Home / Knowledge / News / Textiles / FMC Q2 revenues up 13% to $987.8mn
FMC Q2 revenues up 13% to $987.8mn
31
Jul '14
FMC Corporation reported quarterly revenue of $987.8 million in the second quarter, a 13 percent increase over the same period in 2013. The company reported net income of $109.1 million, or $0.81 per diluted share, in the second quarter of 2014, compared to net income of $118.0 million, or $0.86 per diluted share, in the second quarter of 2013. 
 
Second Quarter 2014 Highlights
-Consolidated revenues up 13 percent to $987.8 million
-Agricultural Solutions segment earnings up 5 percent
-Health and Nutrition segment earnings up 11 percent
-Minerals segment earnings up 21 percent
-Consolidated adjusted earnings per share up 9 percent to $1.01 per diluted share
-Full-year 2014 outlook reaffirmed for adjusted earnings of $4.10 to $4.30 per diluted share, an 8 percent increase compared to prior year at midpoint of range
 
Second quarter results include charges of $26.6 million after tax, or $0.20 per diluted share, compared to charges of $9.9 million after tax, or $0.07 per diluted share, in the prior-year quarter. Excluding these items in both periods, adjusted earnings were $1.01 per diluted share, an increase of 9 percent versus the prior-year quarter.
 
Segment Results and Outlook
FMC Minerals
Second-quarter segment revenue for FMC Minerals was $249.6 million, an increase of 2 percent from the prior-year quarter. Second-quarter segment earnings of $42.8 million were up 21 percent versus the prior-year quarter. Second-quarter revenue in Alkali Chemicals was flat compared to the prior-year quarter as higher pricing was offset by lower sales volume, driven by shipment timing, and lower freight costs due to a different geographic sales mix. 
 
Higher energy costs were offset by continued progress in manufacturing cost improvements. Export soda ash pricing increased in the second quarter compared to the first quarter of this year. Lithium continued to benefit from higher production rates versus 2013 resulting in higher sales and improved profitability.
 
Full-year segment earnings in 2014 are expected to be high-teens percent higher than the previous year, primarily driven by improved Lithium operations, soda ash volume increases and more favorable soda ash pricing versus 2013. For Alkali Chemicals, the company has assumed pricing to remain stable for the remainder of the year, and expects the next long-wall move to take place in the fourth quarter.
 
Click here to view full results.
 

FMC Corporation


Must ReadView All

(left to right) Rohit Munjal, Ashok  Shah, Rahul Mehta, Premal Udani, Rajesh Masand and Jayesh  Shah

Textiles | On 28th Jun 2017

CMAI to host 822 exhibitors at 65th National Garment Fair

The Clothing Manufacturers Association of India (CMAI) will host over ...

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search