Fmc corporation announces fourth quarter and full-year 2023 results within guidance ranges, provides 2024 outlook

N ew product s and branded diamide s delivered strong results  despite continued destocking .  fourth quarter 2023 highlights revenue of $1.15 billion, a decrease of 29 percent versus q4 2022 and down 30 percent organically1 consolidated gaap net income of $1.10 billion, up 291 percent versus q4 2022 adjusted ebitda of $254 million, down 41 percent versus q4 2022 consolidated gaap earnings of $8.77 per diluted share, up 304 percent versus q4 2022 adjusted earnings of $1.07 per diluted share, down 55 percent versus q4 2022 14 percent of sales in the quarter from new product introductions (npi) full-year 2023 highlights revenue of $4.49 billion, reflecting a year-over-year decline of 23 percent and down 22 percent organically1 consolidated gaap net income of $1.32 billion, up 78 percent versus 2022 adjusted ebitda of $978 million, down 30 percent versus 2022 consolidated gaap earnings of $10.53 per diluted share, up 81 percent versus 2022 adjusted earnings of $3.78 per diluted share, down 49 percent versus 2022 consolidated gaap cash flow from operations of negative $300 million, down 145 percent versus 2022 free cash flow of negative $524 million, down 202 percent versus 2022 npi sales of $590 million represented annual record 13 percent of total revenue full-year 2024 outlook 2 revenue of $4.50 to $4.70 billion, reflecting 2.5 percent growth at the midpoint adjusted ebitda of $900 million to $1.05 billion, essentially flat to prior year at the midpoint restructuring fully underway and expect to receive $50 to $75 million of adjusted ebitda benefit adjusted earnings per diluted share of $3.23 to $4.41, reflecting 1 percent growth at the midpoint free cash flow is expected to be in the range of $400 to $600 million, reflecting greater than 100 percent cash flow conversion at the midpoint philadelphia , feb. 5, 2024 /prnewswire/ -- fmc corporation (nyse: fmc) today reported fourth quarter 2023 revenue of $1.15 billion, a decrease of 29 percent versus fourth quarter 2022, driven by continued channel destocking in all regions with adverse weather in brazil being a further headwind in latin america.
FMC Ratings Summary
FMC Quant Ranking