Chile · Delayed Price · Currency is CLP Sociedad Química y Minera de Chile Earnings Call Transcripts
Fiscal Year 2026
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Strong Q1 2026 results driven by higher lithium, iodine, and SPN volumes and prices, with raised guidance for lithium and SPN sales. Novandino Lithium partnership and expansion projects support future growth, while inflation and market volatility remain key risks.
Fiscal Year 2025
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2025 saw record lithium and iodine performance, with revenues of $44.6B and net income of $588M. Strong lithium demand and pricing are expected to continue in 2026, with production targeting 260,000 tons LCE and 80% of volume already contracted.
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Record lithium sales and higher realized prices marked Q3 2025, with robust demand from EV and ESS markets. Iodine and plant nutrition segments also performed strongly, and major capacity expansions are underway. Codelco JV approval and a $2.7B CapEx plan support future growth.
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Q2 revenue fell over 30% year-over-year due to lower lithium prices, but recent weeks saw price and demand recovery, especially in China. Iodine led profitability with a 57% margin, and full-year lithium sales are expected to rise at least 10%.
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Record Q1 lithium sales volumes and strong iodine performance offset lower potassium volumes and declining lithium prices. Cost leadership and robust balance sheet support ongoing capacity expansions, with a positive long-term outlook despite near-term price pressures.
Fiscal Year 2024
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2024 saw record lithium and iodine sales volumes, with revenues over $4.5B and a $1.1B one-time charge impacting net income. Major investments continue in lithium and iodine capacity, with stable lithium prices and strong demand growth expected for 2025.
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Volumes grew across most business lines, with Specialty Plant Nutrition and lithium showing strong year-over-year growth despite lower prices. Lithium demand remains robust, driven by EVs, but prices are pressured by oversupply. The company is ramping up Mount Holland and expects continued production growth.
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Record lithium and iodine sales volumes were achieved, but net income remains negative due to a $1.1B impairment and new mining tax. Lithium prices are declining, prompting reassessment of some initiatives, yet long-term expansion and CapEx plans continue.