FMC Corp.’s stock drops on revenue warning as company launches cost structure review

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.

FMC Corp.’s FMC, +0.54% stock was down 13.7% in premarket trades Monday after the agricultural-sciences company cut is financial outlook due to lower sales volumes in Latin America. FMC said it’s launched a restructuring process for its operations in Brazil along with “a broader, more comprehensive process to review and adjust our total company cost structure.

” FMC did not provide any additional details on its restructuring. FMC said it now expects third-quarter revenue of $982 million, below the FactSet consensus estimate of just under $1.2 billion. For the fourth quarter, FMC is targeting revenue of $1.14 billion to $1.38 billion, below the analyst estimate of $1.67 billion. For 2024, it’s targeting revenue of $4.48 billion to $4.72 billion, against a current analyst view of $5.54 billion.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines