SQM (NYSE: SQM) reported strong results for the six months ended June 30, 2026, with revenues of US$4,228.5 million, up 103.4% from US$2,079.3 million a year earlier. Net income rose to US$1,024.7 million or US$3.59 per share, a 353.5% increase versus US$225.9 million or US$0.79 per share.
Gross profit reached US$2,038.6 million, representing 48.2% of revenues compared with 26.7% in the prior-year period. Second-quarter 2026 net income was US$660.0 million or US$2.31 per share, up 646.4% year-on-year. The company highlighted record lithium sales volumes above 84 thousand metric tons LCE, record iodine prices and quarterly revenue, and strong specialty plant nutrition volumes and prices.
During the first half of 2026, SQM and its subsidiaries accrued over US$1.6 billion in payments to the Chilean State. SQM will host a results conference call on August 19, 2026 at 12:00pm EDT.
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Positive
Revenues +103.4% to US$4,228.5m in H1 2026 vs. US$2,079.3m
Net income +353.5% to US$1,024.7m; EPS US$3.59 in H1 2026
Gross profit margin expansion to 48.2% from 26.7% year-on-year
Q2 2026 net income US$660.0m; +646.4% vs. Q2 2025
Lithium sales volumes record >84k metric tons LCE in Q2 2026
Over US$1.6bn accrued payments to Chilean State in H1 2026
Negative
None.
News Explained
The reported US$1.6 billion is an accrued obligation rather than wholly a cash payment: it includes corporate and mining taxes, Corfo-contract and local-government payments, and a dividend accrued for Codelco; some has already been paid.
Market Context
SQM's recent earnings history included both a 4.36% gain and a -0.88% move after comparable reports....
Analysis
SQM's recent earnings history included both a 4.36% gain and a -0.88% move after comparable reports. This report therefore sat within mixed precedent; lithium-price volatility and Chilean regulatory dependence remained risks to monitor.
Key Figures
Six-month revenue:US$4,228.5 millionSix-month net income:US$1,024.7 millionSix-month EPS:US$3.59 per share+5 more
8 metrics
Six-month revenueUS$4,228.5 millionSix months ended June 30, 2026; up 103.4% year over year
Six-month net incomeUS$1,024.7 millionSix months ended June 30, 2026; versus US$225.9 million prior year
Six-month EPSUS$3.59 per shareSix months ended June 30, 2026; versus US$0.79 prior year
Six-month gross profitUS$2,038.6 millionSix months ended June 30, 2026; 48.2% of revenues
Second-quarter net incomeUS$660.0 millionSecond quarter of 2026; versus US$88.4 million in Q2 2025
Second-quarter EPSUS$2.31 per shareSecond quarter of 2026; versus US$0.31 in Q2 2025
Lithium carbonate equivalent (LCE) is a standardized measure that converts the lithium contained in various minerals or chemical products into the amount that would be present as lithium carbonate. Like converting different currencies into a single unit to compare value, LCE lets investors compare production volumes, resource estimates and pricing across projects and product types, making forecasts and company statements easier to evaluate side-by-side.
joint venturefinancial
"Covalent Lithium is a joint venture between SQM and Wesfarmers Limited"
A joint venture is when two or more companies team up to work on a specific project or business idea, sharing both the risks and the rewards. It’s like friends starting a lemonade stand together—each contributes resources and they split the profits, making it easier to succeed than going alone.
SQM reported total revenues for the six months ended June 30, 2026 of US$4,228.5 million compared to total revenues of US$2,079.3 million for the same period last year.
Net income for the six months ended June 30, 2026 of US$1,024.7 million or US$3.59 per share, compared to US$225.9 million or US$0.79 per share for the same period last year.
In lithium: record-high quarterly sales volumes surpassing 84 thousand metric tons of Lithium Carbonate Equivalent (LCE).
In Iodine: record-high sales price and record quarterly revenue.
In Specialty Plant Nutrition: strong sales volumes and solid sales price.
During the first half of 2026, SQM and its subsidiaries accrued over US$1.6 billion in payments to the Chilean State.i
SQM will hold a conference call to discuss these results on Wednesday, August 19, 2026 at 12:00pm EDT (12:00pm Chile time).
