FMC Slashes Q2, FY23 Revenue Outlook

RTTNews | 729 days ago
Stocktwits
FMC Slashes Q2, FY23 Revenue Outlook

(RTTNews) - Agricultural sciences company FMC Corp. (FMC) on Monday slashed its revenue guidance for the second quarter and full-year 2023, driven by substantially lower-than-expected volumes due to an abrupt and significant reduction in inventory by channel partners in North America, Latin America and EMEA.

The company now projects revenues for the second quarter to be between $1.42 billion and $1.48 billion and for the full-year 2023 to be between $5.20 billion to $5.40 billion.

Previously, the company expected revenues for the second quarter to be between $1.00 billion and $1.03 billion and for the full-year 2023 to be between $6.08 billion to $6.22 billion.

On average, analysts polled by Thomson Reuters expect the company to report revenues of $1.50 billion for the second quarter and $6.11 billion for the full-year 2023.

Tags: FMC
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FMC Appoints Chairman Pierre Brondeau To Addl. Role Of CEO To Succeed Mark Douglas

FMC Appoints Chairman Pierre Brondeau To Addl. Role Of CEO To Succeed Mark Douglas

Agricultural sciences company FMC Corp. (FMC) announced Tuesday that its Board of Directors has appointed Pierre Brondeau as chief executive officer, in addition to his role as board chairman. He succeeds current president and CEO Mark Douglas, who has stepped down following more than 14 years with the company.
RTTNews | 392 days ago
FMC Guides FY24 Revenues In Line With Estimates

FMC Guides FY24 Revenues In Line With Estimates

Ahead of its Investor Day later on Thursday, agricultural sciences company FMC Corp. (FMC) initiated preliminary revenue guidance for the full-year 2024 in a range of $4.65 billion to $4.85 billion. It also expects adjusted earnings per share to grow faster than adjusted EBITDA in 2024.
RTTNews | 600 days ago
FMC Slashes Q3 Outlook; Stock Plunges 13%

FMC Slashes Q3 Outlook; Stock Plunges 13%

Agricultural sciences company FMC Corp. (FMC) on Monday slashed its earnings and revenue expectations for the third quarter and revenue forecast for the full-year 2023, mainly driven by substantially lower sales volumes in Latin America, particularly destocking in Brazil and to a lesser degree drought in Argentina.
RTTNews | 624 days ago
UK Stocks Turning In Mixed Performance In Cautious Trade

UK Stocks Turning In Mixed Performance In Cautious Trade

U.K. stocks are turning in a mixed performance Tuesday morning as investors are treading cautiously, keeping track of U.S. President Donald Trump's tariff plans and the potential risks to global economic growth.
RTTNews | 36 minutes ago
CAC 40 Slightly Lower In Lackluster Trade

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French stocks are slightly lower on Tuesday with investors making cautious moves while closely following the developments on the trade front.
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Australia Central Bank Unexpectedly Maintains Status Quo

Australia Central Bank Unexpectedly Maintains Status Quo

The Reserve Bank of Australia adopted a wait-and-see approach on Tuesday, defying expectations for a quarter-point rate cut but confirmed that an easing cycle is coming. The policy board, governed by Michele Bullock, decided to hold the cash rate target at 3.85 percent. A majority of six members voted to hold the rate, while three members sought a change from 3.85 percent.
RTTNews | 1h 34min ago
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