Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

FMC Cuts Forecast as Agriculure Hurt by Winter, Drought

Don't Miss Out —
Follow us on:

June 23 (Bloomberg) -- FMC Corp. cut its 2014 profit forecast and blamed prolonged winter weather in North America and drought in Brazil for hurting sales of its herbicide and insecticide.

Earnings before one-time items will be $4.10 to $4.30 a share, the Philadelphia-based company said today in a statement, compared with a previous projection of $4.35 to $4.55. The latest guidance is also less than the $4.44 average of 13 analysts’ estimated compiled by Bloomberg.

FMC also said second-quarter adjusted profit will be 95 cents to $1.05 a share, down from an earlier forecast of $1.05 to $1.15. The stock fell 4.9 percent to $71.10 in New York, the most in more than two years.

The company reaffirmed its earlier projection for earnings at its minerals, health and nutritions businesses.

FMC said in March it plans to create two independent public companies by separating its agriculture and health-care units from other businesses including lithium and alkali chemicals.

To contact the reporter on this story: Simon Casey in New York at scasey4@bloomberg.net

To contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net Jim Efstathiou Jr.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.