Q1 2024 Earnings Presentation May 7, 2024 Q1 2024 Earnings Presentation FMC CORPORATION 1 Safe Harbor Statement Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements made in this presentation are forward-looking statements that are based on our current views and assumptions regarding future events, future business conditions and the outlook for our company based on currently available information. In some cases, you can identify these forward-looking statements ...

FMC Corporation (NYSE:FMC) Q1 2024 Earnings Conference Call May 7, 2024 9:00 AM ET Company Participants Curt Brooks - Director, Investor Relations Mark Douglas - President and Chief Executive Officer Andrew Sandifer - Executive Vice President and Chief Financial Officer Conference Call Participants Vincent Andrews - Morgan Stanley Josh Spector - UBS Adam Samuelson - Goldman Sachs Kevin McCarthy - Vertical Research Partners Joel Jackson - BMO Capital Markets Steve Byrne - Bank of America Andrew Keches - Barc ...

FMC Corporation (FMC) reported a loss of 2 cents per share in first-quarter 2024. This compares to earnings of $1.55 in the year-ago quarter.Barring one-time items, adjusted earnings per share were 36 cents, beating the Zacks Consensus Estimate of 35 cents.Revenues were $918 million in the quarter, down around 32% from the year-ago quarter’s levels. The top line fell short of the Zacks Consensus Estimate of $1,025.2 million.A 27% decline in volumes hurt FMC’s revenues in the reported quarter.  Prices also f ...

FMC (FMC) came out with quarterly earnings of $0.36 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $1.77 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.86%. A quarter ago, it was expected that this chemical producer would post earnings of $1.09 per share when it actually produced earnings of $1.07, delivering a surprise of -1.83%.Over the last four quarters, the company has ...

Financial Performance - First quarter 2024 revenue was $918 million, down 32% compared to Q1 2023, with an organic decline of 31%[3] - The company reported a GAAP net loss of $3 million, a decrease of 102% versus Q1 2023, and adjusted earnings per diluted share of $0.36, down 80% year-over-year[4] - Adjusted EBITDA for Q1 2024 was $161 million, a decrease of 56% from the prior year, primarily due to lower volume and price headwinds[7] - North America sales declined 48%, while Latin America revenue decreased by 20%, and Asia sales fell 29% due to lower volumes[6] - Revenue for the three months ended March 31, 2024, was $918.0 million, a decrease of 32% compared to $1,344.3 million in the same period of 2023[22] - Gross margin decreased to $339.7 million in Q1 2024 from $581.3 million in Q1 2023, reflecting a significant decline in profitability[22] - Income from continuing operations before income taxes was $8.0 million in Q1 2024, down from $248.5 million in Q1 2023, indicating a substantial drop in operational performance[22] - Net loss attributable to FMC stockholders was $2.7 million in Q1 2024, compared to a net income of $196.0 million in Q1 2023[22] - Adjusted after-tax earnings from continuing operations attributable to FMC stockholders (Non-GAAP) were $45.4 million in Q1 2024, down from $223.1 million in Q1 2023[25] - Organic revenue change (Non-GAAP) for Q1 2024 was a decline of 31%, excluding a 1% negative impact from foreign currency fluctuations[36] - Basic earnings (loss) per common share attributable to FMC stockholders was $(0.02) in Q1 2024, compared to $1.56 in Q1 2023, reflecting a significant decline in earnings per share[22] Outlook and Projections - FMC maintains its full-year revenue outlook of $4.50 billion to $4.70 billion, reflecting a 2.5% growth at the midpoint compared to 2023[9] - The adjusted EBITDA outlook for the full year remains unchanged at $900 million to $1.05 billion, essentially flat at the midpoint versus 2023[9] - Free cash flow outlook for 2024 is unchanged at $400 million to $600 million, representing over $1 billion in year-over-year improvement at the midpoint[9] - Second quarter revenue is expected to be between $1.00 billion and $1.15 billion, indicating a 6% increase at the midpoint compared to Q2 2023[10] - The company anticipates a 23% increase in second-half sales and a 91% increase in second-half adjusted EPS compared to the same period last year[11] - FMC expects volume growth in all regions outside of Asia for the second quarter, driven by new product contributions[13] Cash Flow and Investments - Free cash flow (Non-GAAP) for Q1 2024 was a negative $187.8 million, compared to a negative $915.2 million in Q1 2023, indicating an improvement in cash flow management[33] - Capital additions and other investing activities totaled $23.4 million in Q1 2024, significantly lower than $51.3 million in Q1 2023[22] - Cash provided by financing activities of continuing operations was $305.7 million for the three months ended March 31, 2024[41] Balance Sheet and Equity - Total debt increased to $4,335.7 million as of March 31, 2024, compared to $4,212.6 million on December 31, 2023[37] - Total current assets amounted to $5,198.0 million as of March 31, 2024, compared to $5,129.1 million at the end of 2023[40] - Total liabilities and equity stood at $11,978.4 million as of March 31, 2024, consistent with the previous quarter[40] - Inventories decreased to $1,587.1 million as of March 31, 2024, from $1,724.6 million at the end of 2023[40] - Total FMC stockholders' equity increased to $4,311.5 million as of March 31, 2024, from $3,470.7 million a year earlier[37] - Cash and cash equivalents increased to $417.8 million at the end of Q1 2024, up from $302.4 million at the beginning of the period[41] - Operating activities of continuing operations required cash of $142.9 million for the three months ended March 31, 2024, compared to $851.3 million for the same period in 2023[41] Restructuring and Charges - Restructuring and other charges (income) amounted to $40.9 million in Q1 2024, primarily related to the global restructuring plan "Project Focus"[26] - ROIC (using Non-GAAP numerator) was reported at 6.22%[37]

