PHILADELPHIA (AP) — PHILADELPHIA (AP) — FMC Corp. (FMC) on Monday reported first-quarter net income of $196 million.
On a per-share basis, the Philadelphia-based company said it had profit of $1.55. Earnings, adjusted for restructuring costs and to account for discontinued operations, were $1.77 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.73 per share.
The chemical producer posted revenue of $1.34 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $1.42 billion.
For the current quarter ending in June, FMC expects its per-share earnings to range from $1.66 to $1.86. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.54.
The company said it expects revenue in the range of $1.42 billion to $1.48 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $1.49 billion.
FMC expects full-year earnings in the range of $7.34 to $7.94 per share, with revenue ranging from $6.08 billion to $6.22 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a FMC">Zacks stock report on FMC at https://www.zacks.com/ap/FMC