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Sep 30, 2021
FMC Q3 2021 Earnings Report
FMC delivered strong third quarter results and confirmed 2021 guidance, reporting significant growth in revenue and profitability.
Key Takeaways
FMC Corporation reported a strong third quarter with revenue of $1.19 billion, a 10% increase compared to Q3 2020. Consolidated GAAP net income was $160 million, up 43% versus Q3 2020, and adjusted earnings per diluted share were $1.43, up 17% versus Q3 2020. The company maintains its full-year guidance and remains confident in its ability to deliver the fourth quarter forecast.
Revenue of $1.19 billion, an increase of 10 percent versus Q3 2020 and up 9 percent organically
Consolidated GAAP net income of $160 million, up 43 percent versus Q3 2020
Adjusted EBITDA of $293 million, up 12 percent versus Q3 2020
Consolidated adjusted earnings per diluted share of $1.43, up 17 percent versus Q3 2020
Revenue by Geographic Location
Forward Guidance
FMC maintains its forecast for full-year 2021 revenue to be in the range of $4.9 billion to $5.1 billion, representing an 8 percent increase at the midpoint versus 2020. Full-year adjusted EBITDA is expected to be in the range of $1.29 billion to $1.35 billion, representing a 6 percent year-over-year growth at the midpoint. 2021 adjusted earnings is now expected to be in the range of $6.59 to $6.99 per diluted share, up 10 percent at the midpoint, reflecting the impact of share repurchases completed year-to-date.
Positive Outlook
- Full-year earnings growth can be attributed to strong volume growth of higher margin products
- Full-year earnings growth can be attributed to the launch of new products including XywayTM fungicide, Overwatch® herbicide and VantacorTM insect control
- Full-year earnings growth can be attributed to price increases.
- Fourth quarter revenue is expected to be in the range of $1.27 billion to $1.47 billion, representing a 19 percent increase at the midpoint compared to fourth quarter 2020 and organic growth of 19 percent.
- FMC expects adjusted earnings per diluted share to be in the range of $1.80 to $2.20 in the fourth quarter, which represents growth of 41 percent at the midpoint versus fourth quarter 2020.
Challenges Ahead
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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