We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
FMC Inks Deals With Corteva for Seed Treatment Insecticides
Read MoreHide Full Article
FMC Corporation (FMC - Free Report) recently signed multi-year agreements with Corteva Agriscience to continue supplying it Rynaxypyr and Cyazypyr actives for seed treatment products. These multi-year agreements extend the current global collaboration between the two companies.
Insecticides powered by the two actives help growers protect their seed investment from key insect pests, improving yield and ensuring higher quality crops.
FMC noted that the agreements are a testimony to FMC's commitment to ensuring that growers have access to advanced crop protection products from patent-protected and qualified sources. Collaborations with companies such as Corteva add to FMC's diamide growth strategy. Corteva's expertise in seed treatment and innovation will globally expand the company’s Rynaxypyr and Cyazypyr actives.
FMC has been dedicated to growing the diamides since acquiring them in late 2017. The company partners with several crop protection companies to provide growers with its leading insecticide technology. Products containing Rynaxypyr and Cyazypyr are registered in more than 120 countries for use on hundreds of crops.
On its third-quarter earnings call, the company stated that it expects revenues between $4.9 billion and $5.1 billion for 2021, indicating a year-over-year rise of 8% at the midpoint.
The company also reaffirmed its adjusted EBITDA guidance in the band of $1.29-$1.35 billion for 2021, indicating a 6% year-over-year rise at the midpoint.
FMC raised its adjusted earnings per share outlook for 2021 to the range of $6.59-$6.99 from $6.54-$6.94 expected earlier, suggesting a year-over-year increase of 10% at the midpoint.
Free cash flow for 2021 is projected to be $480-$570 million, indicating a 4% year-over-year decline. The company also expects to buy back $350-$450 million shares in 2021.
For fourth-quarter 2021, revenues are projected in the band of $1.27-$1.47 billion, reflecting an increase of 19% at the midpoint from the prior-year quarter. Adjusted earnings are forecast in the range of $1.80-$2.20 per share, representing an increase of 41% at the midpoint.
FMC’s shares have declined 8.7% over the past year against the industry’s 15.4% rise. The company’s estimated earnings growth rate for the current year is pegged at 10.2%.
Univar has an expected earnings growth rate of 55.2% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised 9% upward over the past 60 days.
Univar beat the Zacks Consensus Estimate for earnings in the four trailing quarters, with an earnings surprise of 24.1%, on average. UNVR’s shares have rallied 53.4% over a year.
AdvanSix has an expected earnings growth rate of 197% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised 14.1% upward over the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in the four trailing quarters, with an earnings surprise of 47%, on average. ASIX’s shares have surged 137.9% over a year.
Celanese has an expected earnings growth rate of 139.7% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised 9.1% upward over the past 60 days.
Celanese beat the Zacks Consensus Estimate for earnings in the four trailing quarters, with an earnings surprise of 12.7%, on average. Shares of CE have rallied around 24.7% over a year.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
FMC Inks Deals With Corteva for Seed Treatment Insecticides
FMC Corporation (FMC - Free Report) recently signed multi-year agreements with Corteva Agriscience to continue supplying it Rynaxypyr and Cyazypyr actives for seed treatment products. These multi-year agreements extend the current global collaboration between the two companies.
Insecticides powered by the two actives help growers protect their seed investment from key insect pests, improving yield and ensuring higher quality crops.
FMC noted that the agreements are a testimony to FMC's commitment to ensuring that growers have access to advanced crop protection products from patent-protected and qualified sources. Collaborations with companies such as Corteva add to FMC's diamide growth strategy. Corteva's expertise in seed treatment and innovation will globally expand the company’s Rynaxypyr and Cyazypyr actives.
FMC has been dedicated to growing the diamides since acquiring them in late 2017. The company partners with several crop protection companies to provide growers with its leading insecticide technology. Products containing Rynaxypyr and Cyazypyr are registered in more than 120 countries for use on hundreds of crops.
On its third-quarter earnings call, the company stated that it expects revenues between $4.9 billion and $5.1 billion for 2021, indicating a year-over-year rise of 8% at the midpoint.
The company also reaffirmed its adjusted EBITDA guidance in the band of $1.29-$1.35 billion for 2021, indicating a 6% year-over-year rise at the midpoint.
FMC raised its adjusted earnings per share outlook for 2021 to the range of $6.59-$6.99 from $6.54-$6.94 expected earlier, suggesting a year-over-year increase of 10% at the midpoint.
Free cash flow for 2021 is projected to be $480-$570 million, indicating a 4% year-over-year decline. The company also expects to buy back $350-$450 million shares in 2021.
For fourth-quarter 2021, revenues are projected in the band of $1.27-$1.47 billion, reflecting an increase of 19% at the midpoint from the prior-year quarter. Adjusted earnings are forecast in the range of $1.80-$2.20 per share, representing an increase of 41% at the midpoint.
FMC’s shares have declined 8.7% over the past year against the industry’s 15.4% rise. The company’s estimated earnings growth rate for the current year is pegged at 10.2%.
Zacks Rank & Key Picks
FMC currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are Univar Solutions Inc. and AdvanSix Inc. (ASIX - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) and Celanese Corporation (CE - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Univar has an expected earnings growth rate of 55.2% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised 9% upward over the past 60 days.
Univar beat the Zacks Consensus Estimate for earnings in the four trailing quarters, with an earnings surprise of 24.1%, on average. UNVR’s shares have rallied 53.4% over a year.
AdvanSix has an expected earnings growth rate of 197% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised 14.1% upward over the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in the four trailing quarters, with an earnings surprise of 47%, on average. ASIX’s shares have surged 137.9% over a year.
Celanese has an expected earnings growth rate of 139.7% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised 9.1% upward over the past 60 days.
Celanese beat the Zacks Consensus Estimate for earnings in the four trailing quarters, with an earnings surprise of 12.7%, on average. Shares of CE have rallied around 24.7% over a year.