Yahoo Finance Sociedad Quimica (SQM) to Post Q1 Earnings: What's in the Offing?
Sociedad Quimica y Minera de Chile S.A. SQM is slated to release first-quarter 2023 results on May 17.
The company beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missed once. It has a trailing four-quarter earnings surprise of around 34.8%, on average. It posted an earnings surprise of 6.1% in the last reported quarter. The company’s first-quarter results are likely to have benefited from higher demand and prices.
Let’s see how things are shaping up for this announcement.
What do the Estimates Say?
The Zacks Consensus Estimate for first-quarter sales for Sociedad Quimica is currently pegged at $2,673 million, which suggests a rise of around 32.3% year over year.
Some Factors to Watch For
The company is likely to have gained from higher realized prices and strong demand in the March quarter. Higher sales volumes in lithium and iodine businesses are expected to have aided its top line and margins in the quarter.
Sociedad Quimica is benefiting from favorable trends in the lithium market underpinned by strong electric vehicle sales. The expansion of lithium operations is also expected to have supported the company’s lithium sales volumes in the first quarter. Healthy demand and limited supply are also likely to have boosted lithium prices in the quarter.
Iodine volumes are also expected to have been supported by growing demand following the post-pandemic recovery. The company is expected to have gained from higher demand in the iodine market in the first quarter. Favorable prices are also likely to have supported sales in the Specialty Plant Nutrients segment.
However, softer prices in the potassium chloride market are likely to have impacted sales in the Potassium Chloride and Potassium Sulfate business in the quarter to be reported.
Sociedad Quimica y Minera S.A. Price and EPS Surprise
Sociedad Quimica y Minera S.A. price-eps-surprise | Sociedad Quimica y Minera S.A. Quote
Zacks Model
Our proven model does not conclusively predict an earnings beat for Sociedad Quimica this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings ESP: Earnings ESP for Sociedad Quimica is -7.24%. The Zacks Consensus Estimate for earnings for the first quarter is currently pegged at $3.34. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Sociedad Quimica currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some companies you may want to consider, as our model shows these have the right combination of elements to post an earnings beat this quarter:
Silvercorp Metals Inc. SVM, slated to release earnings on May 25, has an Earnings ESP of +110.00%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for Silvercorp Metals’ earnings for the fiscal fourth quarter is currently pegged at 3 cents. SVM currently carries a Zacks Rank #3.
Deere & Company DE, scheduled to release earnings on May 19, has an Earnings ESP of +6.75% and currently carries a Zacks Rank #3.
The Zacks Consensus Estimate for Deere’s fiscal second quarter earnings has been revised 0.2% upward in the past 60 days. The consensus estimate for DE’s earnings for the quarter is currently pegged at $8.51.
Greif, Inc. GEF, slated to release earnings on Jun 7, has an Earnings ESP of +10.00%.
The Zacks Consensus Estimate for Greif’s earnings for the fiscal second quarter is pegged at $1.30. GEF currently carries a Zacks Rank #3.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Sociedad Quimica y Minera S.A. (SQM) : Free Stock Analysis Report
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