Sociedad Química y Minera de Chile (NYSE: SQM) reported a record Q2 2026 earnings, with revenue reaching $2.47 billion, surpassing estimates of $2.24 billion by 10.3%. The company’s adjusted earnings per share (EPS) hit $2.31, exceeding expectations of $2.04. Key drivers were the lithium segment, generating $1.78 billion—up 300% year-over-year—alongside iodine, which posted $578.10 million in revenue.
The lithium segment’s sales volume exceeded 84,000 metric tons, with average realized prices at about $21.80 per kilogram, a 23% increase from the previous quarter and 160% higher than last year. In addition, iodine prices reached an all-time high of $73.40 per kilogram, contributing to 16% of SQM’s gross margin in the first half of 2026.
SQM’s stock demonstrated continued volatility, trading near $76 following the earnings report while remaining above the consensus price target of $73.58. The company anticipates full-year global lithium demand exceeding 2.1 million metric tons and continues to invest significantly in its lithium business, with approximately 60% of its $3 billion planned capital expenditures allocated to lithium projects.
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