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FMC Slashes Q3 Outlook; Stock Plunges 13%

RTTNews | il y a 574

FMC Slashes Q3 Outlook; Stock Plunges 13%

(RTTNews) - 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.

The company added that results for EMEA, North America and Asia were broadly in line with Company expectations, destocking behavior continued in those regions as well.

For the third quarter, the company now projects earnings of $0.44 per share on revenues of $982 million. Previously, the company expected earnings in the range of $0.90 to $1.32 per share on revenues between $1.19 billion and $1.27 billion for the quarter.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.02 billion on revenues of $1.21 billion for the quarter.

The company now projects revenues for the fourth quarter to be between $1.139 billion and $1.379 billion and for the full-year 2023 to be between $4.48 billion to $4.72 billion. Previously, the company expected revenues between $5.20 billion and $5.40 billion for the year.

The Street is looking for revenues of $1.67 billion for the quarter and $5.23 billion for the year.

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 | il y a 342

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 | il y a 550

FMC Slashes Q2, FY23 Revenue Outlook

FMC Slashes Q2, FY23 Revenue Outlook

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.

RTTNews | il y a 679

Eurozone Growth Outlook Downgraded; Disinflation To Proceed More Swiftly: EU

Eurozone Growth Outlook Downgraded; Disinflation To Proceed More Swiftly: EU

Eurozone economic growth outlook was downgraded substantially for 2025 due to the impact of higher trade tariffs and elevated uncertainty and disinflation would proceed more swiftly than anticipated with headline inflation set to hit the 2 percent target by the middle of this year, the European Commission said Monday.

RTTNews | il y a 38 minutes

Dollar Index Extends Gains On Trade Deal Optimism

Dollar Index Extends Gains On Trade Deal Optimism

Rising optimism surrounding trade deals between the U.S. and its trading partners, and in particular the significant easing in trade tensions between the U.S. and China bolstered the U.S. dollar during the week ended May 16.

RTTNews | il y a 2h 4min

FTSE 100 Drifts Lower In Cautious Trade

FTSE 100 Drifts Lower In Cautious Trade

U.K. stocks are down in negative territory, losing ground after making a good upmove in the previous week. Investors, awaiting the outcome of a UK - European Union summit in London, are largely making cautious moves.

RTTNews | il y a 2h 40min

CAC 40 Moderately Lower; BNP Paribas Rises On Buyback Announcement

CAC 40 Moderately Lower; BNP Paribas Rises On Buyback Announcement

French stocks are down in negative territory on Monday, retreating from a one-month high recorded in the previous session, as investors make cautious moves amid some concerns about global growth following a downward revision in U.S. credit rating.

RTTNews | il y a 3h 23min

Sensex Drops 271 Points In Muted Session; Nifty Ends Below 24,950

Sensex Drops 271 Points In Muted Session; Nifty Ends Below 24,950

Indian shares fell modestly on Monday, with IT stocks leading losses after Moody's downgraded the U.S. credit rating by one notch to Aa1 from Aaa, citing rising levels of government debt and interest payments.

RTTNews | il y a 3h 29min

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