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Jun 30, 2020
FMC Q2 2020 Earnings Report
FMC demonstrated solid financial performance despite global challenges, raising full-year 2020 guidance.
Key Takeaways
FMC Corporation reported a revenue of $1.16 billion for Q2 2020, a decrease of 4% compared to Q2 2019, but an organic sales growth of 3%. The company's GAAP earnings were $1.41 per diluted share, up 7% versus Q2 2019, and adjusted earnings were $1.72 per diluted share, up 4% versus Q2 2019. FMC also raised its full-year 2020 guidance.
Revenue of $1.16 billion, down 4 percent versus Q2 2019, up 3 percent organically.
Consolidated GAAP net income of $185 million, up 5 percent versus Q2 2019.
Adjusted EBITDA of $341 million, up 1 percent versus Q2 2019.
Consolidated GAAP earnings of $1.41 per diluted share, up 7 percent versus Q2 2019.
Forward Guidance
FMC is forecasting full-year 2020 revenue to be in the range of $4.68 billion to $4.82 billion, representing an increase of 3 percent at the midpoint versus 2019. Organic growth is expected to be 9 percent. Full-year adjusted EBITDA is now expected to be in the range of $1.265 billion to $1.325 billion, representing 6 percent year-over-year growth at the midpoint. 2020 adjusted earnings are now expected to be in the range of $6.28 to $6.62 per diluted share, representing a year-over-year increase of 6 percent at the midpoint.
Positive Outlook
- Volume in Latin America
- Volume in Asia Pacific
- Pricing
- Continued cost discipline
- Third quarter revenue is expected to be in the range of $1.045 billion to $1.105 billion, representing a 6 percent increase at the midpoint compared to third quarter 2019, and organic growth of 12 percent excluding foreign currency headwinds.
Challenges Ahead
- Continued challenges related to the global pandemic
- Foreign currency headwinds throughout 2020
Historical Earnings Impact
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Avg. Return Before/After Earnings
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