FMC Q3 2020 Earnings Report
Key Takeaways
FMC Corporation reported a 7 percent increase in third quarter revenue to $1.08 billion compared to Q3 2019. Consolidated GAAP net income increased by 25 percent to $112 million, with adjusted EBITDA up 20 percent to $263 million. The company raised its full-year outlook for revenue, adjusted EBITDA, and adjusted earnings per share.
Revenue of $1.08 billion, up 7 percent versus Q3 2019, up 15 percent organically
Consolidated GAAP net income of $112 million, up 25 percent versus Q3 2019
Adjusted EBITDA of $263 million, up 20 percent versus Q3 2019
Consolidated GAAP earnings of $0.85 per diluted share, up 23 percent versus Q3 2019
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Forward Guidance
FMC expects fourth quarter revenue to be in the range of $1.23 billion to $1.29 billion, representing a 5 percent increase at the midpoint compared to fourth quarter 2019. Adjusted EBITDA is forecasted to be in the range of $335 million to $355 million, representing an 8 percent increase at the midpoint versus Q4 2019. FMC expects adjusted earnings per diluted share to be in the range of $1.70 to $1.82 in the fourth quarter.