FMC Corporation (NYSE: FMC) reported fourth quarter and full year 2018 financial results. Revenue was USD 1.2 Billion, including USD 106 million non-cash charge to deal. Pierre Brondeau, FMC CEO and chairman said: “FMC delivered another very strong quarter. In Agricultural Solutions, we grew sales 23 percent on a pro forma basis, excluding an estimated 5 percent headwind from foreign currencies. This was significantly above the market and our key competitors, as we continue to capitalize on the strength of our broad portfolio and capture new sales synergies. In Lithium, we had another strong operating quarter, and we are set to complete the spinoff of Livent Corporation on March 1, 2019.”
For the year, the company reported revenue of USD 4.7 Billion, a 64 percent increase compared to a year prior. Fourth quarter revenue was USD 1.1 Billion. Sales in the U.S.A. increased 21 percent. Demand for hebicides and insecticides rose.
“We expect a disproportionate amount of the full-year impact from higher raw material costs and currency headwinds to occur in the first half of 2019, leading to flat year-over-year adjusted EBITDA in the first quarter. We are nevertheless highly confident that we will recover all the raw material increase and a significant amount of the FX impact via price increases in all regions over the full year,” said Brondeau.