FMC Corp. Raises Q4 Adj. Earnings Guidance; Initiates FY19 Outlook - Quick Facts

(RTTNews) - FMC Corp. (FMC) announced it expects fourth-quarter adjusted earnings to be in a range of $1.62 to $1.67 per share, which compares to prior guidance of $1.33 to $1.43 per share. The company raised guidance primarily due to outperformance in Agricultural Solutions and lower than expected taxes. Agricultural Solutions segment revenue was up 18 percent from prior year, on a pro forma basis, versus prior guidance of 12 percent growth. A significantly lower tax rate is expected to contribute an additional $0.15 to $0.20 incremental adjusted earnings per share versus midpoint of prior guidance.

For full-year 2019, excluding Lithium, FMC expects revenue to grow by 4 to 6 percent versus pro forma 2018 revenue, and it expects total company EBITDA growth of 5 to 9 percent versus pro forma 2018. FMC expects 2019 adjusted earnings per share to be in the range of $5.55 to $5.75, excluding any impact from share repurchases in 2019.