FMC Cuts Guidance Ahead of Earnings. The Stock Is Worst Performer in S&P 500.

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 52 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 97%

مصر أخبار أخبار

مصر أحدث الأخبار,مصر عناوين

The crop protection company cites lower sales volumes in Latin America as a reason for lowering estimates.

Shares of FMC were sinking after the crop-protection company issued a revenue warning and launched a cost structure review ahead of earnings.

FMC fell 17% to $55.72 and was on track for its lowest close since March 30, 2017, when it closed at $53.30, according to Dow Jones Market Data. The stock also was the worst performer in the S&P 500. Shares this year have dropped 55%, putting them on pace for their worst year on record based on available data back to 1972.

The company—which will post third-quarter earnings on Oct. 30 after the stock market closes—said it now expects third-quarter revenue of $982 million, adjusted earnings before interest, tax, depreciation, and amortization of $175 million and adjusted earnings of 44 cents a share. The prior forecast called for a revenue range of $1.19 billion to $1.27 billion, adjusted EBITDA between $240 million and $290 million and adjusted EPS between 90 cents and $1.32 a share.

The guidance slash “is mainly driven by substantially lower sales volumes in Latin America, particularly destocking in Brazil and to a lesser degree drought in Argentina,” according to a press release.

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 3. in EG
 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

FMC Stock Tumbles on Revenue Warning Ahead of EarningsThe crop protection company cited lower sales in Latin America as a reason for lowering estimates.
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »

FMC Corp.’s stock drops on revenue warning as company launches cost structure reviewSteve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »