FMC Third-Quarter Profit Jumps on Americas Volume Growth

FMC Agricultural Solutions reported third-quarter revenue of $552 million and segment earnings of $118 million, a record third quarter earnings performance for the segment.

Pierre Brondeau, FMC president, CEO and chairman said: “FMC delivered a very strong quarter. In Ag Solutions, we are especially pleased with the significant volume growth in Latin America and North America.”

Third quarter segment revenue grew 6% year-over-year, excluding India. The increase was driven by strong volume growth in the Americas, offset by revenue declines in Asia and Europe. The company took actions in India to prepare for the integration of the different market access channels between FMC and the acquired business, which reduced overall Agricultural Solutions revenue by 7%. In total, third-quarter revenue was down 1% year over year. Segment earnings increased 31% compared to the third quarter of 2016, with volume gains and lower costs having the largest impact.

Agricultural Solutions full-year revenue is forecasted to be in the range of $2.5 and $2.6 billion and segment earnings are expected to be in a range of $465 to $485 million. The legacy Agricultural Solutions business is expected to contribute $2.3 billion to $2.4 billion of revenue and $425 to $445 million of earnings in 2017; this legacy contribution to segment earnings guidance represents 9% year-over-year growth and a $5 million increase versus prior guidance, at the mid-point. Fourth quarter segment earnings are forecasted to be in the range of $168 million to $188 million.

FMC expects adjusted earnings per share to be in the range of $2.59 to $2.69 for the full year 2017, including the impact of two months contribution from the DuPont Crop Protection acquisition.

Brondeau added, “With Ag Solutions earnings up over 30% in the third quarter, and fourth quarter legacy Ag Solutions expected to post a year-over-year increase of 8%, we believe it is the perfect time to integrate the DuPont business, as our legacy business is performing very well. Conditions in the agriculture industry remain difficult, but we believe they have now stabilized. Now is a good time to be increasing our global footprint in the crop protection market.”

Topics: ,

Agrichemicals

Agrichemicals

Seed Firms’ Changes Bring Uncertainty, Promises

The months ahead will reveal what these altered players will look like and how they’ll work with dealers and growers. They’ll also show where companies are focusing efforts in trait development and crop systems.

Agrichemicals

Herbicide Debates Move Into the Courtroom

Over the past month, two herbicides, glyphosate and dicamba, have ended up with lawsuits filed in a pair of states.

Agrichemicals

Arysta LifeScience Names New Head of Europe, Middle East & Africa

Arysta LifeScience has named Hildo Brilleman as the company’s CEO of its Europe, Middle East & Africa (EMEA) region, effective

Agrichemicals

Missouri Latest U.S. State to Set Dicamba Cut-off Date for 2018

Missouri Department of Agriculture 'takes proactive measures to reduce off-target crop injury during the 2018 growing season.'

Agrichemicals

BASF Reports End of Season Dicamba Results

BASF field reps investigated 787 soybean symptomology claims during the 2017 season.

Agrichemicals

AMVAC’s Trogele: ‘Entire Downstream Channel of Our Industry Will Be Challenged’

AMVAC Chief Operating Officer Bob Trogele offered his insight on the current agrichemical environment, and on how retailers can possibly engage with post-patent companies.

Agrichemicals

Albaugh Enters Collaboration on New Wheat Varietites

Colorado Wheat Research Foundation, Inc., Albaugh, LLC and Limagrain Cereal Seeds, LLC have announced the release of the first two new herbicide-tolerant CoAXium Wheat Production System varieties.

monsanto roundup
Agrichemicals

Monsanto, Farm Groups Sue California Over Glyphosate Warning Requirement

Monsanto Co. says it has joined a coalition of U.S. farm groups in a lawsuit against the state of California to stop a requirement for cancer warnings on products containing glyphosate.

Agrichemicals

Arysta, DuPont Sign Fungicidal Seed Treatment Deal

Arysta LifeScience will supply to DuPont Crop Protection an innovative fungicide technology with an initial focus on corn and soybean seed applied products.

Agrichemicals

The Dicamba Factor to Weigh Heavily in 2018 Decisions

Other newer herbicides, too, are poised to expand growers’ options as weed resistance struggles show no signs of abating.

Agrichemicals

EU Hits Deadlock on Glyphosate Reauthorization

The EU license for glyphosate is set to expire on Dec. 15.

Agrichemicals

Is it 2008 All Over Again? Chinese Supply Crunch Hits Crop Protection Players

Post-patent players, retailers seek out options and opportunities as the unknowns of supply constraints and consolidation from the Big 6 to the Big 3 take hold.

Agrichemicals

Nufarm to Acquire Portion of FMC’s Herbicides

Nufarm will acquire FMC's SU-class herbicides and Florasulam.

Agrichemicals

Arkansas Plant Board Votes to Adopt Dicamba Cut-Off Date

Changes will prohibit dicamba use in Arkansas between April 16 and Oct. 31.

Bayer
Agrichemicals

EU Restarts Clock on Bayer-Monsanto Deal Review

The European Commission has resumed its antitrust review of Bayer’s planned takeover of U.S. seed maker Monsanto after the companies

Adjuvants

Aqua-Yield Introduces New Herbicide Adjuvant

At only 4 oz./acre application rate, Aqua-Yield has introduced the industry game-changer, Nano-Pro. In university and field testing, Nano-Pro was

Rice Field
Asia

India Asks Germany to Resolve Early Fungicide Issue in Rice

India today asked Germany to address at the earliest the issue related to the tolerance level of fungicide tricyclazole in

Fungicides

Adama New Zealand Removes Mancozeb Cover Spray from Sale

Adama New Zealand, a member of Adama Group, a global crop protection leader, has reported it had pre-emptively recalled Mancozeb

Agrichemicals

Weak Brazil Volumes, Prices Hit DowDuPont Results

Additionally, an expected reduction in corn area in Brazil, as well as a delayed start to its summer season, impacted sales in the region.

Latest News

Agrichemicals

Seed Firms’ Changes Bring Uncertainty, Promises

The months ahead will reveal what these altered players will look like and how they’ll work with dealers and growers. They’ll also show where companies are focusing efforts in trait development and crop systems.

Agrichemicals

Herbicide Debates Move Into the Courtroom

Over the past month, two herbicides, glyphosate and dicamba, have ended up with lawsuits filed in a pair of states.

Americas

Valagro Launches Biostimulant in Brazil

After being launched in Spain, Egypt, Mexico and Italy, RETROSAL is being officially presented to the Brazilian market.

Agrichemicals

Arysta LifeScience Names New Head of Europe, Middle East & Africa

Arysta LifeScience has named Hildo Brilleman as the company’s CEO of its Europe, Middle East & Africa (EMEA) region, effective

Agrichemicals

Missouri Latest U.S. State to Set Dicamba Cut-off Date for 2018

Missouri Department of Agriculture 'takes proactive measures to reduce off-target crop injury during the 2018 growing season.'