SQM Reports Q3 Earnings: Net Loss of $524.5M
Ticker: SQM · Form: 6-K · Filed: Nov 20, 2024 · CIK: 909037
Sentiment: bearish
Topics: earnings, financial-results, loss
TL;DR
SQM's Q3 results are in: revenues down, and they posted a $524.5M net loss. Ouch.
AI Summary
Chemical & Mining Co of Chile Inc. (SQM) reported total revenues of US$3,455.0 million for the nine months ended September 30, 2024, a decrease from US$6,155.9 million in the same period last year. The company incurred a net loss of US$524.5 million, or US$1.84 per share, for the nine-month period, compared to a net income in the prior year. This filing is a report of foreign private issuer for the month of November 2024.
Why It Matters
The significant drop in revenue and shift to a net loss indicates potential challenges in SQM's market performance or operational efficiency, which could impact investor confidence and future stock valuation.
Risk Assessment
Risk Level: medium — The company reported a significant net loss and a substantial decrease in revenue, indicating potential financial distress or market challenges.
Key Numbers
- US$3,455.0M — Total Revenues (9M 2024) (Significant decrease from prior year period)
- (US$524.5M) — Net Loss (9M 2024) (Shift from net income in prior year period)
- (US$1.84) — Loss Per Share (9M 2024) (Reflects net loss)
Key Players & Entities
- CHEMICAL & MINING CO OF CHILE INC (company) — Filer
- SQM (company) — Company Name Abbreviation
- US$3,455.0 million (dollar_amount) — Total revenues for nine months ended Sep 30, 2024
- US$6,155.9 million (dollar_amount) — Total revenues for nine months ended Sep 30, 2023
- US$524.5 million (dollar_amount) — Net loss for nine months ended Sep 30, 2024
- US$1.84 (dollar_amount) — Loss per share for nine months ended Sep 30, 2024
- September 30, 2024 (date) — Reporting period end date
- November 2024 (date) — Reporting month
FAQ
What were SQM's total revenues for the nine months ended September 30, 2024?
SQM reported total revenues of US$3,455.0 million for the nine months ended September 30, 2024.
What was SQM's net result for the nine months ended September 30, 2024?
SQM reported a net loss of US$524.5 million for the nine months ended September 30, 2024.
How does the net loss per share compare to the previous year?
The net loss per share was US$1.84 for the nine months ended September 30, 2024, compared to net income in the prior year period (specific prior year EPS not provided in excerpt).
What is the filing type and reporting period?
This is a Form 6-K, Report of Foreign Private Issuer, for the month of November 2024, reporting on the period ended September 30, 2024.
What was the change in total revenues compared to the same period last year?
Total revenues decreased from US$6,155.9 million for the nine months ended September 30, 2023, to US$3,455.0 million for the nine months ended September 30, 2024.
Filing Stats: 4,360 words · 17 min read · ~15 pages · Grade level 6.5 · Accepted 2024-11-20 06:10:26
Key Financial Figures
- $3,455.0 million — ne months ended September 30, 2024 of US$3,455.0 million compared to total revenues of US$6,155.
- $6,155.9 million — million compared to total revenues of US$6,155.9 million for the same period last year. Net lo
- $524.5 — e months ended September 30, 2024 of (US$524.5) million or (US$1.84) per share, compar
- $1.84 — er 30, 2024 of (US$524.5) million or (US$1.84) per share, compared to net income (2)
- $1,809.5 million — share, compared to net income (2) of US$1,809.5 million or US$6.33 per share for the same perio
- $6.33 — t income (2) of US$1,809.5 million or US$6.33 per share for the same period last year
- $1,033.3 million — last year. Gross profit (3) reached US$1,033.3 million (29.9% of revenues) for the nine months
- $2,674.3 million — ended September 30, 2024, lower than US$2,674.3 million (43.4% of revenues) recorded for the ni
- $131.4 million — come for the third quarter of 2024 of US$131.4 million or US$0.46 per share, a decrease of 72.
- $0.46 — uarter of 2024 of US$131.4 million or US$0.46 per share, a decrease of 72.6% compared
- $479.4 million — hare, a decrease of 72.6% compared to US$479.4 million or US$1.68 per share for the third quar
- $1.68 — 72.6% compared to US$479.4 million or US$1.68 per share for the third quarter of 2023
- $280.8 m — for the third quarter of 2024 reached US$280.8 million, 62.7% lower than the US$753.6 mi
- $753.6 million — S$280.8 million, 62.7% lower than the US$753.6 million reported for the third quarter of 2023.
- $1,076.9 million — ird quarter of 2023. Revenues totaled US$1,076.9 million for the third quarter of 2024, a decrea
Filing Documents
- a6-k_3q2024earningsrelease.htm (6-K) — 242KB
- sqm.jpg (GRAPHIC) — 6KB
- 0000909037-24-000068.txt ( ) — 251KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. CHEMICAL AND MINING COMPANY OF CHILE INC. (Registrant) Date November 19, 2024 s Gerardo Illanes By Gerardo Illanes CFO Persons who are to respond to the collection of information contained SEC 1815 (04-09) in this form are not required to respond unless the form displays currently valid OMB control number.