Company results: Higher lithium prices boost FMC revenues in Q1
Published: Friday, 09 June 2017
Lithium earnings up 45%; Higher prices for hydroxide: Revenues increase 9%
FMC Corp saw earnings from its lithium segment jump to $22m
in Q1 2017, from $15m from Q4 2016.
Meanwhile revenue from the segment rose 9% to $66m.
Higher prices and improved product mix in Q1 offset the
impact of lower volume and higher costs on earnings, according
to the US-based producer.
In the same announcement, FMC increased its lithium outlook
for the full year by $10m at the mid-point versus the prior
The segment revenue for full year 2017 is forecasted to be
in a range of $325-365m and the full-year segment earnings are
anticipated to be between $100m and $120 m.
This revised forecast for full year segment earnings
represents an increase of over 55% at the mid-point compared to
the prior year while second quarter earnings are expected to
range between $19m and $23m, an increase of 27% at the
mid-point compared to the prior year quarter.
This article from the June issue of Industrial Minerals
magazine was first
published online on 3