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FMC cuts guidance on weaker-than-expected ag rebound

1:35 PM MDT | June 30, 2014 | —Vincent Valk

FMC announced on 23 June that it is cutting its second-quarter and full-year earnings guidances by about 9.1% and about 5.6%, respectively. The cuts are due to persistent weakness in the company’s agricultural solutions segment, which is now expected to increase revenue and earnings by a percentage in the “mid–single digits,” the company says. FMC says it expects second quarter earnings of 95 cts–$1.05/share and full-year results of $4.10–4.30/share. The ag weakness is mostly due to cold weather in North America in early 2014...

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