FMC agrochem sales up 20% in 2012

Agricultural Products' fourth-quarter segment revenues of $492.4 million increased 20.3 percent versus the prior-year quarter driven principally by continued strength in Latin America.  Fourth-quarter segment earnings of $109.9 million increased 51.4 percent versus the year-ago quarter driven by volume gains in Latin America, contributions from acquired fungicides in Asia, and early season demand in North America.  Full-year segment revenues of $1.76 billion were up 20.4 percent compared to 2011.  For the full year, segment earnings were $450.7 million, an increase of 29.4 percent, resulting from volume gains in all regions.

FMC’s Agricultural Products sales results ($ million)
Q4 ended Dec. 31	Q4 2012	Q4 2011	change%	Full Year 2012	Full Year 2011	change%
Sales	492.4	409.2	20.3	1,763.8	1,464.5	20.4
Income from continuing operations before income taxes	109.9	72.6	51.4	450.7	348.3	29.4

Pierre Brondeau, FMC president, CEO and chairman, said, "We ended 2012 with a solid fourth quarter, led by the strong performance of the Agricultural Products segment, which more than offset lower results in Specialty and Industrial Chemicals segments.

Outlook

Regarding the outlook for 2013, Brondeau said: “Our Agricultural Products segment expects to achieve its 10th consecutive year of record earnings, with pronounced strength in the early and later parts of the year. Agricultural Products' segment earnings are expected to be up approximately 20 percent, reflecting anticipated strong.” early demand in North America and a strong finish to the Latin American season.”