Fmc corporation delivers first quarter earnings at higher end of guidance range, maintains full-year outlook

Significant improvement in first quarter cash from operations, up $708 million versus prior year period first quarter 2024 highlights revenue of $918 million, down 32 percent versus q1 2023 and down 31 percent organically1 consolidated gaap net loss of $3 million, down 102 percent versus q1 2023 adjusted ebitda of $161 million, down 56 percent versus q1 2023 consolidated gaap loss of $0.02 per diluted share, down 101 percent versus q1 2023 adjusted earnings per diluted share of $0.36, down 80 percent versus q1 2023 gaap cash from operations of negative $143 million, an improvement of $708 million versus q1 2023 free cash flow of negative $188 million, an improvement of $727 million versus q1 2023 strong contribution from new product introductions (npi3) full-year outlook 2 maintains revenue outlook of $4.50 billion to $4.70 billion, reflecting 2.5 percent growth at the midpoint versus 2023 maintains adjusted ebitda outlook of $900 million to $1.05 billion, essentially flat at the midpoint versus 2023 adjusted earnings per diluted share outlook unchanged at $3.23 to $4.41, an increase of 1 percent at the midpoint versus 2023 restructuring continues, and company maintains target of $50 million to $75 million of adjusted ebitda net benefit free cash flow outlook of $400 million to $600 million is unchanged philadelphia , may 6, 2024 /prnewswire/ -- fmc corporation (nyse:fmc) today reported first quarter 2024 revenue of $918 million, down 32 percent versus first quarter 2023, and down 31 percent organically. on a gaap basis, the company reported a loss of $0.02 per diluted share in the first quarter, a decrease of 101 percent versus first quarter 2023.
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