Fmc corporation reports strong growth in third quarter, confirms full-year outlook adjusted for expected sale of gss business

Volume growth and higher cost savings  led to earnings above  the  high end of guidance range third quarter 2024 highlights revenue of $1.07 billion, an increase of 9 percent versus q3 2023 and up 12 percent organically1 consolidated gaap net income of $66 million, up $70 million from a net loss of $4 million in q3 2023 adjusted ebitda of $201 million, up 15 percent versus q3 2023 consolidated gaap net income of $0.52 per diluted share, up $0.55 from a net loss of $0.03 per diluted share in q3 2023 adjusted earnings per diluted share of $0.69, up 57 percent versus q3 2023 gaap cash from operations of $160 million with free cash flow of $132 million full-year outlook 2 revenue outlook of $4.33 billion to $4.44 billion, reflecting a 2 percent decline at the midpoint versus 2023; reduced $20 million for loss of contribution from global specialty solutions (gss) business3 adjusted ebitda outlook range of $885 million to $915 million, reflecting an 8 percent decline at the midpoint versus 2023; reduced $10 million for loss of contribution from gss business3 adjusted earnings per diluted share outlook range of $3.16 to $3.52, reflecting a 12 percent decrease at the midpoint versus 2023 increases target restructuring savings range to $125 million to $150 million of adjusted ebitda net benefit free cash flow outlook range unchanged at $400 million to $500 million philadelphia , oct. 29, 2024 /prnewswire/ -- fmc corporation (nyse: fmc) today reported third quarter 2024 revenue of $1.07 billion, an increase of 9 percent versus third quarter 2023 and up 12 percent organically. on a gaap basis, the company reported net income of $0.52 per diluted share in the third quarter, up from a net loss of $0.03 per diluted share in the third quarter 2023 driven by higher sales and lower costs from restructuring actions as well as a lower effective tax provision.
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