PHILADELPHIA (AP) _ FMC Corp. (FMC) on Tuesday reported fourth-quarter net income of $49.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Philadelphia-based company said it had net income of 38 cents. Earnings, adjusted for one-time gains and costs, came to $1.42 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.
The chemical producer posted revenue of $1.15 billion in the period.
For the year, the company reported profit of $551.5 million, or $4.22 per share. Revenue was reported as $4.64 billion.
For the current quarter ending in April, FMC expects its per-share earnings to range from $1.40 to $1.60. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.11.
The company said it expects revenue in the range of $1.13 billion to $1.2 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $1.38 billion.
FMC expects full-year earnings in the range of $6.65 to $7.35 per share, with revenue ranging from $4.9 billion to $5.1 billion.
FMC shares have climbed 1% since the beginning of the year, while the Standard & Poor's 500 index has climbed 4%. In the final minutes of trading on Tuesday, shares hit $116.36, a rise of 11% in the last 12 months.