FMC Corp · Q1 2022 earnings

Briefing

FMC delivered strong first quarter results, driven by robust demand, proactive pricing actions, and a responsive supply chain, while maintaining full-year growth outlook.

FMC Corporation reported a strong first quarter with revenue of $1.35 billion, a 13% increase versus Q1 2021. Consolidated GAAP net income was $212 million, up 16% versus Q1 2021, and adjusted earnings per diluted share were $1.88, up 23% versus Q1 2021. The company maintains its full-year growth outlook.

• Revenue of $1.35 billion, an increase of 13 percent versus Q1 2021 and up 16 percent organically.
• Consolidated GAAP net income of $212 million, up 16 percent versus Q1 2021.
• Adjusted EBITDA of $355 million, up 16 percent versus Q1 2021.
• Adjusted earnings per diluted share of $1.88, up 23 percent versus Q1 2021.

Headline financials

Revenue & EPS history

FMC’s full-year 2022 revenue is forecasted to be in the range of $5.25 billion to $5.55 billion, representing an increase of 7 percent at the midpoint versus 2021. Full-year adjusted EBITDA is expected to be in the range of $1.32 billion to $1.48 billion, representing 6 percent year-over-year growth at the midpoint. 2022 adjusted earnings per share are now expected to be in the range of $6.70 to $8.00 per diluted share, representing an increase of 6 percent year-over-year at the midpoint. Interest expense is now expected to be $125 million to $145 million due to rising interest rates. Full-year free cash flow is expected to be $515 million to $735 million.