FMC Corp Earnings: Swinging to a Profit
S&P 500 (NYSE:SPY) component FMC Corporation (NYSE:FMC) reported its results for the fourth quarter. FMC is a chemical manufacturing company that offers solutions, applications and products to agricultural, consumer and industrial markets around the world. .
Investing Insights: Will the iPad 3 Be the Next Catalyst for Apple’s Stock?
FMC Earnings Cheat Sheet for the Fourth Quarter
Results: Reported a profit of $81.7 million ($1.10 per diluted share) in the quarter. The chemicals company had a net loss of $53.5 million or a loss of 74 cents per share in the year earlier quarter.
Revenue: Rose 12.1% to $908.6 million from the year earlier quarter.
Actual vs. Wall St. Expectations: FMC Corporation reported adjusted net income of $1.58 per share. By that measure, the company beat the mean estimate of $1.38 per share. It beat the average revenue estimate of $883.2 million.
Quoting Management: Pierre Brondeau, FMC president, chief executive officer and chairman, said, “Our fourth quarter results provided a strong finish to a year of remarkable accomplishment for FMC. We achieved record financial performance in 2011 and made great progress implementing our Vision 2015 strategic plan.”
The company has now topped analyst estimates for the last four quarters. It beat the mark by 3 cents in the third quarter, by 2 cents in the second quarter, and by 5 cents in the first quarter.
Revenue has risen the past four quarters. Revenue increased 11.6% to $862.1 million in the third quarter. The figure rose 4.6% in the second quarter from the year earlier and climbed 5.1% in the first quarter from the year-ago quarter.
Looking Forward: Next quarter’s results are expected to be more favorable for the company. Over the past sixty days, the average estimate for the first quarter of the next fiscal year has reached $1.71 per share, up from $1.61. For the fiscal year, the average estimate has moved up from $5.76 a share to $5.77 over the last sixty days.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
Don’t Miss These Additional Hot Stories:
To contact the reporter on this story: Derek Hoffman at firstname.lastname@example.org
To contact the editor responsible for this story: Damien Hoffman at email@example.com