FMC Corp (FMC) Earnings and Revenues Top Estimates in Q4
FMC Corp (FMC) Earnings and Revenues Top Estimates in Q4. It also surpassed the Zacks Consensus Estimate of $1,194.4 million.Revenues were aided by high demand across all regions notwithstanding unfavorable weather conditions in Europe and Asia. It saw higher volumes in all regions in the quarter.Revenue growth was supported by 11% contribution from volume, which was partly offset by a 2% unfavorable impact of currencies. Adjusted earnings are forecast in the range of $1.76-$1.86 per share, reflecting 5% growth at the midpoint compared with first-quarter 2019 figure.The company also expects to buyback $400-$500 million of its shares in 2020.Zacks Rank & Key PicksFMC currently carries a Zacks Rank #4 (Sell).Some better-ranked stocks in the basic materials space include Daqo New Energy Corp. DQ, Royal Gold, Inc. RGLD and Pretium Resources Inc. PVG.Daqo New Energy has projected earnings growth rate of 326.3% for 2020 and sports a Zacks Rank #1 (Strong Buy).