FMC Corporation Provides Update to Third-Quarter Expectations and Announces Comprehensive Commercial Actions to Expedite Return to Growth

(NYSE:FMC) FMC Corporation updated its expectations for the third quarter of 2026, now projecting revenue between $65 million and $125 million. Adjusted EBITDA for the quarter is expected to be between negative $565 million and negative $510 million. These revised expectations include an estimated $625 million to $675 million in charges related to commercial actions. The commercial actions involve lowering the price of select products held by channel customers in the United States, Brazil, Argentina, and Canada, and modifying the selling and pricing model in the United States. The company is shifting from a high gross-price and high-rebate structure to significantly reduce the gap between gross and net pricing. These actions are intended to accelerate movement of FMC products through the channel and support future replenishment demand. Pierre Brondeau, chairman, chief executive officer and president, stated that third-quarter demand was weaker than expected due to challenging market conditions and elevated levels of higher-priced FMC products in channel inventory. He noted that the company had addressed this issue incrementally over several quarters but determined that more comprehensive actions were necessary under current market conditions. The company made progress reducing channel inventory volumes in 2025, but certain higher-priced products increased the overall value of inventory held by some customers. Rapid market price declines and increased generic competition have widened the gap between the value of affected inventory and current market prices. FMC expects ongoing manufacturing changes to further support competitive pricing. The company believes these commercial actions will significantly improve overall competitiveness and are an important step in completing its transformation and positioning FMC for future potential in 2027, 2028, and beyond. The information in this release is preliminary and intended to update third-quarter expectations. FMC will provide more information regarding its quarter results and 2026 financial outlook when it reports third-quarter earnings on October 29, 2026, and will share preliminary expectations for 2027 and 2028 on its earnings call on October 30, 2026. The company expects to be in compliance with covenants at September 30, 2026, and intends to engage in discussions with its bank group on potential further modifications to its covenants over the next year. As a result of the commercial adjustments, the company has identified a triggering event to evaluate intangible assets for impairment as of September 30, 2026, but the assessment is not completed and the company cannot determine whether an impairment exists or estimate the amount of any potential non-cash impairment charge. The company has not finalized its financial results for the quarter and cannot issue or reasonably estimate complete quarterly results in accordance with GAAP as of the date of this release.

FMC Corporation Announces $114 Million Sale-Leaseback of Newark, Delaware Property

(NYSE: FMC) FMC Corporation announced that it has entered into a framework agreement to sell its property in Newark, Delaware for gross proceeds of approximately $114 million USD, subject to a due diligence period and other closing conditions and adjustments. Upon completion of the sale, FMC intends to lease back the facilities it actively operates under a separate lease agreement. FMC will retain ownership of its adjacent Maryland properties. The transaction is expected to close in the fourth quarter of 2026, subject to a due diligence period and various other closing conditions and adjustments. The company states that the transaction is structured to minimize any disruption to FMC's research operations, and that the Stine Research Center, its global R&D headquarters, will continue to operate at the site following the transaction. FMC's R&D capabilities, core research activities and scientific infrastructure remain fully in place. The agreement also contemplates that the form of the leaseback agreement and various other operational and economic terms are still to be agreed between the parties and are therefore at a preliminary stage.

FMC Corporation and Corteva Expand Access to Breakthrough Rimisoxafen Herbicide Technology

(NYSE:FMC) and (NYSE:CTVA) announced a co-exclusive strategic supply and license agreement to expand access to FMC's rimisoxafen technology across North and South America corn and soybean markets. Corteva will make an initial prepurchase payment of $200 million USD for product to be supplied by FMC. The agreement extends through the next decade, with both companies developing and commercializing their own exclusive premix formulations for the corn and soybean markets across North and South America. FMC retains all rights of ownership to rimisoxafen and will supply Corteva with the active ingredient, while continuing to develop additional rimisoxafen-based products for other crops and geographies globally. First commercial sales are anticipated by the end of the decade, pending applicable regulatory approvals. The Herbicide Resistance Action Committee recently classified rimisoxafen as the industry's first dual mode of action herbicide. Additional terms of the agreement were not disclosed.

FMC Corporation Announces Agreement to Divest India Commercial Business to Crystal Crop Protection Limited

FMC Corporation (NYSE: FMC) announced it has signed a definitive agreement to sell FMC India Private Limited to Crystal Crop Protection Limited for $252 million USD, subject to customary adjustments. FMC will continue to receive all cash generated from the ongoing operation of the India business until closing, primarily through monetization of working capital. The transaction is expected to close by year-end 2026, pending regulatory approval and other customary closing conditions. FMC intends to allocate all proceeds from the sale to debt reduction. Crystal Crop Protection Limited will acquire FMC India's commercial operations in the crop protection field, including a license to FMC's brands sold in India.

FMC Corporation Declares Quarterly Dividend

FMC Corporation (NYSE: FMC) announced that its board of directors declared a regular quarterly dividend of 8 cents per share. The dividend is payable on July 16, 2026, to shareholders of record as of the close of business on June 30, 2026. FMC describes itself as a global agricultural sciences company focused on crop protection solutions and innovation. The announcement includes a Safe Harbor statement regarding forward-looking statements and associated risks. This matters to investors as it confirms the company's ongoing dividend payments and provides information about future expectations and risk disclosures.

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