FMC Corp. +7% after big Q4 guidance raise

|About: FMC Corporation (FMC)|By:, SA News Editor

FMC Corp. (FMC +7%) surges after raising Q4 EPS guidance to $1.62-$1.67, up 17%-21% vs. the midpoint of prior guidance of $1.33-$1.43.

FMC says the improved guidance is primarily due to outperformance in its Agricultural Solutions segment, where revenue rose 18% Y/Y on a pro forma basis vs. prior guidance of 12% growth, enjoying strong demand across all regions.

For FY 2019, FMC expects revenue growth of 4%-6% vs. pro forma 2018 revenue and total company EBITDA growth of 5%-9% vs. pro forma 2018, despite significant headwinds from raw material costs and foreign exchange, with EPS of $5.55-$5.75.

Subscribe for full text news in your inbox