Fmc corporation announces second quarter earnings at higher end of guidance range; updates full-year outlook

Volume growth and restructuring savings drive year-over-year earnings improvement second quarter 2024 highlights revenue of $1.04 billion, up 2 percent versus q2 2023 and up 4 percent organically1 consolidated gaap net income of $295 million adjusted ebitda of $202 million, up 8 percent versus q2 2023 consolidated gaap income of $2.35 per diluted share adjusted earnings per diluted share of $0.63, up 26 percent versus q2 2023 gaap cash from operations of $292 million, an increase of $161 million versus q2 2023 free cash flow of $280 million, an improvement of $187 million versus q2 2023 full-year outlook 2 updates revenue outlook to range of $4.30 billion to $4.50 billion, reflecting a 2 percent decline at the midpoint versus 2023 reduces adjusted ebitda range to $880 million to $940 million, a decline of 7 percent at the midpoint versus 2023 lowers adjusted earnings per diluted share outlook to a range of $3.02 to $3.64, a decline of 12 percent at the midpoint versus 2023 increases restructuring benefit target to a range of $75 million to $100 million of adjusted ebitda net benefit updates free cash flow range to $400 million to $500 million philadelphia , july 31, 2024 /prnewswire/ -- fmc corporation (nyse: fmc ) today reported second quarter 2024 revenue of $1.04 billion, up 2 percent versus second quarter 2023, and up 4 percent organically. on a gaap basis, the company reported income of $2.35 per diluted share in the second quarter, an increase of 879 percent versus the second quarter of 2023 due to additional benefits related to tax incentives granted to the company's swiss subsidiaries in late 2023.
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