Significant improvement in first quarter cash from operations, up $708 million versus prior year period First Quarter 2024 Highlights Revenue of $918 million, down 32 percent versus Q1 2023 and down 31 percent organically1 Consolidated GAAP net loss of $3 million, down 102 percent versus Q1 2023 Adjusted EBITDA of $161 million, down 56 percent versus Q1 2023 Consolidated GAAP loss of $0.02 per diluted share, down 101 percent versus Q1 2023 Adjusted earnings per diluted share of $0.36, down 80 percent versu ...

In its upcoming report, FMC (FMC) is predicted by Wall Street analysts to post quarterly earnings of $0.35 per share, reflecting a decline of 80.2% compared to the same period last year. Revenues are forecasted to be $1.03 billion, representing a year-over-year decrease of 23.7%.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Ahead of a compan ...

Key PointsFMC stock is a boost, according to Goldman analysts; others see an even more considerable upside for the stock. With a global agricultural breakout calling for FMC's products, it is perceived to be above its peers this cycle. EPS projections and price targets amplify the stock's discount for investors to squeeze.5 stocks we like better than UBS GroupThe first quarter of the 2024 earnings season has kicked off. While markets focus primarily on financial stocks to lead the way into the new year, oth ...

PHILADELPHIA, April 3, 2024  /PRNewswire/ -- FMC Corporation (NYSE:FMC), an agricultural sciences company, today announced Curt Brooks has been named director, Investor Relations (IR). He assumes the role from Abizar "Zack" Zaki, who has been elected FMC vice president, Corporate Strategy. Brooks and Zaki will transition investor responsibilities following the company's first quarter earnings release and conference call in early May. Zack Zaki (left) Curt Brooks (right) Brooks has served as associate di ...

PHILADELPHIA, March 18, 2024 /PRNewswire/ --  FMC Corporation (NYSE: FMC) announced today it will release its first quarter 2024 earnings on Monday, May 6, 2024, after the stock market close via PR Newswire and the company's website https://investors.fmc.com. The company will host a webcast conference call on Tuesday, May 7, 2024 at 9:00 a.m. ET that is open to the public via internet broadcast and telephone. Conference Call Details: Internet broadcast: https://investors.fmc.com United States (Local): +1 40 ...