Filing Flows › Chemical & Mining Co of Chile (SQM) › Q1 2024
Chemical & Mining Co of Chile (SQM) Q1 2024 earnings results (first quarter 2024)
6-K filed Jun 20, 2024
Chemical & Mining Co of Chile (SQM) reported revenue of $1.1B for the first quarter 2024 (Q1 2024), -52% from a year earlier. Operating margin was 27.7%, net loss $869M (80.1% of revenue).
Chemical & Mining Co of Chile, Q1 2024: revenue $1.1B (-52% year over year), operating margin 27.7%, net loss $869M, operating cash flow $0. The chart follows the revenue to costs, profit and cash.
| Q1 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | — | -52% |
| Operating profit | $300M | — | — |
| Net earnings | −$869M | — | — |
| Operating cash flow | $0 | — | — |
What changed
Revenue was $1.1B in Q1 2024, down 52% year over year. Lithium and derivatives was the largest line at 50% of revenue. Lithium and derivatives lost $1.1B year over year (down 67%), 93% of the total change.
Gross margin was 34.0%, down 13.1 points from a year earlier. Operating profit was $0.30B, a 27.7% margin (down 18.0 points year over year). Operating expenses grew 113% against a revenue fall of 52%. The quarter ended with a net loss of $0.87B.
Operating cash flow was $0K. Non-cash charges added back $0.02B of depreciation and amortization. Working capital and other items added $0.85B.
Questions
What was Chemical & Mining Co of Chile's revenue in the first quarter 2024?
Chemical & Mining Co of Chile (SQM) reported revenue of $1.1B for the first quarter 2024 (Q1 2024), -52% from a year earlier.
Was Chemical & Mining Co of Chile profitable in the first quarter 2024?
Operating profit was $300M (27.7% of revenue) and net loss $869M.