FMC issues Q1 profit warning
FMC has issued a profit warning for its first quarter. The company expects that first quarter operating profit for its Agricultural Solutions business will be down by “mid-20's percent” against last year’s first three months. It says that extended cold weather period in North America is leading to a later than usual demand for its crop protection products. The company maintains its full-year outlook for its Agricultural Solutions segment. It expects a mid-teens percent growth in revenues and operating profits. FMC president CEO and chairman Pierre Brondeau is confident that anticipated sales will arrive later. "We are confident that the first quarter performance merely reflects a timing shift, and we remain confident in our full year outlook for the Agricultural Solutions segment."