FMC Slashes Q2, FY23 Revenue Outlook

(RTTNews) - Agricultural sciences company FMC Corp. (FMC) on Monday slashed its revenue guidance for the second quarter and full-year 2023, driven by substantially lower-than-expected volumes due to an abrupt and significant reduction in inventory by channel partners in North America, Latin America and EMEA.

The company now projects revenues for the second quarter to be between $1.42 billion and $1.48 billion and for the full-year 2023 to be between $5.20 billion to $5.40 billion.

Previously, the company expected revenues for the second quarter to be between $1.00 billion and $1.03 billion and for the full-year 2023 to be between $6.08 billion to $6.22 billion.

On average, analysts polled by Thomson Reuters expect the company to report revenues of $1.50 billion for the second quarter and $6.11 billion for the full-year 2023.