FMC sees FY23 adjusted EPS $7.20-$8.00, consensus $8.37

Sees FY23 revenue $6.08B-$6.22B, consensus $6.03B. FY23 revenue view represents an increase of 6% at the midpoint versus 2022, driven by strong pricing in all regions and growth in volume driven by new launches and market access. Full-year adjusted EBITDA range is expected to be $1.48B-$1.56B, representing 8% year-over-year growth at the midpoint. Interest expense is now expected to be $200M-$210M, an increase of approximately $50M at the midpoint, reflecting the rapidly rising interest rate environment. Adjusted earnings per share excludes any impact from potential 2023 share repurchases and assumes weighted average diluted shares outstanding of approximately 126.5M. Full-year free cash flow is expected to be $530M-$720M. "We anticipate a positive market backdrop for 2023 that will support our pricing actions as well as continued healthy demand for FMC‘s synthetic and biological product portfolios. We will continue to invest in our R&D pipeline as well as in SG&A resources to further expand our market access in key geographies. In addition, we will continue to closely manage our supply chain in 2023 to take advantage of any cost improvement opportunities while ensuring product availability for our customers," said Mark Douglas, FMC president and CEO.