FMC Shares Rise On Better-than-expected Adjusted Earnings

FMC Corp. late Wednesday reported it swung to a third-quarter loss of $2.4 million, or 2 cents a share, from a profit of $56 million, or 42 cents a share, a year earlier. On an adjusted basis, the diversified chemical company would have earned 42 cents a share, down from 72 cents a share a year ago. "Adjusted EPS was lower primarily due to the impact of foreign currency headwinds, partially offset by lower operating costs and a lower tax rate," said the company in a statement. Analysts surveyed by FactSet had forecast 38 cents a share. Revenue rose 1% to $831 million, falling short of the $836 million projected. Shares of FMC rose 1% in after-hours trading.