Slide 1: Q1 2023 Earnings Presentation
Q1 2023 Earnings Presentation May 2, 2023 Q1 2023 Earnings Presentation FMC CORPORATION 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements made in this presentation are forward-looking statements that are based on our current views and assumptions regarding future events, future business conditions and the outlook
Slide 3: Q1 2023 Results
Q1 2023 Results Q1 2023 Q1 2022 2023 VS. 2022 Revenue $1,344 $1,351 0% GAAP Net Income $196 $212 (7)% Adjusted EBITDA1 $362 $355 2% % Revenue 26.9% 26.3% ~60 bps GAAP EPS $1.55 $1.64 (6)% Adjusted EPS1 $1.77 $1.88 (6)% Note: Amounts in millions of USD except for EPS Q1 2023 HIGHLIGHTS Revenue up 4
Slide 4: Regional Revenue Drivers
Q1 2023 Regional Revenue Drivers Revenue up 4% organically1 REGIONAL REVENUE BRIDGE North $497 million Latin $234 million (+28% YOY, (-12% YOY, America +30% ex-FX) America -12% ex-FX) • Price increases in the quarter • Price increases in the quarter • Record sales in Canada driven by • Drought condi
Slide 5: Adjusted EBITDA Drivers
Q1 2023 Adjusted EBITDA1 Drivers Adjusted EBITDA1 up 2% Adjusted EBITDA1 BRIDGE Note: Amounts in millions of USD KEY DRIVERS AT A GLANCE Volume, Mix, Launches Cost • Favorable product mix from sale of new products in North • Input cost headwinds continued America • SG&A costs managed tightly • Lower
Slide 6: Q2 2023 Financial Outlook
Q2 2023 Financial Outlook Q2 2022 Q2 2023 Guidance REVENUE DRIVERS • Higher prices more than offsets lower volumes • New launches and market access expansion drive REVENUE $1,452 $1,420 - $1,480 • Targeting mid-single digit price increases volume growth million million • Channel inventory management
Slide 7: FY 2023 Financial Outlook Update
FY 2023 Financial Outlook Update FY 2022 FY 2023 Guidance REVENUE DRIVERS • Price, new products and expanded market access • Mix improving with growing contribution of new REVENUE $5,802 $6,080 - $6,220 expected to more than offset lower volumes in product sales million million select areas • Modest
Slide 8: Adjusted EBITDA Growth Expected to be Weighted Toward Second Half
Adjusted EBITDA1 Growth Expected to be Weighted Toward Second Half +1% YoY H1 ADJ. EBITDA1 $714 • Targeting mid-to-high single digit • Input cost headwinds persist while $722 million price increases other costs are closely managed million • North America strength partially • FX-related headwinds H1
Slide 9: Updated Drivers of Outcomes for 2023 Adjusted EBITDA
Updated Drivers of Outcomes for Legend 2023 Adjusted EBITDA1 Increased confidence of occurrence vs. prior guide × Increased confidence of non-occurrence vs. prior guide x Mid-single digit market growth x High-single digit price increases $1,560 UPSIDE Better than anticipated mix million Signif
Slide 10: Q1 & FY 2023 Cash Flow Generation and Deployment
Q1 & FY 2023 Cash Flow Generation and Deployment CAPITAL ADDITIONS & CASH FROM ADJ. CASH FROM LEGACY & OTHER INVESTING FREE CASH FLOW1 OPERATIONS OPERATIONS1 TRANSFORMATION COSTS ACTIVITIES Q1 2023 Results ($ million) $(851) million $(851) million $51 million $13 million $(915) million • High use of
Slide 11: Appendix
Q1 2023 Earnings Presentation FMC CORPORATION 11
Slide 12: Modeling assumptions for 2023
Modeling assumptions for 2023 Appendix $205 – $215 14 – 16 $5 – $7 million percent million INTEREST EXPENSE ADJUSTED TAX RATE1 NON-CONTROLLING INTEREST ~126.1 $178 – $182 $530 – $720 $140 – $180 million million million million FULL-YEAR WEIGHTED AVG. DILUTED SHARES DEPRECIATION & CAPITAL ADDITIONS A
Slide 13: Adjusted EPS Variance
Q1 2023 Adjusted EPS1 Variance Appendix $1.88 +$0.05 -$0.15 -$0.02 +$0.01 $1.77 Q1 ‘22 Adj. EBITDA1 INT. EXPENSE TAXES OTHER Q1 ‘23 • EBITDA1 • Higher interest • Higher tax rate • Minority growth of 2% rate interest, share environment count and D&A 1. Denotes non-GAAP financial term. Refer to non-GA
Slide 14: Additional Disclaimers
Additional Disclaimers Always read and follow all label directions, restrictions and precautions for use. Products listed here may not be registered for sale or use in all states, countries or jurisdictions. No offer for sale, sale, or use of any such products is permitted prior to the issuance of t
Slide 15: Q1 2023 Earnings Presentation FMC CORPORATION
Copyright © 2023, FMC Corporation. All Rights Reserved. Q1 2023 Earnings Presentation FMC CORPORATION 15