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FMC (FMC)

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Research analysts who have asked questions during FMC earnings calls.

Vincent Andrews

Vincent Andrews

Morgan Stanley

6 questions for FMC

Also covers: ALB, APD, AVNT +20 more
AY

Aleksey Yefremov

KeyBanc Capital Markets

5 questions for FMC

Also covers: ALB, ALTM, AVNT +17 more
Frank Mitsch

Frank Mitsch

Fermium Research

5 questions for FMC

Also covers: AVNT, CE, CTVA +13 more
Joel Jackson

Joel Jackson

BMO Capital Markets

5 questions for FMC

Also covers: AGCO, ALB, ALTM +12 more
CP

Christopher Parkinson

Wolfe Research

4 questions for FMC

Also covers: ALB, APD, ASH +18 more
ER

Edlain Rodriguez

Mizuho Securities

3 questions for FMC

Also covers: ALB, AXTA, BALL +8 more
Kevin McCarthy

Kevin McCarthy

Vertical Research Partners

3 questions for FMC

Also covers: ALB, ALTM, APD +18 more
MH

Mike Harrison

Seaport Research Partners

3 questions for FMC

Also covers: ASH, AVD, AVNT +16 more
AA

Alex Amarant

UBS

2 questions for FMC

AV

Arun Viswanathan

RBC Capital Markets

2 questions for FMC

Also covers: ALB, AMBP, AMCR +27 more
BT

Benjamin Theurer

Barclays Corporate & Investment Bank

2 questions for FMC

Also covers: ADM, BG, BYND +17 more
Harris Fein

Harris Fein

Wolfe Research

2 questions for FMC

Also covers: ALB, ALTM, ENTG +1 more
JS

Josh Spector

UBS Group

2 questions for FMC

Also covers: ALB, AMBP, APD +30 more
Joshua Spector

Joshua Spector

UBS

2 questions for FMC

Also covers: ALB, AMBP, APD +37 more
LA

Laurence Alexander

Jefferies

2 questions for FMC

Also covers: AIQUY, ALB, APD +27 more
MD

Matt De Yoe

Bank of America

2 questions for FMC

MH

Matt Hutworth

Vertical Research Partners

2 questions for FMC

Patrick Cunningham

Patrick Cunningham

Citigroup

2 questions for FMC

Also covers: ALB, APD, AXTA +17 more
Richard Garchitorena

Richard Garchitorena

Wells Fargo

2 questions for FMC

Also covers: CF, CTVA, DOW +2 more
Steve Byrne

Steve Byrne

Bank of America

2 questions for FMC

Also covers: ADM, APD, AXTA +19 more
Duffy Fischer

Duffy Fischer

Goldman Sachs

1 question for FMC

Also covers: APD, AXTA, CC +13 more
JZ

Jeffrey Zekauskas

JPMorgan Chase & Co.

1 question for FMC

Also covers: ALB, AMCR, APD +31 more
LF

Laurent Favre

BNP Paribas

1 question for FMC

Also covers: AIQUY, APD, AXTA +3 more
MH

Michael Harrison

Seaport Research Partners

1 question for FMC

Also covers: APD, ASH, AVNT +17 more

Recent press releases and 8-K filings for FMC.

