News Formal

FMC Stock Tumbles on Revenue Warning Ahead of Earnings

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 97%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

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

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

FMC stock was down 16% to $56 in premarket trading. Coming into Monday’s trading session, shares have fallen 46% this year. 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.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 3. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

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.
출처: MarketWatch - 🏆 3. / 97 더 많은 것을 읽으십시오 »