FMC Q1 adj EPS $1.77 beats guidance; raises FY adj EBITDA and EPS outlook

FMC CORP

2023-Q1 EPS reported $1.55 revenue$1,344,300,000

Revenue $1.34B flat YoY, up 4% organically; GAAP EPS $1.55 down 6%; adjusted EPS $1.77 down 6% but $0.02 above guidance midpoint.
Adjusted EBITDA $362M up 2%; FY adj EBITDA guidance raised to $1.50-1.56B, adj EPS to $7.34-7.94.
North America record Q1 with 28% revenue growth (30% organic); Canada revenue doubled; Latin America down 12% on drought; Asia down 22%.
Returned ~$100M to shareholders including $25M in share repurchases; FY revenue outlook unchanged at $6.08-6.22B.
Q2 guidance: revenue $1.42-1.48B (flat YoY midpoint), adj EBITDA $350-370M, adj EPS $1.66-1.86 (down ~9% YoY).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FMC CORP reported the three months ended March 31, 2023 results: revenue $1.34 billion, net income $196 million, EPS $1.55 per diluted share. Guidance raised.

Period: the three months ended March 31, 2023
Revenue: $1.34 billion
Net income: $196 million
EPS: $1.55 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

First Quarter 2023 Highlights • Revenue of $1.34 billion, flat versus Q1 2022 and up 4 percent organically 1 • Consolidated GAAP net income of $196 million, down 7 percent versus Q1 2022 • Adjusted EBITDA of $362 million, up 2 percent versus Q1 2022 • Consolidated GAAP earnings of $1.55 per diluted share, down 6 percent versus Q1 2022 • Adjusted earnings per diluted share of $1.77, down 6 percent versus Q1 2022 • Returned approximately $100 million to shareholders, including $25 million in share repurchases

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Source: SEC EDGAR

accession 0000037785-23-000093

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