Raising Our FMC FVE to $79 on Higher Near-Term Profit Outlook; Shares Fairly Valued
FMC reported solid first-quarter earnings as adjusted EBITDA rose 4% year on year to $343 million, excluding divestitures, as higher prices and volume were only partially offset by higher costs and foreign exchange headwinds. In its earnings release, management raised its 2019 adjusted earnings per share guidance to $5.62-$5.82 from $5.55-$5.75. We've updated our valuation model to incorporate our outlook for higher near-term profit growth. Combined with time value of money effects since our las...FMC is an agricultural sciences company. The company provides solutions to growers around the world with a product portfolio fueled by a discovery and development pipeline in crop protection, plant health, and personnel pest and turf management. This combination of technologies includes insect control products based on Rynaxypyr? and Cyazypyr? active ingredients; Authority?, Boral?, Centium?, Command? and Gamit? branded herbicides; Talstar? and Hero? insecticides; and flutriafol-based fungicides. The company's products are used in agriculture to improve crop yield and quality by controlling a range of insects, weeds and disease, as well as in non-agricultural markets for pest control.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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