FMC Corporation Reports Strong Q3 Results

PHILADELPHIA – FMC Corporation (NYSE:FMC) reported better-than-expected third quarter results and raised its full-year outlook, leading to a 4% increase in shares during after-hours trading.

The agricultural sciences company posted adjusted earnings of $0.69 per share for Q3, surpassing analyst estimates of $0.53. Revenue rose 9% YoY to $1.07 billion, exceeding the consensus forecast of $1.04 billion.

FMC experienced strong volume growth in Latin America and North America, which offset lower pricing in Brazil and Argentina. Overall, revenue grew 12% organically, spurred by a 17% increase in volume.

> "We delivered revenue and earnings growth as market conditions improved, albeit at varying rates across the regions," said Pierre Brondeau, FMC chairman and CEO.

For the full year 2024, FMC now expects adjusted EPS of $3.16-$3.52, surpassing the previous analyst consensus of $3.25. The company forecasts revenue of $4.33-4.44 billion, aligning with estimates.

FMC also provided optimistic guidance for Q4, projecting EPS of $1.47-$1.83 on revenue of $1.3-1.41 billion, both above Wall Street expectations.

The company highlighted strong sales of new products and additional cost savings from its restructuring program as key drivers for the positive Q4 outlook. FMC has increased its target for restructuring savings to $125-150 million in adjusted EBITDA net benefit.

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