Tags: FMC | Forecast | Winter | Drought | Agriculture

FMC Cuts Forecast as Winter, Drought Hurt Agriculture Sales

Monday, 23 Jun 2014 05:15 PM

FMC Corp. cut its 2014 profit forecast and blamed prolonged winter weather in North America and drought in Brazil for hurting sales of its herbicide and insecticide.

Earnings before one-time items will be $4.10 to $4.30 a share, the Philadelphia-based company said Monday in a statement, compared with a previous projection of $4.35 to $4.55. The latest guidance is also less than the $4.44 average of 13 analysts’ estimated compiled by Bloomberg.

FMC also said second-quarter adjusted profit will be 95 cents to $1.05 a share, down from an earlier forecast of $1.05 to $1.15. The stock fell 4.9 percent to $71.10 in New York, the most in more than two years.

The company reaffirmed its earlier projection for earnings at its minerals, health and nutritions businesses.

FMC said in March it plans to create two independent public companies by separating its agriculture and health-care units from other businesses including lithium and alkali chemicals.

© Copyright 2017 Bloomberg News. All rights reserved.

 
1Like our page
2Share
Companies
FMC Corp. cut its 2014 profit forecast and blamed prolonged winter weather in North America and drought in Brazil for hurting sales of its herbicide and insecticide.
FMC, Forecast, Winter, Drought, Agriculture
154
2014-15-23
Monday, 23 Jun 2014 05:15 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved