FMC (FMC) Company Report

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.

4 hours ago

Presentation

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.

4 hours ago

8-K

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).

4 hours ago

Press Release

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

8-K

FMC outlines 2026–2028 transformation and growth roadmap

FMC

Guidance Update

FMC will take an aggressive approach to its balance sheet in 2026, targeting significant value from $2 billion of working capital, proceeds from the India business sale and portfolio/licensing options to accelerate debt reduction.
Management expects 2026 to be a deep transformation year with headwinds from deflationary pricing and tariffs, setting the stage for an EBITDA jump in 2027 as cost cuts and streamlined operations take effect.
By 2028, FMC forecasts its four new molecules to reach approximately $1 billion in annual revenue, shifting the portfolio toward faster-growing, IP-protected products.
The company aims to keep dollar earnings of its growth portfolio flat from 2025 through 2028 by leveraging premium formulations and agronomic support to offset generic price erosion on key products like Rynaxypyr.

Dec 3, 2025, 6:30 PM

Transcript

FMC outlines transformational strategy at Goldman Sachs Industrials and Materials Conference 2025

FMC

In 2026, FMC will undergo a deep transformation with a focus on aggressive balance-sheet actions, extracting value from $2 billion of working capital and exploring portfolio monetization to reduce leverage.
The $2.5 billion core crop-protection portfolio has seen share losses against generics, prompting a complete supply-chain and cost reengineering to restore competitiveness.
FMC expects its four new growth molecules to reach $2 billion–$2.5 billion in combined revenue by 2028, with three products commercial by 2027 and the fourth (Rimisoxafen) launching thereafter.
The Rynaxypyr active ingredient faces 10–30% price declines but FMC plans to offset this through premium formulations, agronomic services, and COGS reductions.
A leaner balance sheet and executed cost initiatives are projected to deliver a notable EBITDA uplift in 2027.

Dec 3, 2025, 6:30 PM

Transcript

FMC outlines transformation plan and 2026–2028 outlook at Goldman Sachs conference

FMC

Guidance Update

Aggressive balance sheet review: FMC plans to extract value from $2 billion of working capital, potential sale of India assets, dividend adjustments, portfolio licensing, and strategic partnerships to reduce leverage.
Core Crop Protection headwinds: The $2.5 billion core crop products business has experienced share losses and margin pressure from generic competition and deflationary pricing, prompting supply chain and manufacturing cost overhauls.
2026–2028 transformation outlook: 2026 will be a deep restructuring year with headwinds (pricing, tariffs, India), followed by an expected EBITDA rebound in 2027; by 2028, four new growth molecules are projected to generate close to $1 billion annually.
Product strategy: Rynaxypyr pricing is expected to decline by up to 30%, but volume growth, cost reductions, premium formulations, and agronomic support aim to maintain flat dollar earnings; Cyazypyr remains protected through 2029 with ongoing cost optimization.

Dec 3, 2025, 6:30 PM

Transcript

FMC reports Q3 2025 results

FMC

Earnings

Guidance Update

GAAP revenue declined 49% YoY to $542 M, with ex-India revenue down 10% to $961 M as India business repositioning weighed on sales.
GAAP net loss of $569 M (vs. $66 M income), driven by India asset impairments; adjusted EBITDA rose 17% to $236 M and adjusted EPS improved 30% to $0.89.
Q4 2025 outlook: revenue of $1.12–$1.22 B, adjusted EBITDA of $265–$305 M, and adjusted EPS of $1.14–$1.36.

Oct 30, 2025, 1:00 PM

Presentation

FMC reports Q3 2025 results

FMC

Earnings

Guidance Update

Dividends

GAAP net sales of $542 million (-49% YoY); excluding India, like-for-like sales of $961 million (-4%) due to Latin America credit constraints and generic competition
Adjusted EBITDA of $236 million (25% margin, +17% YoY) and adjusted EPS of $0.89 (+30%), driven by cost control and higher volumes
Updated full-year guidance: revenue $3.92–4.02 billion, adj EBITDA $830–870 million, adj EPS $2.92–3.14 (includes India H1 only)
Q4 like-for-like sales outlook of $1.12–1.22 billion (+2% midpoint) and adj EBITDA of $265–305 million (-7% LFL)
Negative free cash flow led to an 85% dividend cut to $0.08 per share and discussions to amend credit covenants to prioritize debt reduction

Oct 30, 2025, 1:00 PM

Transcript

FMC reports Q3 2025 results

FMC

Earnings

Guidance Update

Dividends

FMC reported GAAP net sales of $542 million, down 49% year-over-year, driven by the India held-for-sale business; on an ex-India like-for-like basis, Q3 revenue was $961 million, down 4% (–6% pricing, +2% volume) with Latin America sales off 8% due to liquidity constraints and generics pressure.
Adjusted EBITDA was $236 million (25% margin), up 17% as reported and 23% on a like-for-like basis, benefiting from lower raw material costs, improved fixed-cost absorption and volume/mix gains.
Q4 guidance (ex-India) calls for sales of $1.12 billion to $1.22 billion (+2% at midpoint), adjusted EBITDA of $265 million to $305 million, and full-year revenue of $3.92 billion to $4.02 billion with adjusted EBITDA $830 million to $870 million and EPS $2.92 to $3.14.
Free cash flow outlook lowered to –$200 million to $0, and the Board cut the quarterly dividend by over 85% to $0.08 per share, directing all excess cash flow toward debt reduction.
Balance sheet ended Q3 with gross debt of $4.5 billion and net debt of $4.0 billion, with net leverage at 4.5× (covenant limit 5.25×), and negative free cash flow of $233 million in Q3.

Oct 30, 2025, 1:00 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for FMC.

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FMC (FMC)

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Pierre Brondeau

Andrew Sandifer

Brian Angeli

Jacqueline Scanlan

Ronaldo Pereira

Sara Velazquez Ponessa

Seva Rostovtsev

Thaisa Hugenneyer

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Anthony DiSilvestro

Dirk Kempthorne

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Robert Pallash

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