The 10-second takeaway
For the quarter ended Sep. 30 (Q3), FMC missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share increased.
Gross margins increased, operating margins expanded, net margins dropped.
FMC notched revenue of $902.4 million. The seven analysts polled by S&P Capital IQ hoped for a top line of $931.4 million on the same basis. GAAP reported sales were 4.7% higher than the prior-year quarter's $862.1 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 $0.79. The 10 earnings estimates compiled by S&P Capital IQ predicted $0.78 per share. GAAP EPS of $0.65 for Q3 were 6.6% higher than the prior-year quarter's $0.61 per share. (The prior-year quarter included -$0.04 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 35.0%, 170 basis points better than the prior-year quarter. Operating margin was 17.6%, 40 basis points better than the prior-year quarter. Net margin was 10.0%, 10 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $984.2 million. On the bottom line, the average EPS estimate is $0.81.
Next year's average estimate for revenue is $3.72 billion. The average EPS estimate is $3.47.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 400 members out of 418 rating the stock outperform, and 18 members rating it underperform. Among 83 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 80 give FMC a green thumbs-up, and three 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 $60.29.
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