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May 2, 2023 Source: FMC Corp news release FMC Corporation (NYSE: FMC) today reported first quarter 2023 revenue of $1.34 billion, flat versus first quarter 2022, and up 4 percent organically. On a GAAP basis, the company reported earnings of $1.55 per diluted share in the first quarter, a decrease of 6 percent versus first quarter 2022. First quarter adjusted earnings were $1.77 per diluted share, down 6 percent versus first quarter 2022; however, adjusted earnings were $0.02 above the midpoint of the guidance range. First Quarter 2023 Highlights *Revenue of $1.34 billion, flat versus Q1 2022 and up 4 percent organically *Consolidated GAAP net income of $196 million, down 7 percent versus Q1 2022 *Adjusted EBITDA of $362 million, up 2 percent versus Q1 2022 Consolidated GAAP earnings of $1.55 per diluted share, down 6 percent versus Q1 2022 *Adjusted earnings per diluted share of $1.77, down 6 percent versus Q1 2022 *Returned approximately $100 million to shareholders, including $25 million in share repurchases Full-Year Outlook *Maintains revenue outlook of $6.08 to $6.22 billion, reflecting 6 percent growth at the midpoint versus 2022 *Raises adjusted EBITDA outlook to a range of $1.50 to $1.56 billion, reflecting 9 percent growth at the midpoint versus 2022 *Raises adjusted earnings per diluted share outlook to $7.34 to $7.94, reflecting 3 percent growth at the midpoint versus 2022, excluding any impact from potential additional share repurchases in 2023 *Maintains free cash flow outlook of $530 to $720 million To read the entire report click here. Tweet |
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