Slide 1: Q1 2020 Earnings Presentation
Q1 2020 Earnings Presentation May 6, 2020
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. In some cases, you can identify these statements by such words or phrases as “will likely result,” “is confident that,”
Slide 3: FMC Reported Financial Results
FMC Reported Financial Results Q1 2019 Q1 2020 '20 vs. '19 Q1 Highlights 1 • 9% organic revenue growth , Revenue $1,192 $1,250 5% excluding a 4% FX headwind • Strong YOY performance on GAAP Net Income $217 $206 -5% operational results and share count % Revenue 18.2% 16.5% GAAP EPS $1.62 $1.58 -2% Ad
Slide 4: Q1 2020 Revenue Increased 5%
Q1 2020 Revenue Increased 5% Regional Revenue Bridge Latin America North America ▪ Q1 ‘20 Revenue: $259 mil. ▪ Q1 ‘20 Revenue: $328 mil. $53 $9 $3 $1,250 (+26% YOY, +38% ex-FX) (+3% YOY) ($7) ▪ Herbicides grew ~40%, due ▪ Strong demand for $1,192 to sugarcane replanting Rynaxypyr® insect control ▪ I
Slide 5: Q1 2020 Adj. EBITDA Increased 4%
1 Q1 2020 Adj. EBITDA Increased 4% Q1 2020 Adj. EBITDA Bridge Q1 2020 Adj. EBITDA Drivers $26 $40 EBITDA $14 million above a ($7) $357 strong Q1 2019, mainly driven by $343 ($45) volume Price increases across all geographies Significant FX headwinds Stronger volume contribution & smaller cost headwi
Slide 6: 2020 Cash Flow Outlook
2020 Cash Flow Outlook ($ in millions) % Chg. Q1 '19 Q1 '20 % Chg. 2020 Outlook vs. 2019 Adjusted Cash from Operations 1 ($263) ($286) -9% $700 - $900 26% Capital Additions and Other Investing Activities ($21) ($25) 19% ($100) - ($150) -15% Legacy and Transformation 2 ($18) ($60) 233% ($175) - ($225
Slide 7: FY 2020 and Q2 Earnings Outlook
FY 2020 and Q2 Earnings Outlook FY 2020 Q2 2020 $6.05 - $6.70 $1.58 - $1.74 Adjusted EPS +5% YOY at midpoint Flat YOY at midpoint Ranges (1,2) WADSO: ~131 million WADSO: ~131 million Revenue: $4.65 - $4.85 billion Revenue: $1.17 - $1.23 billion Revenue Adj. EBITDA: $1.23 - $1.34 billion Adj. EBITDA:
Slide 8: Projected FY 2020 Adj. EBITDA and Revenue Drivers (YOY)
1 Projected FY 2020 Adj. EBITDA and Revenue Drivers (YOY) FY 2020 Adj. EBITDA Bridge FY 2020 Adj. EBITDA Drivers $160 COVID-related impacts on $100 ($26) $1,285 volume and cost more than offset $1,221 by FMC cost-savings actions ($170) Pricing is expected to recover more of the FX headwind in H2 Pri
Slide 9: Projected Q2 2020 Adj. EBITDA and Revenue Drivers (YOY)
1 Projected Q2 2020 Adj. EBITDA and Revenue Drivers (YOY) Q2 2020 Adj. EBITDA Bridge Q2 2020 Adj. EBITDA Drivers $15 FX headwinds due to $25 strengthening of US dollar $338 ($1) $332 ($45) Continued good volume growth Price increases lagging FX moves, but we expect to recover most throughout the res
Slide 10: Appendix – Other Financial Items
Appendix – Other Financial Items Interest Expense $155 – $165 million Adjusted Tax Rate (1) 12.5 – 14.5 percent Non-Controlling Interest $3 – $5 million Full-Year Weighted Avg. Diluted ~131 million Shares Outstanding (WADSO) (2) Depreciation & Amortization $150 – $160 million Free Cash Flow (1) $425
Slide 11: Appendix – Regional Growth
Appendix – Regional Growth FMC Q1 % Chg % (ex-FX) Sales NA $328 3% 3% LA $259 26% 38% EMEA $415 1% 4% Asia $248 -3% 0% Total $1,250 5% 9% 11