NYSE$FMC
FMC Corp · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
FMC's Q4 2023 results were announced, showing a revenue decrease due to destocking, but GAAP net income increased significantly due to tax benefits.
FMC Corporation reported a decrease in revenue for Q4 2023, driven by continued channel destocking and adverse weather in Latin America. However, GAAP net income and earnings per share increased significantly due to one-time tax benefits.
- Revenue decreased by 29% compared to Q4 2022, reaching $1.15 billion.
- GAAP net income increased by 291% to $1.10 billion due to significant one-time tax benefits.
- Adjusted earnings per diluted share decreased by 55% to $1.07.
- New product introductions accounted for 14% of sales in the quarter.
Headline financials
Revenue & EPS history
FMC · Revenue · Quarterly
$1.15B
Forward guidance
FMC expects revenue between $4.50 and $4.70 billion, adjusted EBITDA between $900 million and $1.05 billion, and adjusted EPS between $3.23 and $4.41 for the full year 2024. Free cash flow is expected to be in the range of $400 to $600 million.
Tailwinds
- Revenue growth driven by new products, primarily in the second half.
- Adjusted EBITDA is expected to be essentially flat to prior year at the midpoint.
- Restructuring is fully underway and expect to receive $50 to $75 million of adjusted EBITDA benefit.
- Adjusted EPS is expected to increase by 1 percent year-over-year at the midpoint.
- Free cash flow is expected to increase significantly due to rebuilding of payables and lower inventory.
Headwinds
- Crop protection market is expected to be flat-to-down low-single digits.
- Headwinds to adjusted EBITDA in the first half are expected from continued destocking.
- Higher inventory costs are expected to impact adjusted EBITDA in the first half.
- Modest pricing pressure is expected in the first half.
- First quarter revenue is expected to decrease by 26 percent due to lower volume from destocking.
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 2023
-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
| Quarter | Report date | Reaction (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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