Sociedad Quimica y Minera de Chile S.A. Q2 2026 Earnings Recap

SQM’s shares rose 5.3% following Q2 results driven by higher-than-expected lithium prices and record lithium sales volumes, which offset no meaningful change in overall cost guidance and solid performances in iodine and plant nutrition segments.

Key Takeaways

• Lithium sales volumes reached a record 84,000 metric tons of lithium carbonate equivalent, supported by strong market demand.
• Lithium prices increased during Q2, with expectations for prices to remain stable in Q3 based on indexed contracts.
• Novandino Litio projects 280,000–290,000 metric tons of lithium carbonate equivalent production in 2026, aiming for 300,000 metric tons capacity by 2027.
• Iodine production is ramping up with four operations now active; total output expected to hit approximately 15,500 metric tons in 2026.
• Specialty plant nutrition sales volumes projected to grow by roughly 10% year-over-year, benefiting from supply constraints that are expected to ease later in the year.