Third quarter results significantly impacted by lower sales in Latin America, channel destocking in all regions

Third Quarter 2023 Highlights

  • Revenue of $982 million, a decrease of 29 percent versus Q3 2022 and down 29 percent organically1
  • Consolidated GAAP net loss of $4 million, down 103 percent versus Q3 2022
  • Adjusted EBITDA of $175 million, down 33 percent versus Q3 2022
  • Consolidated GAAP loss of $0.03 per diluted share, down 103 percent versus Q3 2022
  • Adjusted earnings per diluted share of $0.44, down 64 percent versus Q3 2022

Full-Year Outlook2

  • Revenue of $4.48 billion to $4.72 billion, reflecting 21 percent decline at the midpoint versus 2022
  • Adjusted EBITDA of $0.97 billion to $1.03 billion, reflecting 29 percent decline at the midpoint versus 2022
  • Lowers adjusted earnings per diluted share outlook to $3.57 to $4.13, reflecting 48 percent decrease at the midpoint versus 2022
  • Reduces free cash flow outlook to a range of negative $860 million to negative $640 million

(October 30, 2023) - FMC Corporation (NYSE:FMC) reported third quarter 2023 revenue of $982 million, a decrease of 29 percent versus third quarter 2022 and down 29 percent organically. On a GAAP basis, the company reported a net loss of $0.03 per diluted share in the third quarter, down 103 percent versus third quarter 2022. Adjusted earnings were $0.44 per diluted share, a decrease of 64 percent versus third quarter 2022.

For more information, see FMC Corporation announces third quarter results and confirms full-year outlook.