FMC Agricultural Solutions sales declined 3% in Q1 2017

FMC Agricultural Solutions reported first quarter revenue of $530 million and segment earnings of $83 million.  First quarter segment revenue declined 3 percent year-over-year, as lower sales in Europe and Latin America offset better than expected revenue in Asia and North America.  Segment earnings increased 1 percent compared to the first quarter of 2016, with improved product mix and benefit of foreign exchange cancelling out the negative impact of lower volumes.

FMC's full year outlook for Ag Solutions is unchanged. For 2017, full-year segment revenue is expected to be approximately $2.2 billion to $2.4 billion and full-year segment earnings are expected to be in the range of $410 million to $450 million, an increase of 8 percent at the mid-point compared to the prior year, driven by a strong second half in Latin America and a strong year in Asia.Second quarter segment earnings are expected to be in the range of $80 million to $100 million, a decrease of approximately 11 percent at the mid-point compared to the prior year quarter.