Philadelphia, Pennsylvaia, USA
Nov 1, 2022

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Results driven by robust start to the Latin American season and strong pricing actions across all regions 

Third Quarter 2022 Highlights

• Revenue of $1.38 billion, an increase of 15 percent versus Q3 2021 and up 19 percent organically1
• Consolidated GAAP net income of $118 million, down 27 percent versus Q3 2021
• Adjusted EBITDA of $261 million, down 11 percent versus Q3 2021
• Consolidated GAAP earnings of $0.95 per diluted share, down 23 percent versus Q3 2021
• Adjusted earnings per diluted share of $1.23, down 14 percent versus Q3 2021

Full-Year Outlook 2

• Raises revenue outlook to a range of $5.6 to $5.8 billion, reflecting 13 percent growth at the midpoint versus 2021
• Narrows adjusted EBITDA outlook to a range of $1.37 to $1.43 billion, reflecting 7 percent growth at the midpoint versus 2021
• Narrows adjusted earnings per diluted share outlook to a range of $7.10 to $7.60, reflecting 7 percent growth at the midpoint versus 2021, excluding any impact from potential 2022 share repurchases
• Reduces free cash flow outlook to a range of $440 to $560 million, reflecting the increased revenue outlook and inflationary impacts on working capital
• Expects up to $200 million in share repurchases, including $100 million completed in October

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Website: http://www.fmccrop.com

Published: November 2, 2022