FMC agchem sales up 25% in Q3 2013

Date:10-31-2013

FMC Agricultural Solutions' third-quarter segment sales recorded a 25.2% increase to $530.2 million over the same period of last year. Sales growth was driven by a strong start to the Latin American season.  Sales in Latin America increased significantly, reflecting a rebound in cotton acreage, increased soybean planted area and growth in newly introduced products.  North American markets saw lower demand as a result of pest pressures that were below last year's levels.  Third quarter segment earnings rose by13.2% at $114.2 million as volume gains were partially offset by regional mix, continued investments to support growth and short-term foreign exchange volatility.  Nine months sales posted a 15.5% increase to $1,468.0 million year-over-year. Earnings grew by 17% at $ 402.2 million.

FMC’s Agricultural Products sales results ($ million)
Q3 ended Sep. 30	Q3 2013	Q3 2012	change%	Nine months 2013	Nine months 2012	change%
Sales	530.2	423.6	+25.2	1,468.0	1,271.4	+15.5
Income from continuing operations before income taxes	114.2	100.9	+13.2	402.2	343.7	+17.0

The company anticipates continued growth and market penetration in Latin American markets in the fourth quarter.  Volume gains in nearly all geographies, plus benefits from newly introduced products, will contribute to a 10th consecutive year of record segment earnings, increasing mid- to high-teens percent over 2012.