Revenue of $4.65 billion to $4.85 billion, reflecting 3 percent increase midpoint to midpoint from latest 2023 guidance
Adjusted EBITDA of $1.025 billion to $1.125 billion, reflecting 8 percent increase midpoint to midpoint from latest 2023 guidance
$50 million to $75 million of adjusted EBITDA contribution in 2024 from restructuring actions with approximately $150 million of run-rate savings by the end of 2025
Adjusted earnings per share expected to grow faster than adjusted EBITDA in 2024
Return on invested capital over 10 percent
Free cash flow conversion of over 100 percent
Expect to end 2024 approaching historically normal leverage metrics
2026 Goals1
Revenue of $5.5 billion to $6.0 billion
Adjusted EBITDA of $1.3 billion to $1.5 billion
Adjusted earnings per share are expected to grow faster than adjusted EBITDA
Free cash flow conversion on rolling three-year average of at least 70 percent
Return on invested capital in the mid-teens percent
Target approximately 2X net debt to adjusted EBITDA on a rolling four quarter average basis
17 November2023, Philadelphia: FMC Corporation (NYSE:FMC) will host its Investor Day later today at FMC corporate headquarters in Philadelphia where the company will outline its long-range strategic growth plan, including updated long-term financial targets, a review of the company’s R&D pipeline and a discussion about FMC’s newest synthetic and biological product portfolios.
In addition, the company will further detail its restructuring plan and provide a preliminary outlook for 2024.
“We are confident our industry-leading R&D pipeline and history of driving profitability from existing molecules through patented formulation innovation, combined with our leading position in biologicals, will drive strong revenue and earnings growth through 2026 and beyond,” said Mark Douglas, president and chief executive officer. “We’re looking forward to sharing our strategy for the mid- and long-term today at our Investor Day.”
Andrew Sandifer (Executive Vice President, Chief Financial Officer)
3:10 PM
Mark Douglas (President, Chief Executive Officer)
3:15 PM
Q&A
4:00 PM
Event ends
The Investor Day is at full capacity and walk-up registration is not accepted. A live webcast of the plenary session will be open to the public and accessible via https://investors.fmc.com/. The presentations will be made available on the FMC website today, November 16, 2023, at approximately 12:00 p.m. ET. The prepared remarks and a summary of the business showcase materials will be posted after the event ends. The full webcast will be archived for one year on FMC’s website.
