Sociedad Quimica Y Minera S.A. A (SQM) said after close Wednesday that it earned $3.01 per share in quarter two 2022.
On the revenue line, the company reported $2.6 billion, beating estimates by $319 million.
In the same quarter a year ago, the company earned $0.31 per share on revenue of $588 million.
The stock is down 10.27% to $95.14 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Sociedad Quimica Y Minera S.A. A a Bearish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 79. Meanwhile, the average Wall Street analyst rated the stock a Buy.
Sociedad Quimica y Minera de Chile is a Chilean commodities producer with significant operations in lithium ( primarily used in batteries for electric vehicles and energy storage systems), specialty and standard potassium fertilizers, iodine ( primarily used in X-ray contrast media), and solar salts. The company extracts these materials through its high-quality caliche ore and salt brine deposits. SQM is also developing a hard rock lithium project in Australia.
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Sociedad Quimica Y Minera S.A. A Down 10.27% To $95.14 After Earnings Miss
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