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FMC: 1Q Earnings Snapshot

PHILADELPHIA (AP) _ FMC Corp. (FMC) on Monday reported first-quarter earnings of $215.7 million.

The Philadelphia-based company said it had net income of $1.62 per share. Earnings, adjusted for one-time gains and costs, were $1.72 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.62 per share.

The chemical producer posted revenue of $1.19 billion in the period, which met Street forecasts.

For the current quarter ending in July, FMC expects its per-share earnings to range from $1.60 to $1.70. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.62.

The company said it expects revenue in the range of $1.19 billion to $1.22 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $1.2 billion.

FMC expects full-year earnings in the range of $5.62 to $5.82 per share, with revenue ranging from $4.5 billion to $4.6 billion.

FMC shares have climbed 3% since the beginning of the year, while the Standard & Poor's 500 index has risen 17%. In the final minutes of trading on Monday, shares hit $76.24, a decrease of 13% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FMC at https://www.zacks.com/ap/FMC