 93.3% rise. Image Source: Zacks Investment Research B currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks worth a look in the basic materials space are Sociedad Quimica y Minera de Chile S.A. SQM, Idaho Strategic Resources, Inc. IDR and Hawkins, Inc. HWKN. Sociedad is slated to report first-quarter 2026 results on May 26. The Zacks Consensus Estimate for loss is pegged at $1.78 per share, indicating 270.8% year-over-year...
Investor releaseQuarter not tagged2026-05-12Century Aluminum Q1 Earnings Miss Estimates, Sales Rise Y/Y
Zacks
Century Aluminum Q1 Earnings Miss Estimates, Sales Rise Y/Y
Century Aluminum Company CENX reported earnings of $3.23 per share for the first quarter of 2026. It compares favorably with the prior-year quarter’s earnings of 29 cents. Barring one-time items, adjusted earnings came in at $1.06 per share. The bottom line missed the Zacks Consensus Estimate of $1.16. Adjusted EBITDA was $231.4 million, up from $78 million in the prior-year quarter. Century Aluminum Company price-consensus-eps-surprise-chart | Century Aluminum Company Quote The company reported net sales of $649.2 million, up 2.4% year over year. However, the figure missed the Zacks Consensus Estimate of $652.2 million. The increase in sales was driven by higher aluminum prices, which more than offset lower shipment volumes. Primary aluminum shipments were 122,865 tons, down around 27% year over year and around 12% sequentially. At the end of the quarter, the company had cash and cash equivalents of $244.1 million, up 81.9% from the previous quarter. The company forecasts second-quarter 2026 adjusted EBITDA to be in the range of $315 million to $335 million, supported by higher realized LME and regional premiums, energy benefits and favorable volume/mix, partly offset by raw material costs and OPEX/other items. Shares of Century Aluminum have risen 250.3% in the past year compared with the industry’s 55.8% growth. Image Source: Zacks Investment Research CENX currently sports a Zacks Rank #1 (Strong Buy). Other top-ranked stocks worth a look in the basic materials space are Sociedad Quimica y Minera de Chile S.A. SQM, Idaho Strategic Resources, Inc. IDR and Hawkins, Inc. HWKN. Sociedad is slated to report first-quarter 2026 results on May 26. The Zacks Consensus Estimate for loss is pegged at $1.78 per share, indicating 270.8% year-over-year growth. SQM has a Zacks Rank #2 (Buy) at present. Idaho is expected to report first-quarter 2026 results on May 14. The Zacks Consensus Estimate for earnings is pegged at 43 cents per share, indicating 258.3% year-over-year growth. IDR sports a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here. Hawkins is scheduled to report fiscal fourth-quarter results on May 13. The Zacks Consensus Estimate for HWKN’s fourth-quarter earnings is pegged at 76 cents per share. HWKN currently has a Zacks Rank #2. Want the latest recommendations from Zacks Investment Research? Today, you can downl...
Investor releaseQuarter not tagged2026-05-11ArcelorMittal's Q1 Earnings Top Estimates, Sales Miss on Lower Volumes
Zacks
ArcelorMittal's Q1 Earnings Top Estimates, Sales Miss on Lower Volumes
ArcelorMittal S.A. MT recorded first-quarter 2026 net income of $575 million or 75 cents per share. This compares unfavorably with net income of $805 million or $1.04 per share in the year-ago quarter. Barring one-time items, the company recorded adjusted earnings of 76 cents per share. The bottom line beat the Zacks Consensus Estimate of 72 cents. Total sales were up around 4% year over year to $15,457 million In the quarter. The figure missed the consensus estimate of $15,670.9 million. Total steel shipments fell around 6% year over year to 12.8 million metric tons in the reported quarter. ArcelorMittal price-consensus-eps-surprise-chart | ArcelorMittal Quote North America: Sales were up around 15% year over year to $3,297 million in the reported quarter. The figure missed the consensus estimate of $3,406 million. Crude steel production fell around 5% to 2,134 million metric tons. Steel shipments were down around 1% year over year to 2,624 million metric tons, lagging the consensus estimate of 2,671 million metric tons. The average steel selling price rose around 21% to $1,089 per ton. Brazil: Sales were up around 6% year over year to $2,809 million, surpassing the consensus estimate of $2,533 million. Crude steel production declined around 2% to 3,514 million metric tons. Shipments increased around 9% year over year to 3,432 million metric tons, surpassing???the consensus estimate of 3,220 million metric tons. Average steel selling prices fell around 5% to $739 per ton. Europe: Sales rose around 3% year over year to $7,446 million. The figure missed the consensus mark of $7,652 million. Crude steel production declined around 14% to 6,832 million metric tons in the reported quarter. Shipments declined around 6% year over year to 7,108 million metric tons, missing the consensus mark of 7,259 million metric tons. The average steel selling price increased around 12% year over year to $931 per ton. Mining: Sales rose around 25% year over year to $917 million, surpassing the consensus estimate of $851 million. Iron ore production totaled 9.7 million metric tons, up around 15% from the year-ago quarter’s levels. Iron ore shipments were up 25% year over year to 10 million metric tons. At the end of the reported quarter, cash and cash equivalents were $4,359 million compared with $5,476 million at the end of the prior quarter. The company’s net debt was around $9....