FMC Q2 revenue falls 30% to $1.01B; GAAP EPS $0.24, down 77% YoY; full-year outlook lowered

FMC CORP

2023-Q2 EPS reported $1.80 revenue$2,358,800,000

Revenue $1.01B, down 30% vs Q2 2022; organic decline 28%; volume down 31%, price up 3%.
GAAP net income $32.4M ($0.24 diluted EPS), down 75% and 77% respectively vs prior year.
Adjusted EPS $0.50, down 74% vs Q2 2022; adjusted EBITDA $187.6M, down 48%.
Full-year 2023 adjusted EPS guidance lowered to $5.86-6.80 (15% decline at midpoint); free cash flow range -$175M to +$175M.
Cites unprecedented inventory destocking by growers and channels; expects H2 adjusted EBITDA growth of 16% at midpoint.

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 Q2 2023 results: revenue $1.01 billion, net income $32.4 million, EPS $0.24 per diluted share. Guidance lowered.

Period: Q2 2023
Revenue: $1.01 billion
Net income: $32.4 million
EPS: $0.24 per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

FMC Corporation (NYSE:FMC) today reported second quarter 2023 revenue of $1.01 billion, down 30 percent versus second quarter 2022, and down 28 percent organically. On a GAAP basis, the company reported earnings of $0.24 per diluted share in the second quarter, a decrease of 77 percent versus second quarter 2022.

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Source: SEC EDGAR

accession 0000037785-23-000151

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