Wed, Aug 27, 2014, 11:38 AM EDT - U.S. Markets close in 4 hrs 22 mins

Recent

% | $
Quotes you view appear here for quick access.

FMC Corp. Message Board

  • bluecheese4u bluecheese4u Apr 30, 2012 10:47 PM Flag

    FMC Corporation Announces First Quarter 2012 Results

    FMC Corporation Announces First Quarter 2012 Results



    •First quarter 2012 adjusted earnings of $1.94 per diluted share up 30 percent on revenue increase of 18 percent
    •Agricultural Products' segment earnings up 29 percent; Specialty Chemicals' segment earnings down 1 percent; Industrial Chemicals' segment earnings up 19 percent
    •Second quarter 2012 outlook for adjusted earnings of $1.65 to $1.85 per diluted share, a 14 percent increase at midpoint of range
    •Full-year 2012 outlook for adjusted earnings of $6.80 to $7.05 per diluted share, a 16 percent increase at midpoint of range; raises midpoint of range versus previous outlook


    PHILADELPHIA, April 30, 2012 /PRNewswire/ -- FMC Corporation (NYSE: FMC) today reported net income of $119.1 million, or $1.71 per diluted share, in the first quarter of 2012, versus net income of $94.0 million, or $1.30 per diluted share, in the first quarter of 2011. Net income in the current quarter included charges of $16.3 million after tax, or $0.23 per diluted share, versus charges of $13.6 million after tax, or $0.19 per diluted share, in the prior-year quarter. Excluding these items in both periods, adjusted earnings were $1.94 per diluted share in the current quarter, an increase of 30 percent versus $1.49 per diluted share in the prior-year quarter. First quarter revenue of $940.7 million was 18 percent higher than $795.0 million in the prior year.

    Pierre Brondeau, FMC president, chief executive officer and chairman, said, "Our first quarter 2012 results provided a very strong start to what we expect will be another record year for FMC. Agricultural Products delivered robust performance driven by broad-based growth in Latin America, North America and Asia. Specialty Chemicals' results met our expectations with strong commercial performance in BioPolymer offset by higher weather-related operating costs in lithium and plant downtime effects associated with capacity expansion projects as we position both businesses for continued premium growth. Industrial Chemicals realized strong performance driven by higher selling prices across the segment, particularly in soda ash, favorable export mix in soda ash and the continued shift toward specialties in Peroxygens."

    Revenue in Agricultural Products of $454.2 million increased 32 percent versus the prior-year quarter as sales gains were achieved in all regions. In North America, sales increased significantly driven by strong demand for pre-emergent herbicides, growth from new products and the shift of some sales from the second quarter reflecting an early start to the 2012 season due to favorable weather conditions and high crop prices. In Latin America, sales also increased significantly, driven by a strong finish to the crop season, particularly in sugarcane and cotton segments, and sales from our new market access joint venture in Argentina. In Asia, sales gains reflected continued strong demand across the region and growth from new products. And in Europe, sales increased driven by volume gains in herbicides and fungicides. Segment earnings of $129.7 million increased 29 percent versus the year-ago quarter driven by the sales growth, partially offset by higher spending on targeted growth initiatives.

    Revenue in Specialty Chemicals was $215.9 million, up 3 percent versus the year-ago quarter as higher selling prices across all businesses, particularly in food, pharmaceuticals and

    http://phx.corporate-ir.net/phoenix.zhtml?c=117919&p=irol-newsArticle&ID=1689315&highlight=

 
FMC
65.71+0.31(+0.47%)11:38 AMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.