Year-over-year sales grew 25 per cent organically
FMC Corporation has recently reported a record of fourth quarter 2021 results with revenue of $1.41 billion, an increase of 23 per cent versus fourth quarter 2020, driven by strong demand and pricing actions. Excluding the impact of foreign exchange, year-over-year sales grew 25 per cent organically. On a GAAP basis, the company reported earnings of $1.52 per diluted share in the fourth quarter, compared to $0.38 per diluted share in the fourth quarter 2020. Adjusted earnings were $2.16 per diluted share, an increase of 52 per cent versus fourth quarter 2020, and 16 cents above the midpoint of guidance.
“Our financial performance reflects the strength of our synthetic and biological portfolios, a healthy demand environment as well as accelerating price increases. Revenue growth was particularly robust in North America and Latin America,” said Mark Douglas, FMC president and chief executive officer.
Fourth quarter revenue growth was driven by 21 per cent contribution from volume and 4 per cent contribution from price with a 2 per cent currency headwind. FMC achieved higher pricing in all regions, with the highest benefit in the quarter coming from North America and Latin America.
In Asia, revenue was down 3 per cent compared to fourth quarter 2020, primarily due to weather challenges in several countries, including China. This offset solid growth in Australia and India, as well as broad-based pricing actions in the region.
