Home / Knowledge / News / Textiles / FMC Corporation Q3 revenues rise 16%
FMC Corporation Q3 revenues rise 16%
29
Oct '13
FMC Corporation reported third quarter revenues of $957.4 million, a 16 percent increase over the same period in 2012. 

The company reported net income of $17.9 million, or $0.13 per diluted share, in the third quarter of 2013, versus net income of $90.0 million, or $0.65 per diluted share, in the third quarter of 2012. 

Third quarter results include charges of $92.3 million after tax, or $0.69 per diluted share, compared to charges of $17.1 million after tax, or $0.12 per diluted share, in the prior-year quarter.  Excluding these items in both periods, adjusted earnings were $0.82 per diluted share in the current quarter, an increase of 7 percent versus the prior-year quarter. 

Third Quarter 2013 Highlights

- Consolidated revenues up 16 percent to $957.4 million
- Consolidated adjusted earnings per share up 7 percent to $0.82 per diluted share
- Agricultural Solutions segment earnings up 13 percent
- Health and Nutrition segment earnings up 2 percent
- Minerals segment earnings down 20 percent

2013 Outlook

- Continued strong momentum in Agricultural Solutions expected to deliver 10th consecutive year of record segment earnings

- Robust fourth quarter segment earnings growth in Health and Nutrition driven by organic growth and contributions from acquired businesses

- Improving operational performance in Lithium and continued export price increases in soda ash to provide sequential fourth quarter earnings growth in Minerals

- Full-year 2013 outlook for adjusted earnings of $3.74 to $3.84 per diluted share, a 12 percent increase compared to prior year at midpoint of range

FMC Minerals

FMC Minerals' third-quarter segment revenues of $237.8 million increased 6 percent from the year-ago quarter.  Third-quarter segment earnings of $27.7 million were down 20 percent versus the previous year. 

In Alkali Chemicals, higher global soda ash sales volumes were offset by lower export pricing and one-time production factors that impacted costs.  Given these conditions, the company elected to perform further maintenance, which resulted in additional costs in the quarter.  The Lithium business, despite year-on-year flat financial performance, demonstrated continuous daily production rates that were 25 to 30 percent above pre-expansion rates in the quarter.

FMC anticipates these process improvements will result in improved Lithium performance in the fourth quarter.  In Alkali Chemicals, the company saw improvements in Asian soda ash pricing in the third quarter, and expects this trend to continue in the fourth quarter. 

For the full year, segment earnings are expected to be down mid- to low-20's percent versus the previous year, as Alkali volume increases will be offset by lower average soda ash export pricing and by the Lithium operational challenges from earlier in the year.

Click here to read full results  

FMC Corporation


Must ReadView All

Courtesy: ITMA 2015

Textiles | On 21st Jun 2018

Italy to host textile machinery fair ITMA in 2023

ITMA, the trendsetting textile and garment technology platform, will...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search