FMC: 2Q Earnings Snapshot
PHILADELPHIA (AP) _ FMC Corp. (FMC) on Wednesday reported second-quarter earnings of $129.7 million.
On a per-share basis, the Philadelphia-based company said it had profit of 96 cents. Earnings, adjusted for one-time gains and costs, were $1.78 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.71 per share.
The chemical producer posted revenue of $1.26 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $1.23 billion.
For the current quarter ending in October, FMC expects its per-share earnings to range from 87 cents to 97 cents. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.24.
The company expects full-year earnings in the range of $5.90 to $6.20 per share.
FMC shares have dropped nearly 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 5 percent. In the final minutes of trading on Wednesday, shares hit $88.27, an increase of 14 percent in the last 12 months.