This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SQM Reports Earnings For Second Quarter 2013

SANTIAGO, Chile, Aug. 27, 2013 /PRNewswire/ -- Sociedad Quimica y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) reported today earnings for the six months ended June 30, 2013 of US$259.2 million ( US$0.98 per ADR), a decrease from US$342.2 million ( US$1.30 per ADR) for the six months ended June 30, 2012. Gross Margin reached US$426.7 million (35.9% of revenues) for the six months ended June 30, 2013, lower than US$531.9 million (43.9% of revenues) recorded for the six months ended June 30, 2012.  Revenues totaled US$1,189.9 million for the six months ended June 30, 2013, representing a decrease of 1.9% compared to US$1,213.0 million reported for the six months ended June 30, 2012.

The Company also announced earnings for the second quarter of 2013, reporting net income of US$107.4 million ( US$0.41 per ADR) compared to US$192.2 million ( US$0.73 per ADR) for the second quarter of 2012. Gross Margin for the second quarter of 2013 reached US$187.8 million, lower than the US$295.7 million recorded for the second quarter of 2012. Revenues totaled US$566.5 million, a decrease of approximately 17.1% compared to the second quarter of 2012, when revenues amounted to US$683.3 million.

SQM's Chief Executive Officer, Patricio Contesse, stated, "We saw higher revenues in our SPN business line and similar revenues in our Potassium business line during the first half of the year, when compared to the first half of 2012. As anticipated, fertilizer prices declined when compared to the first half of 2012, but we were able to partially offset lower prices with higher sales volumes in both the SPN and Potassium business lines. We remain vigilant in the potassium market particularly in light of recent announcements by Uralkali to increase production and sales volumes in the future. This announcement could have a negative impact on potash prices. As you may know, we are a minor player in this market, and our sales represent less than 3% of world demand; we have no influence over international prices of this product."

"Even though iodine prices were relatively stable, and lithium prices were higher, SQM sales volumes were lower than expected in both business lines for the first half of the year. In both the lithium and iodine markets, demand has remained robust and has been higher than last year; however sales volumes from competitors have been higher than expected. Research and development for new uses and applications in the iodine and lithium market remains strong."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%
TSLA $232.32 -3.92%
YHOO $36.01 -1.42%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs