FMC Raises FY22 Revenue Outlook, But Cuts Adj. EPS View

(RTTNews) - While reporting its results for the third quarter on Tuesday, FMC Corporation (FMC) revised its outlook for the full year.

The company raised its revenue outlook to a range of $5.6 billion to $5.8 billion, from a previous estimate of $5.5 billion to $5.7 billion. This represents a 13 percent growth at the midpoint versus 2021.

The company narrowed its adjusted earnings per share outlook to a range of $7.10 to $7.60, from prior estimate of $7.00 to $7.70 per share, this represents a 7 percent growth at the midpoint versus 2021.

Analysts polled by Thomson Reuters currently estimate earnings of $7.42 per share on revenues of $5.63 billion.

The company also narrowed adjusted EBITDA outlook to a range of $1.37 to $1.43 billion from previous estimate of $1.36 billion to $1.44 billion.

FMC also reduced its free cash flow outlook to a range of $440 million to $560 million, from previous estimate of $565 million to $685 million, reflecting the increased revenue outlook and inflationary impacts on working capital.