Sociedad Quimica Y Minera de Chile (NYSE: SQM) reported Q3 EPS of $0.25, $0.04 worse than the analyst estimate of $0.29. Revenue for the quarter came in at $466.4 million versus the consensus estimate of $510.24 million.

SQM's Chief Executive Officer, Patricio Contesse, stated, "Despite the pricing pressure we have seen in the iodine and potash industries, which has impacted revenues, this quarter's EBITDA margin is the highest we have reported for the last six quarters. EBITDA was higher for the third quarter of this year than it was for the third quarter of last year, even in the face of lower iodine and potash prices. This is proof of the success of our cost reduction efforts."

"Iodine prices have continued the downward trend we saw in the first half of the year. However, as we mentioned last quarter, we have seen some price recovery in the potash market, and our sales volumes are up with respect to 2013. Supply shortages in the potassium sulfate market have had a positive effect on pricing and have also benefited demand for potassium nitrate, as an alternative chlorine-free fertilizer. In the lithium market, demand continues to be driven by batteries, and we expect to see less new supply from other producers than we previously anticipated."

"Going past the third quarter, in October we placed a bond in the U.S. market for US$250 million, with a coupon rate of U.S. treasury plus 215 basis points, which will mature in 2025. We are pleased with the results of this transaction. Finally, we recently completed a sale of mining rights to Antofagasta Minerals for US$13 million before taxes, which will be reflected in our fourth quarter results."

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