Corporate profits rise in Chile and Argentina amid shifting economic indicators

In Chile, major companies reported accumulated profits of US$16.881 billion for the first half of 2026, a 21.16% increase compared to the same period in 2025. Total revenues reached US$194.272 billion. Leading profit earners included SQM with US$1.024 billion, Banco de Chile with US$714.8 million, and Empresas Copec with US$711.9 million. State-owned enterprises also saw a 73.86% profit increase, led by Codelco, Enap, and BancoEstado.

This corporate growth contrasts with a deteriorating labor market in Chile. The national unemployment rate reached 9.5% for the May-July 2026 quarter, up 0.8 percentage points year-on-year. The Central Bank has noted a destruction of jobs, particularly in the formal sector.

In Argentina, companies listed on the local exchange paid US$868 million in dividends during the first half of 2026, a 7% decrease from the previous year. The banking sector led distributions, accounting for US$576 million (over 66% of the total). Major contributors included Grupo Financiero Galicia, Banco Macro, and BYMA.