SQM Q3 Profit Drops - Quick Facts

(RTTNews) - Sociedad Química y Minera de Chile S.A. (SQM) (SQM) announced earnings for the third quarter of 2023 of US$479.4 million or US$1.68 per share, down from US$1.10 billion or US$3.85 per share in the third quarter of 2022.

The third quarter 2023 results were impacted by significantly lower average sales prices in lithium and fertilizer business lines, partially offset by higher sales volumes, when compared to the same period last year, and higher iodine sales prices.

Revenues were US$1.84 billion for the third quarter of 2023, a decrease of approximately 37.8% from the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $2.11 per share and revenues of $1.90 billion for the third quarter. Analysts' estimates typically exclude special items.

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