FMC Corporation Delivers Very Strong Third Quarter Results and Raises 2020 Guidance
Third Quarter 2020 Highlights
- Revenue of $1.08 billion, up 7 percent versus Q3 2019, up 15 percent organically1
- Consolidated GAAP net income of $112 million, up 25 percent versus Q3 2019
- Adjusted EBITDA of $263 million, up 20 percent versus Q3 2019
- Consolidated GAAP earnings of $0.85 per diluted share, up 23 percent versus Q3 2019
- Consolidated adjusted earnings per diluted share of $1.22, up 30 percent versus Q3 2019
Full-Year Outlook Highlights2
- Revenue outlook range of $4.72 to $4.78 billion, reflecting 3 percent growth at the midpoint versus 2019 and 9 percent organic growth1
- Raising adjusted EBITDA outlook to a range of $1.295 to $1.315 billion, reflecting 7 percent growth at the midpoint versus 2019
- Raising adjusted earnings guidance to a range of $6.45 to $6.57 per diluted share, reflecting 7 percent growth at the midpoint versus 2019
- Raising free cash flow guidance to a range of $475 to $525 million, reflecting 66 percent growth at midpoint versus 2019
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- Organic revenue growth (non-GAAP) excludes the impact of foreign currency changes.
- Although we provide forecasts for adjusted earnings per share and adjusted EBITDA (non-GAAP financial measures), we are not able to forecast the most directly comparable measures calculated and presented in accordance with GAAP. Certain elements of the composition of the GAAP amounts are not predictable, making it impractical for us to forecast. Such elements include, but are not limited to, restructuring, acquisition charges, and discontinued operations. As a result, no GAAP outlook is provided.