- Special Report: Syria's Islamists seize control as moderates dither
- Angelina Jolie stunt double sues News Corp over hacking
- Global shares flat, dollar steady before Fed decision
- Prosecutors plan more charges against accused Cleveland kidnapper
- Journalist who brought down U.S. general is killed in Los Angeles car crash
FMC Corp posts strong results, forecasts weak 3rd-qtr profit
* FMC Corp Q2 adj EPS $0.92 vs est $0.90
* Q2 sales $905.2 mln vs est $901.4 mln
* Sees Q3 EPS $0.70-$0.80 vs est $0.82
* Cabot Corp Q2 adj EPS $1 vs est $1
* Expects FY EPS of $4.90-$5 vs est $3.35
July 31 (Reuters) - Chemicals maker FMC Corp posted a better-than-expected quarterly profit on increased sales volumes and higher prices but forecast a weak third-quarter profit.
FMC expects to earn 70 cents to 80 cents per share in the third quarter. Analysts on average were expecting a profit of 82 cents per share, according to Thomson Reuters I/B/E/S.
The company reported a net income of $104.9 million, or 76 cents per share, for the second quarter, compared with $107.2 million, 74 cents per share, a year earlier.
Excluding one-time items, the company earned 92 cents per share.
Sales for the company, which supplies chemicals to agricultural, industrial and consumer companies, rose 11 percent to $905.2 million.
Analysts on average had expected it to earn 90 cents per share on revenue of $901.4 million.
Sales at its largest segment, agricultural products, rose 19 percent on higher demand in Latin America and North America.
Separately, smaller rival Cabot Corp reported a quarterly profit in line with analysts' expectations and forecast a strong full-year profit.
Cabot posted an adjusted profit of $1 per share in the third quarter. It expects to earn $4.90 to $5 per share for 2012, higher than analysts' estimates of $3.35 per share.
FMC shares, which have gained 18 percent in the past six months, closed at $54.70 on Tuesday on the New York Stock Exchange. Cabot shares closed at $39 on the same exchange.
- Tweet this
- Share this
- Digg this