The 10-second takeaway
For the quarter ended March 31 (Q1), FMC beat expectations on revenue and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share grew significantly.
Margins expanded across the board.
FMC reported revenue of $940.7 million. The six analysts polled by S&P Capital IQ looked for net sales of $894.3 million on the same basis. GAAP reported sales were 18% higher than the prior-year quarter's $795.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.94. The nine earnings estimates compiled by S&P Capital IQ predicted $1.85 per share. GAAP EPS of $1.71 for Q1 were 32% higher than the prior-year quarter's $1.30 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 36.9%, 70 basis points better than the prior-year quarter. Operating margin was 20.0%, 20 basis points better than the prior-year quarter. Net margin was 12.7%, 90 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $898.9 million. On the bottom line, the average EPS estimate is $1.78.
Next year's average estimate for revenue is $3.71 billion. The average EPS estimate is $6.94.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 399 members out of 416 rating the stock outperform, and 17 members rating it underperform. Among 93 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 89 give FMC a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on FMC is outperform, with an average price target of $109.86.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.