FMC Agricultural Solutions sales increased 109% in Q1 2018

FMC Agricultural Solutions reported first quarter revenue of $1.1 billion, an increase of 109 percent year-over-year due to the strength of the DuPont acquisition.  On a pro forma basis, revenue increased 13 percent, of which foreign exchange contributed 3 to 4 percent growth.  Segment earnings before interest, tax, depreciation and amortization (EBITDA) of $356 million increased 250 percent year-over-year and were $51 million above the mid-point of the prior guidance range.

FMC is raising full-year estimates for Agricultural Solutions.  Full-year revenue for 2018 is now forecasted to be in the range of $4.05 billion to $4.25 billion, up 2.5 percent at the mid-point compared to prior guidance.  This implies 7 to 8 percent year-over-year growth on a pro forma basis, of which foreign exchange will contribute 1 to 2 percent growth.  Full-year segment EBITDA is expected to be in the range of $1.16 billion to $1.24 billion, up $100 million at the mid-point compared to prior guidance.  Second quarter segment EBITDA is forecasted to be in the range of $315 million to $345 million.