3 Stocks to Watch on Tuesday: FMC Corp (FMC), Microchip Technology Inc. (MCHP) and TrueCar Inc (TRUE)

FMC profit rose 63%, MCHP adj. earnings surged 50%, TRUE franchise dealer count increased

Energy stocks lead the way on a positive day for U.S. equities, gaining 2.2%, while telecom were the laggards, falling 2.4%. The S&P 500 Index gained 0.1%, the Dow Jones Industrial Average edged a fraction higher and the Nasdaq Composite surged 0.3%.

3 Stocks to Watch on Tuesday: FMC Corp (FMC), Microchip Technology Inc. (MCHP) and TrueCar Inc (TRUE)The earnings season continued on Monday, with FMC Corp (NYSE:FMC), Microchip Technology Inc. (NASDAQ:MCHP) and TrueCar Inc (NASDAQ:TRUE) all reporting after the market closed on Monday.

Here’s what went down:

FMC Corp (FMC)

FMC unveiled its third-quarter results late yesterday.

The company’s earnings rose 63% year-over-year to $95.4 million, or 70 cents per share. A year ago, the company raked in $58.7 million in profit, or 44 cents a share.

In the revenue front, FMC brought in $646.2 million for the period, topping the year-ago mark of $628.8 million by 2.8%. GAAP earnings came in at 41 cents per share, falling 31% year-over-year.

FMC’s Agricultural Solutions segment amounted to $118 million, a 31% increase compared to the year-ago mark. “FMC delivered a very strong quarter,” said president, CEO and chairman Pierre Brondeau. “In Ag Solutions, we are especially pleased with the significant volume growth in Latin America and North America.”

The company projects that it will earn between $2.59 and $2.69 per share for the full year.

FMC shares declined as much as 0.5% after hours Monday.

Microchip Technology Inc. (MCHP)

Microchip also posted its results after yesterday’s market close.

The company reported third-quarter adjusted earnings of $1.41 per share, a 50% increase compared to the year-ago profit. Analysts were calling for earnings of $1.35 per share.

Microchip’s revenue for the period came in at $1.01 billion, marking a 16% surge compared to the year-ago mark. Wall Street’s consensus estimate called for sales of $1 billion.

For the fourth quarter, the company’s outlook is for adjusted earnings of $1.35 per share based on the midpoint of its guidance, while Wall Street sees this figure as being $1.30 per share.

Revenue is slated to be $991.9 million, ahead of the consensus estimate of $984.5 million.

MCHP stock slipped 2.6% after the bell Monday.

TrueCar Inc (TRUE)

TrueCar had a rough Monday as the company posted its latest results after the market closed.

The company’s earnings for the period came in at a loss of $9.5 million, or 10 cents per share. A year ago, TrueCar posted a loss of $7.4 million, or nine cents per share.

On an adjusted basis, the company earned $1.9 million, or two cents per share, topping the year-ago mark of a $1 million loss, or a penny per share. Revenue for the company’s third quarter was $82.4 million, a 10% increase year-over-year.

TrueCar units were 253,527 by the end of the quarter, surging more than 30,000 from the 220,633 in the third quarter of 2016. Franchise dealer count increase by 84 year-over-year.

“We believe that ultimately the company that is going to attract the most marketing dollars from the auto industry must provide an amazing, comprehensive online car buying experience for consumers, whether they are buying a new or used car, while also helping to solve the significant marketing challenges that dealers and auto manufacturers face,” said Chip Perry, TrueCar’s President and CEO.

TRUE stock fell over 30% after the close

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/11/stocks-watch-tuesday-fmc-corp-fmc-microchip-technology-inc-mchp-truecar-inc-true/.

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