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FMC Corp - Stock Quote FMC

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Morningstar's FMC Corp Stock Analysis

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Maintaining $135 FVE as FMC Reports Solid Q1; Shares Slightly Undervalued

Seth Goldstein, CFA Senior Equity Analyst

Analyst Note

| Seth Goldstein, CFA |

FMC reported solid first-quarter results. Adjusted EBITDA was up 16% year on year versus the prior-year quarter as higher prices, increased volumes, and a mix shift toward new premium products more than offset cost inflation. The results were in line with our outlook for the year. We continue to expect FMC to benefit from a mix shift toward premium-priced products as the company sees volume growth from new products launched in the past several years. Additionally, we forecast FMC will be able to raise prices across many of its products to largely offset cost inflation. With our outlook intact, we maintain our $135 per share fair value estimate for FMC. Our narrow-moat rating is also unchanged.

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FMC Corp's Company Profile

Business Description

FMC is a pure-play crop chemical company. The company has diversified its sales to create a balanced crop chemical portfolio across geographies and crop exposure. Through acquisitions, FMC is now one of the five largest patented crop chemical companies and will continue to develop new products through its research and development pipeline.

2929 Walnut Street
Philadelphia, PA, 19104
T +1 215 299-6000
Sector Basic Materials
Industry Agricultural Inputs
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 6,400