FMC Corp. Q1 Profit Matches Estimates; Reaffirms 2014 Adj. EPS Outlook

(RTTNews) - FMC Corporation (FMC) reported that its first-quarter income to shareholders from continuing operations, net of tax, decreased to $115.7 million from $134.1 million, previous year. Earnings per share from continuing operations was $0.86, compared to $0.96.

Net income was $65.6 million, or $0.49 per share, in the first quarter of 2014, compared to $130.9 million, or $0.94 per share, last year. The company noted that its first-quarter results include charges of $61.3 million after tax, or $0.46 per share, compared to charges of $18.1 million after tax, or $0.14 per share, in the prior-year quarter. Adjusted earnings were $0.95 per share, for the quarter.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.95 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $941.8 million from $910.7 million. Analysts expected revenue of $927.24 million for the quarter. The company reaffirmed its full-year 2014 outlook for adjusted earnings of $4.35 to $4.55 per share. Analysts expect the company to report full year 2014 profit per share of $4.48.