SQ M (NYSE: SQM) reported net income of US$588.1 million (US$2.06 per share) for the twelve months ended December 31, 2025, reversing a prior-year loss of US$(404.4) million. Revenues were US$4,576.2 million, up 1.0% year-over-year, and gross profit reached US$1,352.6 million (29.6% of revenues).
Fourth-quarter 2025 results showed stronger momentum: net income of US$183.8 million, revenues of US$1,323.9 million (+23.3% YoY) and gross profit of US$448.5 million (+52.7% YoY). Management cited record lithium sales volumes, a strong iodine price environment and recent operational milestones including first lithium hydroxide shipments from Kwinana.
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Positive
Net income of US$588.1M for 2025 versus a US$(404.4M) loss prior year
Q4 2025 revenues +23.3% YoY to US$1,323.9M
Q4 2025 gross profit +52.7% YoY to US$448.5M
Iodine contributed approximately 42% of total gross profit
Record lithium sales volumes across Nova Andino Litio and International Lithium Division
Kwinana lithium hydroxide certified with 37% lower emissions versus traditional hard-rock refined product
Negative
Full-year revenues rose only 1.0% YoY to US$4,576.2M, indicating limited top-line growth
Concentration risk: 42% of gross profit derived from iodine exposes profit mix to iodine market swings
Key Figures
2025 Revenue:US$4,576.2M2024 Revenue:US$4,528.8M2025 Net Income:US$588.1M+5 more
8 metrics
2025 RevenueUS$4,576.2MTwelve months ended Dec 31, 2025
2024 RevenueUS$4,528.8MTwelve months ended Dec 31, 2024
2025 Net IncomeUS$588.1MTwelve months ended Dec 31, 2025
2025 EPSUS$2.06 per shareTwelve months ended Dec 31, 2025
2025 Gross ProfitUS$1,352.6M (29.6% of revenues)Twelve months ended Dec 31, 2025
Q4 2025 Net IncomeUS$183.8MFourth quarter 2025
Q4 2025 RevenueUS$1,323.9MFourth quarter 2025
Lithium Market Growth25%Estimated lithium market growth for the year
Market Reality Check
Price:$76.30Vol:Volume 1,265,651 vs 20-da...
normal vol
$76.30Last Close
VolumeVolume 1,265,651 vs 20-day average 1,538,280 (relative volume 0.82).normal
TechnicalPrice 76.3 is trading above 200-day MA at 51.36, and 11.41% below the 52-week high of 86.13.
Peers on Argus
SQM was down 2.14% while key specialty-chemicals peers like WLK (+7.31%), LYB (+...
SQM was down 2.14% while key specialty-chemicals peers like WLK (+7.31%), LYB (+2.9%), IFF (+1.83%), RPM (+0.7%) and PPG (+1.25%) traded higher, pointing to stock-specific pressure rather than a sector move.
Market Pulse Summary
This announcement reports a full‑year revenue base of US$4,576.2M, net income of US$588.1M, and Q4 2...
Analysis
This announcement reports a full‑year revenue base of US$4,576.2M, net income of US$588.1M, and Q4 2025 revenue of US$1,323.9M with record lithium sales volumes. Management highlights tighter lithium market conditions and strong iodine pricing, alongside operational milestones in Chile, China, and Australia. Investors may track future disclosures on Nova Andino Litio, demand from EV and ESS markets, and how gross margin at 29.6% evolves against changing lithium and fertilizer cycles.
Key Terms
gross profit, electric vehicles (EVs), spodumene concentrate, lithium hydroxide, +1 more
5 terms
gross profitfinancial
"Gross profit(1) reached US$1,352.6 million (29.6% of revenues)..."
Gross profit is the amount a business keeps from sales after subtracting the direct costs to make or buy the products or services sold — like the money left from a lemonade stand after paying for lemons, sugar and cups. Investors watch gross profit to judge how well a company’s core operations and pricing cover those direct costs, revealing its basic profitability and whether margins are improving or shrinking over time.
electric vehicles (EVs)technical
"could grow by approximately 25% this year, led by electric vehicles (EVs) and ESS."
Electric vehicles (EVs) are cars and trucks that run on electric motors powered by rechargeable batteries or other stored electricity instead of a conventional gasoline engine. They matter to investors because widespread adoption reshapes demand and costs across automakers, parts suppliers, battery makers, utilities and raw-material producers — like a new household appliance that replaces the old one and shifts who makes money and who bears new risks.
spodumene concentratetechnical
"we are also operating at full capacity in the production of spodumene concentrate."
A processed rock product that concentrates spodumene, a mineral rich in lithium, which is then refined into lithium chemicals used to make rechargeable batteries. Think of it as the crude oil equivalent for lithium batteries: an early-stage raw material whose availability and price influence the cost and supply of battery-grade lithium. Investors watch spodumene concentrate as an indicator of future battery material supply, production costs, and the health of electric-vehicle and energy-storage supply chains.
lithium hydroxidetechnical
"our first shipment of lithium hydroxide produced in Australia at the Kwinana refinery."
