FMC Corporation Announces First Quarter Results and Realignment of Portfolio
- First quarter 2013 revenue up 5 percent to $990.2 million, with adjusted operating profit up 10 percent and businesses performing largely as anticipated
- First quarter 2013 adjusted earnings up 13 percent to $1.10 per diluted share
- Realigning portfolio around three core platforms: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Minerals
- Exploring the divestiture of its Peroxygens business, including select Environmental Solutions product lines and related assets
- Raising midpoint of full-year adjusted earnings guidance by 9 cents to a range of $3.93 to $4.07 per diluted share, reflecting confidence in full-year outlook
PHILADELPHIA, April 30, 2013 /PRNewswire/ -- FMC Corporation (NYSE: FMC) today reported first quarter revenue of $990.2 million, a 5 percent increase over the same period in 2012. The company reported net income of $130.9 million, or $0.94 per diluted share, in the first quarter of 2013, versus net income of $119.1 million, or $0.85 per diluted share, in the first quarter of 2012. This quarter's results include charges of $20.6 million after tax, or $0.16 per diluted share, compared to charges of $16.3 million after tax, or $0.12 per diluted share, in the prior-year quarter. Excluding these items in both periods, adjusted earnings were $1.10 per diluted share in the current quarter, an increase of 13 percent versus the prior-year quarter.