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FMC Corporation Announces Fourth Quarter and Full Year 2018 Results

Fourth Quarter Highlights
  • Agricultural Solutions segment revenue of $1.1 billion, up 18 percent versus Q4 ‘17, on a pro forma basis1
  • Agricultural Solutions segment EBITDA of $302 million, up 35 percent versus Q4 ‘17
  • Consolidated GAAP earnings of $0.24 per diluted share
  • Consolidated adjusted earnings per diluted share of $1.69, up 54 percent versus Q4 ‘17
Full Year 2019 Outlook (excludes Lithium)2,3,4 
  • Revenue of $4.45 billion to $4.55 billion, up 5 percent at the midpoint versus recast 2018
  • Total company adjusted EBITDA of $1.165 to $1.205 billion, up 7 percent at the midpoint versus recast 2018
  • 2019 adjusted earnings are expected to be in the range of $5.55 to $5.75 per diluted share, up 8 percent at the midpoint versus recast 2018, excluding any impact from share repurchases in 2019
  • Company expects to repurchase up to $500 million of FMC shares, including $100 million already purchased in 2019
  • Company set to spin remaining Livent stake on March 1, 2019
Click here to read the full press release. 

  1. Pro forma calculations for 2017 include the impact of the DuPont Crop Protection acquisition assuming the acquisition occurred at the beginning of the period.  The acquisition occurred on November 1, 2017.
  2. Although we provide forecasts for adjusted earnings per share and total company 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.
  3. Adjusted earnings outlook excludes the Lithium segment, as that business is expected to be reported as discontinued operations in 2019, based on our expectation that we will distribute our remaining stake in Livent Corporation (84 percent) to FMC shareholders on March 1, 2019.
  4. Recast calculations for 2018 exclude the Lithium segment entirely, as we intend to show a true year-over-year comparable metric for the 2019 periods. The recast represents our best estimate at this time. Due to complexities including U.S. Tax Reform, the full recasting is not yet completed. The completed recast results will be filed on a Form 8-K in March 2019.

·       Livent Celebrates IPO and First Day of Trading on New York Stock Exchange

·         Livent Corporation, a leading, global, fully integrated lithium technology company, opened for trading today on the New York Stock Exchange (NYSE) after its initial public offering. 

Click here for more information.

March 22, 2019
FMC Corporation Issues 2018 Annual Report and 2019 Proxy Materials

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