SANTIAGO, Chile, Aug. 19, 2026 (GLOBE NEWSWIRE) -- Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) reported today net income for the six months ended June 30, 2026, of US$1,024.7 million or US$3.59 per share, an increase of 353.5% compared to US$225.9 million or US$0.79 per share reported for the same period last year.
Gross profit(1) reached US$2,038.6 million (48.2% of revenues) for the six months ended June 30, 2026, 267.2% higher than US$555.2 million (26.7% of revenues) recorded for the six months ended June 30, 2025.Revenues totaled US$4,228.5 million for the six months ended June 30, 2026, representing an increase of 103.4% compared to US$2,079.3 million reported for the six months ended June 30, 2025.
The Company also announced net income for the second quarter of 2026 of US$660.0 million or US$2.31 per share, an increase of 646.4% compared to US$88.4 million or US$0.31 per share for the second quarter of 2025. Gross profit for the second quarter of 2026 reached US$1,260.0 million, 398.1% higher than the US$253.0 million reported for the second quarter of 2025. Revenues totaled US$2,468.4 million for the second quarter of 2025, an increase of 136.7% compared to US$1,042.7 million for the second quarter of 2025.
SQM’s Chief Executive Officer, Ricardo Ramos, stated, “I am pleased to announce SQM’s second-quarter results. As we close the first half of the year and look ahead to the remainder of 2026, I am encouraged by the solid performance we have delivered across our main business lines.”
He added, “In lithium, we achieved record quarterly sales volumes of over 84 thousand metric tons of Lithium Carbonate Equivalent (LCE) from our lithium operations in Chile through Nova Andino Litioii and in Australia through Covalent Lithiumiii. As anticipated in our previous earnings report, prices increased during the second quarter, supported by stronger-than-expected market demand. We now expect global lithium demand to be over 2.1 million metric tons in 2026, further strengthening our confidence in the long-term fundamentals of the market.
i Includes accrued corporate income taxes and mining taxes (part of which has already been paid), and payments related to the Corfo contracts such as the lease payment (paid quarterly), and other accrued payments to local governments (paid annually) in connection with said contracts. This amount also includes the dividend accrued to be paid to Codelco. ii Nova Andino Litio (or Novandino) is the joint company between SQM and Codelco. iii Covalent Lithium is a joint venture between SQM and Wesfarmers Limited.
FAQ
How did SQM (SQM) perform financially in the first half of 2026?
SQM reported significantly higher results in the first half of 2026. According to SQM, revenues reached US$4,228.5 million, up 103.4% year-on-year, while net income rose to US$1,024.7 million and earnings per share were US$3.59.
What were SQM’s net income and EPS for Q2 2026 (SQM)?
SQM’s Q2 2026 earnings increased sharply versus 2025. According to SQM, net income for the second quarter of 2026 was US$660.0 million, equivalent to US$2.31 per share, compared with US$88.4 million or US$0.31 per share in Q2 2025.
How did SQM’s lithium business perform in Q2 2026?
SQM achieved record lithium sales volumes in Q2 2026. According to SQM, quarterly lithium sales exceeded 84 thousand metric tons of Lithium Carbonate Equivalent (LCE), supported by higher prices during the quarter and stronger-than-expected global market demand for lithium products.
What record results did SQM report in iodine and specialty plant nutrition in 2026?
SQM highlighted strong iodine and plant nutrition performance in early 2026. According to SQM, iodine operations delivered record sales prices and record quarterly revenue, while specialty plant nutrition reported strong sales volumes combined with solid sales prices across its main product lines.
How much did SQM pay or accrue to the Chilean State in the first half of 2026?
SQM and its subsidiaries accrued substantial obligations to the Chilean State in early 2026. According to SQM, more than US$1.6 billion was accrued, including corporate and mining taxes, Corfo-related lease payments, other local government payments, and a dividend accrued to be paid to Codelco.
When is SQM’s Q2 2026 earnings conference call and how can investors join?
SQM scheduled its Q2 2026 earnings call for August 19, 2026 at 12:00pm EDT. According to SQM, investors can register via the participant call link provided and access a live webcast using the specified media-server URL for listening and viewing.
