Key Takeaways
- SQM earnings per share in Q3 was 46 cents, far under the Zacks estimate of 64 cents
- TSQM shares have misplaced 23.6% the previous yr in contrast with the Fertilizers business decline of 13.1%.
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Sociedad Quimica y Minera de Chile S.A. SQM logged a revenue of $131.4 million or 46 cents per share in third-quarter 2024. The determine marks a decline from a revenue of $479.4 million or $1.68 per share registered within the year-ago quarter. Earnings per share additionally fell in need of the Zacks Consensus Estimate of 64 cents per share.
Discover the newest EPS estimates and surprises on Zacks Earnings Calendar.
SQM generated revenues of $1,076.9 million within the quarter, down round 41% yr over yr. The determine missed the Zacks Consensus Estimate of $1,090.2 million. Whereas SQM noticed quantity development in nearly all of its enterprise strains, it confronted headwinds from weaker year-over-year pricing within the quarter.
Sociedad Quimica y Minera S.A. Worth, Consensus and EPS Shock
Sociedad Quimica y Minera S.A. price-consensus-eps-surprise-chart | Sociedad Quimica y Minera S.A. Quote
SQM’s Phase Highlights
Revenues from the Lithium and Derivatives section fell round 61% yr over yr to $497.2 million within the reported quarter. Regardless of a roughly 18% improve in lithium gross sales volumes, the draw back was attributable to a pointy 67% discount in common gross sales costs.
The Specialty Plant Vitamins (SPN) section generated revenues of $249.1 million, up round 12% yr over yr. This upside was pushed by larger gross sales volumes, although it was partly tempered by decrease common gross sales costs.
The Iodine and Derivatives section posted revenues of $233.5 million, up round 10% from the prior yr’s ranges, benefiting from larger gross sales volumes.
Revenues from the Potassium enterprise fell round 9% yr over yr to $68.2 million as larger gross sales volumes have been greater than offset by decrease common gross sales costs.
The Industrial Chemical compounds unit recorded gross sales of $18.6 million, down roughly 57% yr over yr. The draw back was on account of considerably decrease gross sales volumes regardless of larger common gross sales costs.
SQM’s Financials
The corporate’s money and money equivalents have been $1,565.4 million on the finish of the quarter, up round 52% sequentially. Lengthy-term debt was $3,784.4 million, up roughly 28% from the prior quarter.
SQM’s Outlook
SQM reaffirmed its lithium quantity steerage, anticipating between 190,000-195,000 thousand metric tons of product offered this yr.
For the SPN unit, the corporate expects its gross sales volumes to surpass its projected market development of 17% for 2024. SQM sees its gross sales volumes develop round 20% year-over-year in 2024.
The corporate additionally expects the typical realized gross sales costs within the Iodine and Derivatives section to be larger sequentially within the fourth quarter of 2024. It’s seeing a powerful demand development within the iodine market primarily pushed by X-ray distinction media and different industrial functions and expects the iodine market to develop roughly 7% yr over yr in 2024.
SQM now expects its potassium gross sales volumes to succeed in 620,000 metric tons in 2024 factoring within the delay within the cargo of product rescheduled for 2025.
SQM Inventory’s Worth Efficiency
SQM’s shares have misplaced 23.6% over a yr in contrast with the Zacks Fertilizers business’s decline of 13.1%.
Picture Supply: Zacks Funding Analysis
SQM’s Zacks Rank & Different Fundamental Supplies Releases
SQM at the moment carries a Zacks Rank #3 (Maintain). You may see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DuPont de Nemours, Inc. DD logged adjusted earnings of $1.18 per share within the third quarter, topping the Zacks Consensus Estimate of $1.04. DD raised its full-year 2024 projections for working EBITDA and adjusted earnings per share.
The Chemours Firm CC recorded adjusted earnings of 40 cents for the third quarter, topping the Zacks Consensus Estimate of 32 cents. CC expects consolidated web gross sales to say no within the mid to high-single digits sequentially within the fourth quarter. Consolidated adjusted EBITDA is forecast to be down within the excessive teenagers to low 20% vary in contrast with third-quarter 2024 outcomes.
PPG Industries, Inc. PPG logged third-quarter adjusted earnings per share of $2.13, lacking the Zacks Consensus Estimate of $2.15. PPG anticipates flat natural gross sales and adjusted earnings per share on the backside finish of the $8.15 to $8.30 vary for full-year 2024.
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
