AgroPages-FMC agrochem sales up 9% in Q1 2013-Agricultural news

FMC agrochem sales up 9% in Q1 2013

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FMC agricultural products' segment revenues were up by 9% to $495.2 million in the first quarter of 2013 ended on Mar 31 versus the prior-year quarter, driven principally by strong performance in North America. First-quarter segment earnings rose by 25.1% to $163.3 million versus the year-ago quarter driven principally by higher volumes and favorable mix in North America.

The Agricultural Products Group will be renamed FMC Agricultural Solutions, reflecting the value-added solutions and services that the company provides to its customers.

FMC’s Agricultural Products sales results ($ million)
Q1 ended Mar. 31	Q1 2013	Q1 2012	change%
Sales	495.2	454.2	+9.0
Income from continuing operations before income taxes	163.3	130.5	25.1

Outlook

Regarding the outlook for 2013, Pierre Brondeau, FMC president, chief executive officer and chairman said, "For the second quarter of 2013, we anticipate adjusted earnings of $0.87 to $0.97 per diluted share. We expect continued strength in Agricultural Products, with segment earnings in the second quarter to be up in the mid- to high-single digits percent versus a very strong second quarter in 2012. "

"For the full year 2013, we have raised our midpoint guidance by 9 cents, reflecting increased certainty in the full year outlook. We expect to deliver full-year adjusted earnings of $3.93 to $4.07 per diluted share, a 15 percent increase over 2012 at the midpoint of this range. We expect stronger performance from our Agricultural Products segment driven by volume growth globally, particularly in North America, Latin America and Asia due to strong market conditions and growth in new products.” said Brondeau.