NYSE$FMC

FMC Corp · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

FMC Corporation reported fourth quarter results in line with pre-release and 2021 guidance reflecting strong growth.

FMC Corporation's fourth quarter revenue was approximately $1.15 billion, a decrease of 4 percent versus fourth quarter 2019. On a GAAP basis, the company reported earnings of $0.38 per diluted share in the fourth quarter, compared to a loss of $0.02 per diluted share in the fourth quarter 2019. Adjusted earnings were $1.42 per diluted share, a decrease of 19 percent versus fourth quarter 2019.

  • Revenue of $1.15 billion, down 4 percent versus Q4 2019, up 2 percent organically
  • GAAP net income of $47 million, versus a loss of $3 million in Q4 2019
  • Adjusted EBITDA of $290 million, down 9 percent versus Q4 2019
  • GAAP earnings of $0.38 per diluted share, versus a loss of $0.02 per diluted share in Q4 2019

Headline financials

Total Revenue

$1.15B

Previous: $1.2B-3.8%
EPS (adj)

$1.42

Previous: $1.76-19.3%
Foreign Currency Impact

-5.0%

No prior period
Capital Expenditures

$32M

Previous: $37.1M-13.7%
Free Cash Flow

$396M

Previous: $302M+31.3%
Net Income

$47M

Previous: -$2.8M+1778.6%
Operating Income

$147M

Previous: $112M+31.0%
Gross Profit

$501M

Previous: $556M-9.8%
Cash & Equivalents

$569M

Previous: $339M+67.8%
Total Assets

$10.2B

Previous: $9.87B+3.2%
Stock-Based Comp

$3.7M

Previous: $6.4M-42.2%

Revenue & EPS history

FMC · Revenue · Quarterly

$1.15B

Q4 2020-3.8%vs Q4 2019
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Forward guidance

The company is forecasting full-year 2021 revenue to be in the range of $4.9 billion to $5.1 billion, driven by growth in all regions and representing an 8 percent increase at the midpoint versus 2020.

Tailwinds

  • Revenue growth will be driven primarily by volume, with price increases expected to more than offset FX headwinds.
  • Full-year adjusted EBITDA is expected to be in the range of $1.32 billion to $1.42 billion, representing 10 percent year-over-year growth at the midpoint.
  • 2021 adjusted earnings are expected to be in the range of $6.65 to $7.35 per diluted share, representing a year-over-year increase of 13 percent at the midpoint, excluding any impact from 2021 share repurchases.
  • Full-year earnings growth drivers include strong volume growth led by Asia, Latin America and North America.
  • Price increases in all regions except Asia are forecast to outweigh FX at the earnings level.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2020

Historical avgQ4 2020

-1.0%

Avg return

Earnings day

-1.0%

Avg return

5 days after

-0.9%

Avg return

30 days after

49%

35 / 72 earnings

Positive

+12.6%

Q3 2021

Best reaction

-46.5%

Q3 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+7.3%+1.5%-6.8%
Q4 2025-19.5%-5.8%-17.4%
Q3 2025-46.5%-53.8%-50.8%
Q1 2025-8.3%-15.0%-3.2%
Q4 2024-33.5%-35.0%-23.6%
Q3 2024+8.3%+2.6%-3.3%
Q2 2024+10.0%+5.5%+10.4%
Q1 2024+7.9%+9.2%-6.5%
Q4 2023-13.0%-15.8%+0.1%
Q3 2023-6.5%-2.6%-7.4%
Q2 2023-3.2%-3.2%-8.4%
Q1 2023-5.8%-8.2%-15.8%
Q4 2022+1.9%+4.0%-2.3%
Q3 2022+0.8%+4.7%+9.4%
Q2 2022-0.1%-2.5%-2.1%
Q1 2022-6.8%-10.2%-8.2%
Q4 2021+8.5%+8.9%+15.0%
Q3 2021+12.6%+14.1%+10.8%
Q2 2021-7.5%-10.6%-9.3%
Q1 2021-1.4%-0.6%-0.6%
Q4 2020-7.5%-7.7%-6.8%
Q3 2020+1.9%+5.8%+15.0%
Q2 2020+1.2%+3.8%+3.5%
Q1 2020+2.6%+4.3%+11.3%
Q4 2019+9.0%+5.9%-8.5%
Q3 2019+8.3%+13.1%+17.6%
Q2 2019+2.8%+2.2%+1.7%
Q1 2019+1.2%+2.4%+1.4%
Q4 2018-2.7%+5.4%+12.2%
Q3 2018+3.9%+3.9%+3.4%
Q2 2018-3.7%-2.0%-4.9%
Q1 2018+4.9%+10.0%+10.6%
Q4 2017-1.0%+0.8%+0.0%
Q3 2017+2.6%+2.3%-3.4%
Q2 2017+9.8%+10.4%+12.9%
Q1 2017-3.0%-0.3%+3.6%
Q4 2016-5.4%-4.1%-3.3%
Q3 2016+7.9%+13.5%+19.8%
Q2 2016+2.0%+2.1%-1.2%
Q1 2016+9.4%
Q4 2015-2.9%
Q3 2015+9.6%
Q2 2015+0.8%
Q1 2015-5.2%
Q4 2014+4.4%
Q3 2014+0.6%
Q2 2014-4.1%
Q1 2014-3.7%
Q4 2013+2.9%
Q3 2013-1.5%
Q2 2013+3.2%
Q1 2013-3.8%
Q4 2012-4.5%
Q3 2012-1.4%
Q2 2012-3.6%
Q1 2012-2.3%
Q4 2011+2.1%
Q3 2011+7.0%
Q2 2011-5.8%
Q1 2011+1.6%
Q4 2010-6.5%
Q3 2010+1.7%
Q2 2010+1.5%
Q1 2010-0.0%
Q1 2009-0.0%
Q4 2007-2.5%
Q4 2009-2.5%
Q3 2009+0.8%
Q3 2008+0.8%
Q2 2008-2.5%
Q4 2008-2.5%
Q2 2009-2.5%

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