FMC unveils 2026 operational plan and strategic alternatives
FMC
M&A
Debt Issuance
Guidance Update
  • 2026 operational plan comprises four pillars: $1 billion in asset divestitures (including sale of the India business and licensing an advanced molecule with a significant upfront payment), reshaping the manufacturing footprint, executing the Rynaxypyr post-patent strategy, and scaling four new active ingredients.
  • Strategic alternatives (Plan B) are being run in parallel, with Bank of America and Goldman Sachs engaged and management presentations already delivered to potential acquirers exploring a sale or merger of FMC.
  • Manufacturing cost reduction aims for a 35% cut (approx. $150–170 million) by shifting active ingredient production from Europe and North America to India and China via in-house plants and toll partners to restore competitiveness.
  • Financial outlook targets break-even free cash flow in 2026 (including ~$130 million of restructuring spend), with mid-teens EBITDA growth through 2028 driven by declining restructuring charges and working capital efficiency improvements.
  • Balance sheet actions include $1 billion of debt paydown through disposals, managing an October $500 million notes maturity with existing liquidity, and planning a secured high-yield bond issuance in H1 2026.
2 days ago
FMC presents 2026 operational strategy and financing update
FMC
Guidance Update
M&A
Debt Issuance
  • FMC’s Plan A focuses on divesting $1 billion in assets, reshaping manufacturing, executing the post-patent Rynaxypyr strategy, and launching four new active ingredients.
  • The sale of the India business and upfront licensing of an advanced molecule (a meaningful portion of the $1 billion) are well advanced, with binding offers expected in the coming weeks and a licensing decision targeted for Q1/Q2 2026.
  • A concurrent Plan B process for a potential sale or merger is being run by Bank of America and Goldman Sachs, with management presentations delivered to interested parties.
  • FMC aims to cut active-ingredient manufacturing costs by 35% (≈ $150–170 million) by relocating production to India and China.
  • The company guides to break-even free cash flow in 2026 (including ~$130 million of restructuring spend), plans to refinance an October $500 million debt maturity via a secured high-yield bond in H1 2026.
2 days ago
FMC outlines strategic Plan A and Plan B with financial roadmap
FMC
M&A
Debt Issuance
Guidance Update
  • Plan A focuses on $1 billion in asset divestitures, reshaping the manufacturing footprint, executing a Rynaxypyr post-patent strategy and scaling four new active ingredients; sale of India business and licensing of an advanced molecule expected by Q2 2026
  • Plan B is being run in parallel under Bank of America and Goldman Sachs to explore a sale, merger or other strategic alternatives for the entire company
  • Manufacturing of core active ingredients will shift to India and China to achieve ~35% cost savings, enabling competitive pricing across key markets, notably Latin America and Asia
  • 2026 free cash flow is expected to be roughly break-even, including $130 million of restructuring spend; a $500 million bond matures in October, and FMC is evaluating a secured high-yield bond issuance while maintaining revolver liquidity
2 days ago
FMC explores strategic sale and reports Q4 2025 results
FMC
Earnings
Guidance Update
M&A
  • Board-authorized strategic review to explore options including a potential sale; base plan targets $1 billion of debt reduction via the India commercial business sale and licensing agreements; process at preliminary stage with financial and legal advisors retained.
  • Q4 2025 results: $1.08 billion in sales (–11% YoY; –5% ex-India), $280 million adjusted EBITDA (–17% YoY; –8% ex-India), $1.20 adjusted EPS (–33% YoY); free cash flow $623 million in the quarter; FY 2025 free cash flow –$165 million; net debt $3.5 billion, leverage 4.1× EBITDA.
  • 2026 guidance: full-year sales $3.6–3.8 billion (–5% vs 2025) and adjusted EBITDA $670–730 million; Q1 sales $725–775 million, adjusted EBITDA $45–50 million; free cash flow expected to be roughly break-even (–$65 million to +$65 million) including $130 million of restructuring spend, targeting ~0.5× net leverage reduction.
  • 2026 operational priorities: strengthen the balance sheet; improve legacy portfolio competitiveness by cutting non-diamide manufacturing costs 35% by 2027; manage post-patent Rynaxypyr strategy (2025 sales ~$800 million); and accelerate new active ingredients—sales up 54% to ~$200 million in 2025, with targets of $300–400 million in 2026 and $2 billion by 2035.
Feb 5, 2026, 2:00 PM
FMC announces Q4 2025 results and strategic review
FMC
Earnings
Guidance Update
M&A
  • Board has authorized a preliminary strategic review, including a potential sale of the entire company and separate processes to divest the India commercial business and pursue licensing deals, to maximize shareholder value.
