Lithium miner's profit more than triples on EV battery demand
'Well pleased with the extraordinary results'Chile's SQM, the world's second-largest lithium producer, on Thursday posted fourth-quarter net profit more than triple that of a year earlier, just beating estimates on surging demand and tight supplies for the white metal.
Revenue for the quarter also nearly tripled to $3.13 billion, beating an average estimate of $2.99 billion, lifting core earnings to $1.67 billion.Profits were fueled by record sales volumes for lithium and its derivatives, which SQM mostly ships to Asia, the company said. Some sales anticipated this year were brought forward ahead of an expected end to Chinese EV subsidies, it said.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
SQM to spend $3.4 billion by 2025 as profit tripledThe world’s second-largest lithium miner's net income hit $3.9 billion in 2022, compared $585.5 million the previous year.
Consulte Mais informação »
Tesla likely getting $330-million-plus in additional Nevada tax breaks - AutoblogTesla may receive over $300 million in tax abatements over the next two decades for a massive new expansion of its northern Nevada facility.
Consulte Mais informação »
Amazon's best-selling snow blower is over 50% off - AutoblogIf you're in need of help clearing snow, this bundle from Snow Joe is available at a huge discount. Get an electric snow blower for under $200 now.
Consulte Mais informação »
Tesla Cybertruck's adjustable suspension is like a Skyjack - AutoblogThe Tesla Cybertruck's adjustable suspension in off-road mode can raise the pickup enough to put the driver into orbit.
Consulte Mais informação »
2024 Ford Mustang prices are revealed, from base to Dark Horse - AutoblogFord has priced its 2024 Mustang ahead of its launch later this year. Expect to pay big bucks for a V8-powered model.
Consulte Mais informação »
Volkswagen ID.3 headlight steps in the teaser limelight - AutoblogVW teases the optional Matrix headlights on the refreshed ID.3 before the electric hatch debuts on March 1.
Consulte Mais informação »