FMC 3Q Profit Nearly Triples On Higher Revenue, Margins

FMC Corp.s (FMC) third-quarter profit nearly tripled on improved revenue and margins as well as lower restructuring charges at the chemical-products maker.

Chairman and Chief Executive Pierre Brondeau said, "We delivered another strong quarter with double-digit earnings increases and significant margin expansion in all three operating segments."

FMC, which makes products including insecticide and hydrogen peroxide, performed better than rivals during the recession because only 40% of its sales are tied to the more economically sensitive area of industrial chemicals.

For the latest quarter, FMC reported a profit of $82.9 million, or $1.13 a share, up from $28 million, or 38 cents a share, a year earlier, which included 51 cents of restructuring charges. In July, FMC forecast earnings of $1 to $ 1.15.

Revenue rose 8.3% to $772.5 million. Analysts recently estimated $770.2 million, according to a poll by Thomson Reuters.

Gross margin rose to 33% from 28.5%.

Profit in FMCs largest segment, agricultural products, climbed 27% and while growth was 45% in industrial chemicals, the second-largest segment.

For the current quarter, FMC predicted earnings of 95 cents to $1.05 a share, while analysts on average estimated $1.03.

FMCs shares closed at $69.33 and were inactive after hours. The stock, which reached a two-year high Monday, is up 24% this year on the companys improved performance.