SQM lifts 2026 lithium growth guidance

Sociedad Química y Minera (SQM) reported solid first‑quarter 2026 results, with total revenues of US$1,760.1 million for the three months ended March 31, 2026. Net income reached US$364.7 million, equivalent to US$1.28 per share, and was described as a 165.2% increase year over year. Gross profit for the period was US$778.6 million, representing 44.2% of revenues, underscoring robust profitability at the start of the year.

The company highlighted that all lithium operations ran at full capacity during the quarter. SQM said this supported its financial performance and allowed it to capture favorable market conditions, with profitability supported by both volumes and margins. Management framed the quarter as a strong base for its updated full‑year outlook.

SQM reported lithium sales volumes of approximately 69,000 metric tons of lithium carbonate equivalent (LCE) in Q1 2026. The company linked these volumes to tight market conditions and what it described as robust demand. Management commented that current estimates indicate global lithium demand could exceed 1.9 million metric tons of LCE this year, providing a supportive backdrop for its operations.

Reflecting these conditions, SQM raised its full‑year 2026 lithium sales volume growth guidance to 15%. The company said it operated lithium facilities at full capacity in the first quarter and signaled confidence in maintaining higher sales volumes for the rest of the year. This updated guidance positions lithium as a key driver of SQM’s 2026 performance.

Alongside lithium, SQM updated guidance for its specialty plant nutrition (SPN) business. The company increased its 2026 SPN sales volume guidance to about 10% growth versus last year. Management presented the stronger SPN outlook as part of a broader portfolio strategy, complementing growth in lithium with expansion in value‑added fertilizers.

SQM indicated that SPN demand trends support this higher volume expectation. While detailed segment results were not provided in the summary, the company’s revised guidance points to an anticipated improvement in agricultural input volumes relative to the prior year.

SQM emphasized the role of its Nova Andino Litio partnership in Chile. According to the company, Nova Andino Litio generated more than US$530 million in contributions to the Chilean state in the first quarter of 2026. These contributions underline the fiscal impact of SQM’s lithium operations for the country.

The company positioned this partnership as integral to its presence in Chile’s lithium industry. By highlighting the scale of these contributions, SQM underscored its economic linkages with the Chilean state, alongside its continued investment in domestic lithium projects.

SQM reported progress on the Salar Futuro project, noting it is finalizing documentation to begin the environmental permitting process. The company said it expects to submit the project to environmental authorities in the coming months. This step marks an advance in SQM’s project pipeline as it plans for future capacity and resource development.

To discuss the first‑quarter results and outlook, SQM scheduled a conference call on Wednesday, May 27, 2026, at 12:00pm EDT, which coincides with 12:00pm Chile time. Management indicated the call would address financial performance, updated sales guidance, and the status of key projects such as Salar Futuro within the context of current lithium market conditions.