FMC Profit Soars
6 February 2014 
Credit: United Soybean Board
FMC Corp.’s crop protection business reported a 24% jump in quarterly profit, boosted by applications for Brazilian soybeans, new products and more cotton planting.
The company’s Agricultural Solutions business posted $677.7 million in revenue, up 38% from the year-ago period. The segmented made a $136.8 million profit, a 24% increase from prior-year quarter.
Major drivers were continued market penetration in Brazilian soybean applications, new product introductions and strong demand due to increased cotton acreage. In addition, early season demand in North America drove increased sales volumes for pre-emergent herbicides and insecticides. Its operating margin fell from a year ago primarily due to changes in product mix, FMC said.
For the full year, segment sales of $2.1 billion and operating earnings of $539 million represent year-over-year growth of 22% and 19%, respectively.
The company said it expects “above-market rate growth to continue into 2014, driven by new and recently introduced products.” It expects volume to grow globally, as increased focus on key crops will be complemented by acreage expansion in Latin America.
“Additionally, increasing demand for resistance management products in North America and continued focus on delivering innovative solutions globally will drive volume gains,” FMC said. The company anticipates full-year segment earnings momentum to continue in 2014 with earnings up mid-teens percent.
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