FMC downgrades Q4 expectations

摘要

FMC has reduced its outlook for the fourth quarter of 2020. It expects quarterly revenues of $1,150 million, down from the previous estimate of $1,230-$1,290 million. The new estimate would mean a decline of 3.9% compared with the same period in 2019. The company expects fourth-quarter adjusted earnings before interest, tax, depreciation and amortization (EBITDA) in the range of $285-$295 million, compared with prior guidance of $335-$355 million. That would represent a drop of 9.4% compared with the corresponding quarter in 2019.