SQM Q2 Net Income Soars 646% to $660M on Record Lithium Volumes
SQM has more than doubled off its 52-week low of $40.58.
Summary
SQM reported Q2 2026 net income of US$660 million, up 646% year-over-year, on record lithium volumes and higher prices. The company also advanced its Salar Futuro project and raised its 2026 lithium demand forecast.
Key Events · Earnings and Guidance · SQM
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Q2 Net Income Up 646%
Net income reached US$660.0 million (US$2.31/share) in Q2 2026, up from US$88.4 million (US$0.31/share) a year earlier. Six-month net income was US$1,024.7 million, up 353.5%.
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Record Lithium Volumes and Prices
Quarterly lithium sales volumes hit a record 84.1 thousand metric tons LCE. Average realized lithium price was US$21.8/kg, up ~23% QoQ and ~160% YoY.
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Salar Futuro Milestone
Novandino submitted environmental and technical documentation for the Salar Futuro project in July 2026. The project requires ~US$3 billion in capital investment over seven years.
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Capex Guidance of ~US$3B
SQM expects capital expenditures of approximately US$3 billion over 2026-2028, with 60% allocated to Novandino, 20% to Iodine and Plant Nutrition, and 20% to International Lithium.
Analysis · SQM · Energy & Transportation
A blowout quarter for SQM: net income surged 646% year-over-year to US$660 million, propelled by record lithium sales volumes of 84.1 thousand metric tons LCE and a realized lithium price of US$21.8/kg that climbed 23% sequentially. The company also submitted environmental documentation for the US$3 billion Salar Futuro project, a key long-term growth driver, and raised its global lithium demand outlook to over 2.1 million metric tons for 2026. This major earnings beat confirms strong lithium market fundamentals and positions SQM for continued growth.
At the time of this filing, SQM was trading at $82.05 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $20.7B. The 52-week trading range was $40.58 to $98.00. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.