FMC Corp.'s stock (FMC, +3.72%) experienced a 1.4% rise in premarket trading on Thursday following the release of the agricultural science company's guidance for 2024. Based in Philadelphia, FMC Corp. projects a revenue range of $4.65 billion to $4.85 billion for the year, representing a 3% increase from its previous guidance for 2023. FactSet analysts anticipate 2024 revenue to reach $4.79 billion, aligning closely with the company's projections.

Positive Outlook for FMC Corp.'s Financial Performance

The company also predicts an adjusted Ebitda range of $1.025 billion to $1.125 billion for 2024, reflecting an 8% growth from its 2023 guidance. Additionally, FMC Corp. expects its adjusted per-share earnings to surpass this growth rate. With a focus on further improving its profitability, the corporation aims to achieve a return on invested capital of over 10%. Looking ahead to 2026, FMC Corp. is projecting revenues between $5.5 billion and $6.0 billion.

Investor Day and Restructuring Plan

To provide investors with a more comprehensive understanding of its future plans, FMC Corp. will be hosting an investor day later on Thursday. During this event, the company will outline its upcoming restructuring initiatives. As revealed earlier, FMC Corp. adjusted its guidance in October due to challenges faced in the Latin American market.

Stock Performance and Market Comparison

Notably, FMC Corp.'s stock has experienced a 56% decline so far this year. In contrast, the S&P 500 (SPX, +0.16%) has achieved a 17% gain during the same period.

Shoe Carnival Lowers Outlook for 2023

Crest Nicholson Holdings Trims Profit Guidance and Streamlines Operations

Leave A Reply

Your email address will not be published. Required fields are marked *