SQM Reports Revenue Drop Amid Falling Lithium Prices

Sociedad Quimica Y Minera SA (SQM) has released an update.

Sociedad Química y Minera de Chile S.A. (SQM) reported a significant decline in revenues and earnings for the first nine months of 2024 compared to the previous year, with revenues dropping to $3.455 billion and a net loss of $524.5 million, down from a net income of $1.809 billion. Despite strong demand in lithium, iodine, and fertilizers, falling lithium prices and market oversupply have impacted financial performance. The company remains optimistic about long-term growth in the lithium market, driven by the clean energy transition.

For further insights into SQM stock, check out TipRanks’ Stock Analysis page.