LONDON, UK / ACCESSWIRE / September 12, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM) ("SQM"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=SQM, following the Company's release of its financial results on August 23, 2017 for the second quarter of the fiscal year 2017 (Q2 FY17). The Santiago, Chile-based Company's revenues rose 3.3% y-o-y. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
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Earnings Reviewed
During the quarter ended June 30, 2017, SQM's (NYSE: SQM) revenues increased to $505.7 million from $489.6 million recorded at the end of Q2 FY16. For the reported quarter, the Company's cost of goods sold came in at $265.7 million, up from the $281.8 million recorded in the prior year's comparable quarter. The Company's gross profit increased to $179.9 million during Q2 FY17 from $146.9 million in Q2 FY16. Administrative expenses were $23.9 million in Q2 FY17, compared to $22.7 million in Q2 FY16. Financial expenses were $12.9 million for the reported quarter, compared to $15.0 million in Q2 FY16.
The chemicals Company's income before taxes rose to $140.2 million in Q2 FY17 from $117.0 million in Q2 FY16. Furthermore, the Company's net income increased to $101.2 million, or $0.38 per diluted share, in Q2 FY17, from $83.1 million, or $0.32 per diluted share, in Q2 FY16.
Segment Performance
In Q2 FY17, SQM' Specialty Plant Nutrition segment's sales volume increased to 262.4 thousand metric tons (Th. MT), rising from 254.0 Th. MT in Q2 FY16. However, the segment's revenues fell marginally to $189.5 million for the reported quarter from $191.1 million in the Q2 FY16.
Iodine and Derivatives' segment sales volume was 3.2 Th. MT during Q2 FY17, compared to 2.6 Th. MT in the last year's corresponding period. The segment's revenues increased to $62.8 million in Q2 FY17 from $60.3 million in Q2 FY16.
For the reported quarter, the Company's Lithium and Derivatives segment's sales volume was 11.5 Th. MT versus 12.1 Th. MT in Q2 FY16. Meanwhile, the segment's revenues surged 33% to $151.1 million in Q2 FY17 from $113.9 million in the prior year's same quarter.
Potassium Chloride & Potassium Sulfate segment's sales volume fell 25% to 281.1 Th. MT y-o-y in Q2 FY17. The segment's revenues were down by 19% to $78.9 million in Q2 FY17 from $97.3 million in the previous year's comparable period.
The Company's Industrial Chemicals segment's sales volume rose 14% to 19.3 Th. MT during Q2 FY17, from 16.9 Th. MT in Q2 FY16. Furthermore, the segment's revenues grew 8% to stand at $14.7 million y-o-y in Q2 FY17.
Balance Sheet
At the close of books in the reported quarter, SQM (NYSE: SQM) had $517.6 million in cash and cash equivalents compared to $514.7 million at the close of books on December 31, 2016. Furthermore, the Company's long-term debt stood at $1.06 billion as on June 30, 2017, compared to $1.09 billion as on June 30, 2016.
Stock Performance
On Monday, September 11, 2017, the stock closed the trading session at $51.81, rising 6.96% from its previous closing price of $48.44. A total volume of 1.40 million shares have exchanged hands, which was higher than the 3-month average volume of 805.82 thousand shares. Sociedad Quimica y Minera de Chile's stock price skyrocketed 47.15% in the last three months, 55.12% in the past six months, and 95.58% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 80.84%. The stock is trading at a PE ratio of 39.98 and has a dividend yield of 1.49%. At Monday's closing price, the stock's net capitalization stands at $13.03 billion.
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