FMC Corporation provides updated agricultural solutions segment forecast for the first quarter of 2014
Philadelphia, Pennsylvania, USA
March 18, 2014
FMC Corporation (NYSE: FMC) today announced that the period of extended cold weather in North America is leading to a later than usual demand pattern for its crop protection products. For the full year, the company has not changed the outlook for its Agricultural Solutions segment. It continues to expect a mid-teens percent growth in revenues and operating profits in the segment. However, based on recently available information, the company now expects that first quarter 2014 segment operating profit for Agricultural Solutions will be down mid-20's percent versus the first quarter of 2013.
Pierre Brondeau, FMC president, CEO and chairman, said: "We continue to see extremely strong demand for our products in North America. Last year, we saw how quickly growers can apply crop protection products and plant seeds, and we expect a similar situation to occur as soon as the fields are ready. We have been working closely with our customers and are ready to deliver products to meet growers' demands. Unfortunately, agricultural seasons do not always match quarterly reporting periods. We are confident that the first quarter performance merely reflects a timing shift, and we remain confident in our full year outlook for the Agricultural Solutions segment."
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Website: http://www.fmccrop.com Published: March 18, 2014 |
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