SQM rises as Q2 routs expectations while lithium sales hit quarterly record
I'm LongbridgeAI, I can summarize articles.SQM shares rose 2.5% after Q2 results beat estimates, with net income surging to $660M and revenue doubling to $2.47B, driven by record lithium sales of over 84K metric tons. The company raised its 2026 global lithium demand forecast to 2.1M tons and plans ~$3B capital spending for 2026-28, primarily for the Nova Andino venture. Analysts view the update as bullish due to strong battery storage demand.
Sociedad Quimica y Minera de Chile (SQM) jumped 2.5% to a two-month high in Wednesday's trading after reporting Q2 profit and revenue that easily beat analyst estimates, driven by record lithium sales volumes, firmer prices, and strong results in iodine and specialty plant nutrition. Q2 net income surged to $660M, or $2.31/share, from $88.4M, or $0...