  • Q4 2025 sales were $1.08 billion, down 11% Y/Y (-5% ex-India); adjusted EBITDA was $280 million, down 17% Y/Y (-8% ex-India); adjusted EPS was $1.20, down 33% Y/Y.
  • 2026 guidance: full-year sales of $3.6–$3.8 billion (-5% at midpoint), adjusted EBITDA of $670–$730 million; Q1 sales of $725–$775 million and Q1 adjusted EBITDA of $45–$50 million.
  • Year-end 2025 net debt was $3.5 billion (4.1× trailing EBITDA); Q4 free cash flow was $623 million, full-year 2025 free cash flow was –$165 million. 2026 free cash flow is expected to be –$65 million to +$65 million (break-even at midpoint) supporting a $1 billion debt-reduction plan.
Feb 5, 2026, 2:00 PM
FMC announces Q4 2025 results and strategic review
FMC
Earnings
Guidance Update
M&A
  • FMC reported Q4 sales of $1.08 billion (−11% y/y; −5% ex-India), adjusted EBITDA of $280 million (−17% y/y; −8% ex-India), and adj. EPS of $1.20 (−33% y/y). Q4 free cash flow was $623 million, ending the period with net debt of $3.5 billion (4.1× TTM EBITDA).
  • The board has authorized a preliminary review of strategic options, including a potential sale of the company, while continuing the sale of the India commercial business. FMC aims to pay down >$1 billion of debt via asset sales and licensing agreements in 2026 ; it guides 2026 sales of $3.6–3.8 billion and adj. EBITDA of $670–730 million.
  • Operational priorities for 2026 include strengthening the balance sheet, improving core portfolio competitiveness (lowering manufacturing costs by ≥35% by 2027), executing a post-patent Rynaxypyr strategy (2025 sales ~$800 million, branded earnings flat in 2026), and growing four new active ingredients (2025 sales ~$200 million, +54% y/y; expected $300–400 million in 2026; >$2 billion by 2035).
  • For 2026, FMC expects free cash flow of –$65 million to +$65 million (break-even at midpoint, including $130 million in restructuring spend) and projects net leverage to decline by ~0.5× by year-end.
Feb 5, 2026, 2:00 PM
FMC reports Q4 2025 results
FMC
Earnings
Guidance Update
  • Q4 2025 revenue ex-India was $1,086 million, down on lower volumes, pricing and FX headwinds.
  • Adjusted EBITDA declined 17% YoY to $280 million, driven by volume and price pressures partly offset by cost savings and favorable FX.
  • FY 2026 guidance: $3.60–3.80 billion revenue (–5% YoY), $670–730 million adjusted EBITDA (–17%), $1.63–1.89 adjusted EPS (–41%).
  • 2026 strategic priorities include strengthening the balance sheet with $1 billion debt paydown via asset sales (including India), licensing deals and core portfolio competitiveness improvements.
Feb 5, 2026, 2:00 PM
FMC announces Q4 2025 results and explores strategic options
FMC
Earnings
Guidance Update
M&A
  • The Board has authorized exploration of strategic options, including a potential sale, to unlock shareholder value and position its core portfolios for long-term success.
  • Q4 2025 revenue was $1.08 billion, down 12% YoY; Adjusted EBITDA was $280 million, down 17%, and Adjusted EPS was $1.20, a 33% decline.
  • Full-year 2025 revenue totaled $3.47 billion, down 18%, with Adjusted EBITDA of $843 million (-7%) and Adjusted EPS of $2.96 (-15%).
  • 2026 outlook includes revenue guidance of $3.60–$3.80 billion (-5%), Adjusted EBITDA of $670–$730 million, and Adjusted EPS of $1.63–$1.89.
Feb 4, 2026, 10:05 PM
FMC explores strategic options as it sets 2026 priorities
FMC
M&A
Guidance Update
  • The FMC Board has authorized the exploration of strategic options, including a potential sale of the company, to unlock shareholder value and position its assets and pipeline for long-term success.
  • FMC’s 2026 operational priorities include strengthening the balance sheet by paying down $1 billion of debt (including the sale of its India commercial business), improving core portfolio competitiveness, managing the post-patent Rynaxypyr® transition and accelerating commercialization of new active ingredients (Isoflex®, fluindapyr, Dodhylex® and rimisoxafen).
  • Full-year 2026 guidance calls for $3.60 billion to $3.80 billion of revenue (down 5% at midpoint), $670 million to $730 million of Adjusted EBITDA (down 17% at midpoint) and $1.63 to $1.89 of Adjusted EPS (down 41% at midpoint).
  • Q4 2025 revenue was $1.08 billion (-12% YoY) , and full-year 2025 revenue was $3.47 billion (-18% YoY).
Feb 4, 2026, 10:00 PM
FMC Corp unveils Project Foundation cost-savings initiative
FMC
New Projects/Investments
Accounting Changes
  • FMC’s Board approved Project Foundation, including a Manufacturing Restructuring Program to optimize its cost structure and exit high-cost plants, targeting $175 million of annual run-rate savings by end of 2027.
  • The company expects $560–635 million of pre-tax restructuring charges, of which $420–440 million are non-cash asset write-offs and $140–195 million are cash expenditures for severance, consulting and decommissioning.
  • Following a steep stock-price decline, FMC will test goodwill and other intangible assets for impairment and anticipates a significant non-cash impairment charge that will not affect cash flows.
Dec 12, 2025, 9:14 PM