FMC Corp ( (FMC) ) has realeased its Q3 earnings. Here is a breakdown of the information FMC Corp presented to its investors.
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FMC Corporation is a global agricultural sciences company focused on providing innovative crop protection solutions, including biologicals, and precision agriculture technologies, to help growers adapt to evolving environmental challenges. With a workforce of approximately 5,800 employees across more than 100 sites globally, FMC is committed to developing new and effective agricultural products.
In its third quarter earnings report for 2024, FMC Corporation announced a revenue increase of 9% compared to the same quarter in the previous year, reaching $1.07 billion. The company also reported a significant turnaround in its net income, achieving $66 million, up from a net loss in the prior-year quarter. FMC confirmed its full-year outlook while adjusting for the anticipated sale of its Global Specialty Solutions (GSS) business.
Key financial metrics from the third quarter include an adjusted EBITDA of $201 million, marking a 15% increase from the previous year, and adjusted earnings per diluted share of $0.69, up 57%. The company experienced strong volume growth, particularly in Latin America and North America, which offset pricing challenges in regions like Brazil and Argentina. New product demand, especially for fluindapyr-based fungicides, showcased the strength of FMC’s innovation pipeline.
Looking ahead, FMC maintains its full-year revenue guidance between $4.33 billion and $4.44 billion, despite a projected 2% decrease at the midpoint compared to 2023. The company’s adjusted EBITDA is expected to be between $885 million and $915 million, reflecting an 8% decline, while adjusted earnings per share are anticipated to fall between $3.16 and $3.52. Despite these challenges, FMC remains focused on achieving further cost savings and capitalizing on new product introductions.
FMC’s management remains optimistic about the company’s ability to deliver strong growth in the fourth quarter, driven by robust sales of new products and further benefits from restructuring efforts. The company anticipates continued earnings growth into 2025, supported by cost efficiencies and improving market conditions.
