FMC Shares Rise as Q3 Earnings Exceed Expectations and Guidance Beats Forecasts

PHILADELPHIA - FMC Corporation (NYSE:FMC) reported third-quarter results that exceeded expectations and raised its year-end outlook, resulting in a 4% increase in after-hours trading.

The agricultural sciences company reported adjusted earnings of $0.69 per share for Q3, surpassing analysts' estimates of $0.53. Revenue increased by 9% year-over-year to $1.07 billion, also exceeding the consensus estimate of $1.04 billion.

FMC observed strong volume growth in Latin America and North America, significantly compensating for the low pricing in Brazil and Argentina. Overall revenue grew organically by 12%, driven by a 17% increase in volume.

FMC's Chairman and CEO, Pierre Brondeau, stated, "As market conditions improved, we achieved growth in revenue and earnings, though at varying rates across regions."

FMC announced an adjusted earnings expectation of $3.16 to $3.52 per share for the full year 2024, above the previous analyst consensus of $3.25. The company anticipates revenue in the range of $4.33 to $4.44 billion, consistent with expectations.

FMC also provided positive guidance for Q4, projecting earnings of $1.47 to $1.83 per share on revenue of $1.3 to $1.41 billion. Both figures are above Wall Street expectations.

The company highlighted solid sales of new products and additional cost advantages from its restructuring program as key drivers of the strong Q4 outlook. FMC raised its adjusted EBITDA net benefit target from restructuring savings to $125 to $150 million.