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Chile's SQM misses forecasts as profit slumps on lithium prices
Chile's SQM, the world's second-largest lithium producer, said on Wednesday its third-quarter net earnings fell 56.4%, dragged down by falling lithium prices. The miner, which also produces fertilizers and industrial chemicals, posted a net profit of $479.4-million for the quarter, below the $511.2-million expected by analysts polled by LSEG. Revenue for the miner reached $1.84-billion during the July to September period, down 37.8% from last year and slightly below the LSEG estimate of $1.9-billion. The Santiago-based company's reported earnings per share at $1.68 also lagged the $2.11 forecast by analysts polled by ... (full story)