FMC reported a stronger recovery beating profitability expectations (adjusted EBIT: +5.7%; EBIT: +4.4%). The management flagged some positive developments (effects from FME25 and the easing of labour shortage), but this does not make a ‘summer’ for us. However, this might be the basis for the beginning of a change in investor sentiment.
Sales were +1.4% ahead of our expectations(consensus: at par), the adjusted EBIT beat consensus by +5.7% while the EBIT came in +5.1% above our estimates (cons ....
