FMC Agricultural Solutions sales increased 98% in Q2 2018

FMC Agricultural Solutions reported revenue of approximately $1.2 billion in the second quarter of 2018, an increase of 98 percent year-over-year due to the strength of the DuPont acquisition. On a pro forma basis, revenue increased 8 percent, with growth in all four regions and particularly strong demand for insecticides.  Segment earnings before interest, tax, depreciation and amortization (EBITDA) of $344 million increased 202 percent year-over-year and were $14 million above the mid-point of the prior guidance range.

Full-year 2018 revenue for Agricultural Solutions is forecasted to be in the range of $4.1 billion to $4.3 billion.  This implies 9 percent year-over-year growth on a pro forma basis.  Full-year segment EBITDA is expected to be in the range of $1.17 billion to $1.23 billion.  Third quarter segment EBITDA is forecasted to be in the range of $195 million to $215 million.  Fourth quarter segment EBITDA is expected to be in the range of $275 million to $315 million.      

Pierre Brondeau, FMC CEO and chairman said: "FMC delivered a very strong quarter.  In Ag Solutions, we continued to generate robust demand for the recently acquired products as our worldwide integration is progressing very well, and we expect our second half to be very strong in Ag Solutions, driven by 7 percent year-over-year, pro forma revenue growth at the mid-point of our guidance."