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Dec 31, 2020
FMC Q4 2020 Earnings Report
FMC Corporation reported fourth quarter results in line with pre-release and 2021 guidance reflecting strong growth.
Key Takeaways
FMC Corporation's fourth quarter revenue was approximately $1.15 billion, a decrease of 4 percent versus fourth quarter 2019. On a GAAP basis, the company reported earnings of $0.38 per diluted share in the fourth quarter, compared to a loss of $0.02 per diluted share in the fourth quarter 2019. Adjusted earnings were $1.42 per diluted share, a decrease of 19 percent versus fourth quarter 2019.
Revenue of $1.15 billion, down 4 percent versus Q4 2019, up 2 percent organically
GAAP net income of $47 million, versus a loss of $3 million in Q4 2019
Adjusted EBITDA of $290 million, down 9 percent versus Q4 2019
GAAP earnings of $0.38 per diluted share, versus a loss of $0.02 per diluted share in Q4 2019
Forward Guidance
The company is forecasting full-year 2021 revenue to be in the range of $4.9 billion to $5.1 billion, driven by growth in all regions and representing an 8 percent increase at the midpoint versus 2020.
Positive Outlook
- Revenue growth will be driven primarily by volume, with price increases expected to more than offset FX headwinds.
- Full-year adjusted EBITDA is expected to be in the range of $1.32 billion to $1.42 billion, representing 10 percent year-over-year growth at the midpoint.
- 2021 adjusted earnings are expected to be in the range of $6.65 to $7.35 per diluted share, representing a year-over-year increase of 13 percent at the midpoint, excluding any impact from 2021 share repurchases.
- Full-year earnings growth drivers include strong volume growth led by Asia, Latin America and North America.
- Price increases in all regions except Asia are forecast to outweigh FX at the earnings level.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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