Short answer
Fmc Corp (FMC) filed its fiscal 2017 10-K annual report with the SEC on Feb 28, 2018. It reported revenue of $2.9B (+13.4% year over year) and net income of $536M.
- Top risk flagged: EU REACH and pesticide re-registration requirements: potential product-use reductions, cancellations, and significant data costs
FY2017 key financial metrics · XBRL
- Revenue
- $2.9B
- +13.4% YoY
- Net income
- $536M
- +156.2% YoY
- Operating margin
- 9.0%
- −7.6 pp YoY
- Gross margin
- 38.3%
- −9.0 pp YoY
- EPS (diluted)
- $3.99
- +155.8% YoY
- ROE
- 20.0%
- +9.3 pp YoY
- Operating cash flow
- $315M
- −41.5% YoY
Source: XBRL data from the Fmc Corp (FMC) FY2017 10-K on SEC EDGAR. USD.
Fmc Corp FY2017 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Diversified chemical company focused on crop protection and specialty lithium products across agricultural, consumer and industrial markets
- DuPont Crop Protection acquisition transformed FMC into a tier-one agricultural chemicals provider and fifth-largest globally
- FMC Health and Nutrition divested to DuPont for $1.2 billion, becoming a discontinued operation
- Lithium hydroxide plant in China began commercial sales, adding 9,000 metric tons annual capacity
- R&D expense rose to $141.5 million, including $138.4 million for Agricultural Solutions and 15 acquired discovery leads
Management Discussion & Analysis
- Revenue $2,878.6M, up $339.7M or 13% YoY, led by Agricultural Solutions and Lithium
- Gross margin 39% vs 37%; adjusted earnings $368.3M, up 43% YoY
- Best segment: Agricultural Solutions revenue $2,531.2M, operating profit $485.6M, up 21%
- Lithium revenue $347.4M, up 32%; operating profit $126.7M, up approximately $57M
- Operating cash flow $314.5M; capex outlook approximately $250M, dividends $88.8M, no share repurchases
- 2018 guidance: revenue $3.95B to $4.15B Agricultural Solutions and $420M to $460M Lithium; risks include integration, tax transition payment $202.7M and leverage covenant reduction
Risk Factors
- EU REACH and pesticide re-registration requirements: potential product-use reductions, cancellations, and significant data costs
- China manufacturing and supplier exposure: unpredictable environmental enforcement could trigger broad-area shutdowns
- Critical intermediates and finished products sourced principally from China: supply interruptions could limit production and sales
- Generic pesticide suppliers and seed-embedded crop technologies: patent expirations and consolidation threaten FMC market position
- DuPont integration, Lithium separation, and SAP S4 HANA migration: simultaneous projects strain finance and information technology functions
Generated from the filing text; verify against the original. How to read a 10-K
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