SOCIEDAD QUÍMICA Y MINERA DE CHILE S.A Reports Second Quarter Earnings for 2023
August 23, 2023
🌥️Earnings Overview
On June 30, 2023, SOCIEDAD QUÍMICA Y MINERA DE CHILE S.A ($NYSE:SQM) revealed their financial results for the second quarter of the 2023 fiscal year. Total revenues for the quarter totaled USD 2051.7 million, a 21.1% decrease from the same quarter in the prior year. Additionally, their net income reported was USD 580.2 million, which was 32.5% lower than the same period last year.
Price History
The company’s stock opened at $64.4 and closed at $64.7, down by 0.8% from the previous closing price of 65.2. This implies that investors were slightly dissatisfied with the company’s performance compared to the previous quarter. The earnings report revealed a slight increase in revenue compared to the first quarter of the year, however, the net income for the second quarter was lower than that of the first quarter.
Despite this, the company reported that its operations remain stable and that it is actively seeking new business opportunities. Despite a slight drop in stock prices, the company’s revenue was up and it has plans to generate more revenue and expand its operations in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for SQM. More…
| Total Revenues | Net Income | Net Margin |
| 10.41k | 3.58k | 34.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for SQM. More…
| Operations | Investing | Financing |
| 2.61k | -910.3 | -1.61k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for SQM. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 10.56k | 5.61k | 17.2 |
Key Ratios Snapshot
Some of the financial key ratios for SQM are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 79.6% | 135.0% | 49.0% |
| FCF Margin | ROE | ROA |
| 15.2% | 61.6% | 30.2% |
Analysis
At GoodWhale, we specialize in analyzing the wellbeing of businesses from across the globe. We recently analyzed SOCIEDAD QUÍMICA Y MINERA DE CHILE S.A and came to the conclusion that it is a medium risk investment in terms of both financial and business aspects. We identified 2 risk warnings in terms of the company’s income sheet and balance sheet. If you become a registered user, you will be able to access and explore these warning in detail and make an informed decision about your investment. We understand that making decisions about investments can be stressful and challenging. That is why we have developed a high-quality metric system to help you make sound and secure decisions. Our metrics can help you assess the risks associated with any given business. At GoodWhale, we strive to provide our users with reliable and comprehensive insights to guide their investment decisions. More…
Peers
The company competes with Albemarle Corp, Livent Corp, Crystal Clear Electronic Material Co Ltd, and other companies in the same industry.
– Albemarle Corp ($NYSE:ALB)
Albemarle Corp is a global specialty chemicals company with a market cap of 32.5B as of 2022. The company has a return on equity of 16.25%. Albemarle Corp produces and markets a wide range of products, including lithium, bromine, and catalysts. The company’s products are used in a variety of industries, such as automotive, consumer electronics, and energy storage. Albemarle Corp has a strong presence in the global market and is well-positioned to continue its growth in the future.
– Livent Corp ($NYSE:LTHM)
Livent is a global provider of lithium products. The company has a market cap of 5.21B as of 2022 and a return on equity of 12.5%. Livent produces lithium metal and lithium compounds, which are used in a variety of applications, including batteries, greases, glass and ceramics. The company has a long history of innovation and has been a leader in the development of new lithium products and technologies.
– Crystal Clear Electronic Material Co Ltd ($SZSE:300655)
Crystal Clear Electronic Material Co Ltd has a market cap of 10.34B as of 2022. The company’s Return on Equity is 6.31%. Crystal Clear Electronic Material Co Ltd is engaged in the research and development, production and sales of functional materials, including display materials, solar energy materials and LED materials. The company’s products are widely used in the fields of mobile phones, computers, televisions, automobiles, lighting, solar energy and other consumer electronics.
Summary
SOCIEDAD QUÍMICA Y MINERA DE CHILE S.A reported its earnings for Q2 of fiscal year 2023, revealing a 21.1% decrease in total revenue from the same period last year. Net income also decreased by 32.5%. This decrease in revenue and net income is a cause for concern for investors looking to invest in the company, as it shows a weakening of performance from the previous year. Investors should research further to determine whether this trend will continue or if there are mitigating factors that could improve the company’s financial performance in the future.
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