FMC: 2Q Earnings Snapshot
PHILADELPHIA (AP) _ FMC Corp. (FMC) on Tuesday reported second-quarter profit of $174.5 million.
The Philadelphia-based company said it had net income of $1.32 per share. Earnings, adjusted for one-time gains and costs, were $1.66 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.63 per share.
The chemical producer posted revenue of $1.21 billion in the period.
For the current quarter ending in October, FMC expects its per-share earnings to range from 75 cents to 85 cents.
The company said it expects revenue in the range of $960 million to $990 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $1 billion.
FMC expects full-year earnings in the range of $5.68 to $5.88 per share, with revenue ranging from $4.5 billion to $4.6 billion.
FMC shares have risen 15% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. In the final minutes of trading on Tuesday, shares hit $84.80, a fall of nearly 5% in the last 12 months.