FMC Q3 revenue down 29% YoY to $982M, posts GAAP loss, cuts full-year EPS and FCF guidance

FMC CORP

2023-Q3 EPS reported $1.77 revenue$3,340,700,000

GAAP net loss of $4M ($0.03 loss per diluted share), down 103% vs Q3 2022.
Adjusted EPS of $0.44, down 64% YoY; adjusted EBITDA $175M, down 33%.
Latin America revenue down 33% (36% organic) due to severe destocking in Brazil.
Full-year 2023 guidance: revenue $4.48-4.72B, adjusted EPS $3.57-4.13, FCF negative $860M to negative $640M.
Company implementing restructuring program to right-size cost base amid channel destocking.

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 0.85

FMC CORP reported three and nine months ended September 30, 2023 results: revenue $982 million. Guidance lowered.

Period: three and nine months ended September 30, 2023
Revenue: $982 million
Guidance: lowered
Result: reported results

Exact text from the filing

full-year outlook Third quarter results significantly impacted by lower sales in Latin America, channel destocking in all regions Third Quarter 2023 Highlights • Revenue of $982 million, a decrease of 29 percent versus Q3 2022 and down 29 percent organically 1 • Consolidated GAAP net loss of $4 million, down 103 percent versus Q3 2022 • Adjusted EBITDA of $175

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Source: SEC EDGAR

accession 0000037785-23-000171

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