FMC agchem sales down 12% in Q2 2016

FMC Agricultural Solutions sales decreased by 11.8% to $552 million in the second quarter of 2016, and segment earnings were down by 17.1% to $101 million in this quarter.  On a pro forma basis, second quarter segment revenue declined 19% principally due to lower sales volume, largely driven by product rationalization, and foreign currency headwinds.  Segment earnings declined 14% compared to pro forma results for second quarter 2015, as the impact of lower sales volumes, less favorable product mix and a stronger U.S. dollar were partially offset by lower operating costs.


For the first half year of 2016, FMC Agricultural Solutions sales increased by 7.9% to $1,098.1 million, and segment earnings fell by 10.7% to $182.7million.

For the full-year, segment revenue is expected to be in the range of $2.2 billion to $2.4 billion and segment earnings are expected to be in the range of $380 million to $420 million.  Third quarter segment earnings are expected to be in the range of $80 million to $90 million.