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1ST QUARTER: FMC'S REVENUES DOWN 4%, EARNINGS DOWN 11%
Source: FMC news release

First Quarter 2021 Highlights

*Revenue of $1.2 billion, a decrease of 4 percent versus Q1 2020 and down 5 percent organically

*Consolidated GAAP net income of $183 million, down 11 percent versus Q1 2020

*Adjusted EBITDA of $307 million, down 14 percent versus Q1 2020

*Consolidated GAAP earnings of $1.40 per diluted share, down 11 percent versus Q1 2020

*Consolidated adjusted earnings per diluted share of $1.53, down 17 percent versus Q1 2020

*Share repurchases of $75 million

Full-Year Outlook

*Maintains revenue forecast in the range of $4.9 to $5.1 billion, reflecting 8 percent growth at the midpoint versus 2020

*Maintains adjusted EBITDA forecast in the range of $1.32 to $1.42 billion, reflecting 10 percent growth at the midpoint versus 2020

*Raises 2021 adjusted earnings forecast to a range of $6.70 to $7.40 per diluted share, reflecting 14 percent growth at the midpoint versus 2020, excluding any impact from future share repurchases

*Maintains free cash flow forecast in the range of $530 to $620 million, reflecting 6 percent growth at the midpoint versus 2020

*Continues to expect to repurchase $400 to $500 million of FMC shares in 2021

FMC Corporation (NYSE:FMC) today reported first quarter 2021 revenue of $1.2 billion, a decrease of 4 percent versus first quarter 2020. Excluding a slight tailwind from foreign currencies, revenue declined 5 percent organically. On a GAAP basis, the company reported earnings of $1.40 per diluted share in the first quarter, a decrease of 11 percent versus first quarter 2020. First quarter adjusted earnings were $1.53 per diluted share, a decrease of 17 percent versus first quarter 2020.

To read the entire report click here.


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