A white inorganic chemical used as a key raw material in making the active material for many lithium-ion batteries, especially those used in electric vehicles and energy storage. Think of it as a concentrated ingredient in a battery’s recipe: its availability and price affect battery makers’ costs and production pace, so shifts in supply, demand or production capacity can materially influence companies and investors across the clean-energy and automotive supply chains.
life cycle assessmenttechnical
"certified under the International Lithium Association’s Life Cycle Assessment framework,"
A life cycle assessment is a systematic review of the environmental impacts of a product or service across its entire existence — from raw material extraction through manufacturing, use, and disposal. For investors, it acts like a full 'environmental health check' that reveals hidden costs, regulatory and supply-chain risks, and opportunities for efficiency or branding that can affect long-term profitability and valuation.
AI-generated analysis. Not financial advice.
Highlights
SQM reported total revenues for the twelve months ended December 31, 2025 of US$4,576.2 million compared to total revenues of US$4,528.8 million for the same period last year.
Net income for the twelve months ended December 31, 2025 of US$588.1 million or US$2.06 per share, compared to net loss of US$(404.4) million or US$(1.42) per share for the same period last year.
In lithium: Record quarterly sales volumes amidst strong market demand
Strong price environment in iodine
SQM will hold a conference call to discuss these results on Monday, March 2, 2026 at 10:00am EST (12:00pm Chile time).
SANTIAGO, Chile, Feb. 27, 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 twelve months ended December 31, 2025, of US$588.1 million or US$2.06 per share, compared to a loss of US$(404.4) million or US$(1.42) per share reported for the same period last year.
Gross profit(1) reached US$1,352.6 million (29.6% of revenues) for the twelve months ended December 31, 2025, higher than US$1,327.1 million (29.3% of revenues) recorded for the twelve months ended December 31, 2024. Revenues totaled US$4,576.2 million for the twelve months ended December 31, 2025, representing an increase of 1.0% compared to US$4,528.8 million reported for the twelve months ended December 31, 2024.
The Company also announced net income for the fourth quarter of 2025 of US$183.8 million or US$0.64 per share, an increase of 53.0% compared to US$120.1 million or US$0.42 per share for the fourth quarter of 2024. Gross profit for the fourth quarter of 2025 reached US$448.5 million, 52.7% higher than the US$293.8 million reported for the fourth quarter of 2024. Revenues totaled US$1,323.9 million for the fourth quarter of 2025, an increase of 23.3% compared to US$1,073.8 million for the fourth quarter of 2024.
SQM’s Chief Executive Officer, Ricardo Ramos, stated, “Our fourth quarter 2025 results reflected record-high sales volumes across both of our lithium businesses: Nova Andino Litio (formerly SQM Salar) and our International Lithium Division. In November 2025, we began to see early signs of an improved supply-demand balance, driven by stronger-than-expected demand from energy storage systems (ESS), as well as certain supply disruptions. This led to a tighter market environment and a shift in pricing trends. We continue to observe solid demand fundamentals, and we estimate that the lithium market could grow by approximately 25% this year, led by electric vehicles (EVs) and ESS.”
Mr. Ramos continued: At Nova Andino Litio, we are operating at full capacity to meet our customer commitments while continuing to advance our expansion plans in the Salar de Atacama. In parallel, we are increasing refinery of lithium carbonate from lithium sulfate in China through tolling agreements.”
He added: “In Australia, we are also operating at full capacity in the production of spodumene concentrate. In January of this year, we celebrated our first shipment of lithium hydroxide produced in Australia at the Kwinana refinery. Notably, lithium hydroxide from Kwinana refinery has been certified under the International Lithium Association’s Life Cycle Assessment framework, demonstrating a 37% lower emissions footprint compared to traditional hard-rock production refined in China.”
Mr Ramos continued: “Our Iodine and Plant Nutrition division delivered solid performance, particularly in iodine, which contributed approximately 42% of SQM’s total gross profit. By year-end, we observed record iodine prices amid tight supply conditions and strong demand, particularly from the X-ray contrast media market. In the fertilizer business, we observed healthy demand and stable prices across our key markets”.
For media inquiries, contact: Nova Andino Litio: Ignacia Lopez / ignacia.lopez@sqm.com
Note: To see full press release please visit our website:https://ir.sqm.com/
FAQ
What were SQM's full-year 2025 net income and EPS reported on February 28, 2026?
SQM reported net income of US$588.1 million, or US$2.06 per share, for the year ended December 31, 2025. According to the company, this reverses a prior-year loss of US$(404.4) million.
How did SQM perform in Q4 2025 versus Q4 2024 for revenue and gross profit?
SQM reported Q4 2025 revenues of US$1,323.9M (+23.3% YoY) and gross profit of US$448.5M (+52.7% YoY). According to the company, stronger lithium volumes and pricing drove the improvement.
What operational lithium milestones did SQM highlight in the 2025 earnings release?
SQM noted record lithium sales volumes and the first shipment of lithium hydroxide from the Kwinana refinery. According to the company, Kwinana product achieved a 37% lower emissions footprint certification.
How significant is iodine to SQM's profitability in 2025?
Iodine accounted for approximately 42% of SQM's total gross profit in 2025. According to the company, tight supply and strong demand pushed record iodine prices by year-end.
When is SQM's conference call to discuss 2025 results and how can investors join?
SQM will hold its conference call on March 2, 2026 at 10:00 AM EST. According to the company, participants can register via the provided call link and view a live webcast.
Did SQM report meaningful full-year revenue growth for 2025 and what does it imply?
Full-year revenues increased by 1.0% to US$4,576.2M, a modest rise year-over-year. According to the company, stronger Q4 performance drove full-year improvement despite limited overall top-line expansion.
