Company Overview - FMC Corporation (NYSE: FMC) is a leader in insecticides, herbicides, plant nutrition, and fungicides with global operations [1] Current Stock Performance - The stock is currently trading at some of the worst levels in the past decade, indicating significant challenges for the company [1] Analyst Background - The analyst has over 10 years of experience researching companies across various sectors, including commodities and technology, which provides a broad perspective on investment opportunities [1] Research Focus - The analyst has transitioned from writing a blog to a value investing-focused YouTube channel, researching hundreds of different companies, with a particular interest in metals and mining stocks, as well as comfort in other industries like consumer discretionary/staples, REITs, and utilities [1]

Core Viewpoint - Investors are evaluating FMC and Corteva, Inc. to determine which stock represents a better undervalued investment opportunity in the Agriculture - Operations sector [1] Valuation Metrics - FMC has a forward P/E ratio of 11.66, while Corteva has a forward P/E of 24.03, indicating FMC is more attractively valued [5] - FMC's PEG ratio is 1.26, compared to Corteva's PEG ratio of 1.74, suggesting FMC's expected earnings growth is more favorable [5] - FMC's P/B ratio is 1.1, while Corteva's P/B ratio is 2.01, further highlighting FMC's superior valuation metrics [6] Analyst Outlook - FMC holds a Zacks Rank of 2 (Buy), indicating stronger earnings estimate revision activity, while Corteva has a Zacks Rank of 3 (Hold) [3] - The stronger estimate revision activity for FMC suggests a more positive analyst outlook compared to Corteva [7] Value Grades - FMC has a Value grade of B, while Corteva has a Value grade of D, reflecting FMC's more attractive valuation metrics [6]

Core Insights - FMC reported $1.05 billion in revenue for the quarter ended June 2025, marking a year-over-year increase of 1.2% and an EPS of $0.69 compared to $0.63 a year ago, with revenue exceeding Zacks Consensus Estimate by +8.82% [1] - The EPS surprise was +16.95% over the consensus estimate of $0.59 [1] Financial Performance - FMC's shares have returned -7% over the past month, while the Zacks S&P 500 composite increased by +2.7% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [3] Geographic Revenue Breakdown - Latin America: $310 million, exceeding the estimated $296.12 million, with a year-over-year change of +0.9% [4] - Europe, Middle East and Africa (EMEA): $260 million, surpassing the average estimate of $223.58 million, reflecting a +29.2% year-over-year increase [4] - Asia: $159 million, slightly below the estimated $163.72 million, showing a year-over-year decline of -16.8% [4] - North America: $321 million, above the estimated $294.07 million, but representing a -5.3% year-over-year change [4] Revenue by Product - Insecticides: $525.3 million, exceeding the estimated $487.74 million, but down -7.7% year-over-year [4] - Fungicides: $80.4 million, surpassing the average estimate of $67.79 million, with a +7.9% year-over-year increase [4] - Herbicides: $376 million, exceeding the estimated $323.09 million, reflecting a +11.7% year-over-year change [4]

Core Insights - FMC Corporation has received registration for Fundatis® herbicide powered by Isoflex® active in Great Britain for use in winter wheat and winter barley, marking a significant advancement in herbicide technology [1][2][3] Product Details - Fundatis® herbicide combines Isoflex® active with beflubutamid, providing a new tool for resistance management and contributing to integrated weed management programs [3] - The herbicide effectively controls key annual grass weeds such as Blackgrass and Italian Ryegrass, as well as broadleaf weeds like Groundsel and Speedwell [3] Regulatory Approvals - The registration in Great Britain is part of a broader regulatory approval process, with Isoflex® active already registered in multiple countries including Argentina, Australia, and Brazil [4] - FMC has submitted a regulatory application for Isoflex® active in the European Union, indicating ongoing expansion efforts [4] Company Commitment - FMC emphasizes its commitment to innovative crop protection technologies, aiming to empower growers to enhance their farming practices and overcome resistance challenges [3][6] - The company is dedicated to discovering new active ingredients and product formulations that are environmentally friendly [6]

Part I - FINANCIAL INFORMATION Presents FMC Corporation's unaudited consolidated financial information for Q2 and H1 2025, detailing statements and notes [Item 1. Financial Statements](index=3&type=section&id=Item%201%2E%20Financial%20Statements) Presents FMC Corporation's unaudited consolidated financial statements for Q2 and H1 2025, detailing income, balance sheet, and cash flow changes [Consolidated Statements of Income (Loss)](index=3&type=section&id=Consolidated%20Statements%20of%20Income%20%28Loss%29) Details FMC Corporation's unaudited consolidated income and loss for Q2 and H1 2025, highlighting revenue and net income changes Consolidated Statements of Income (Loss) Highlights (in Millions, Except Per Share Data) | Metric | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :--- | :--- | :--- | :--- | :--- | | **Revenue** | $1,050.5 | $1,038.4 | $1,841.9 | $1,956.4 | | **Gross Margin** | $406.3 | $398.1 | $723.0 | $737.8 | | **Income (loss) from continuing operations** | $44.4 | $298.0 | $35.8 | $307.4 | | **Net income (loss) attributable to FMC stockholders** | $66.7 | $295.1 | $51.2 | $292.4 | | **Diluted EPS from continuing operations** | $0.34 | $2.37 | $0.28 | $2.45 | | **Diluted EPS (Net)** | $0.53 | $2.35 | $0.41 | $2.33 | - Revenue for Q2 2025 slightly increased to **$1,050.5 million** from **$1,038.4 million** in Q2 2024[9](index=9&type=chunk) - Net income attributable to FMC stockholders saw a sharp decline to **$66.7 million** from **$295.1 million** in the prior-year quarter, largely due to a significant tax benefit recorded in Q2 2024[9](index=9&type=chunk) [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Presents FMC Corporation's unaudited consolidated balance sheets as of June 30, 2025, and December 31, 2024, showing asset and liability changes Consolidated Balance Sheet Highlights (in Millions) | Account | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | **Total current assets** | $5,467.3 | $4,958.3 | | Cash and cash equivalents | $438.2 | $357.3 | | Inventories | $1,395.7 | $1,201.6 | | **Total assets** | $12,297.1 | $11,653.3 | | **Total current liabilities** | $3,573.1 | $3,019.2 | | Short-term debt and current portion of long-term debt | $893.3 | $337.4 | | Long-term debt, less current portion | $3,270.0 | $3,027.9 | | **Total FMC stockholders' equity** | $4,397.0 | $4,487.5 | - Total assets increased to **$12.3 billion** as of June 30, 2025, from **$11.7 billion** at year-end 2024, driven by increases in trade receivables and inventories[15](index=15&type=chunk) - Total debt (short-term and long-term) rose to approximately **$4.16 billion** from **$3.37 billion** over the same period[15](index=15&type=chunk) [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Outlines FMC Corporation's unaudited consolidated cash flow activities for H1 2025 and 2024, detailing operating, investing, and financing changes Consolidated Statements of Cash Flows Highlights (in Millions) | Cash Flow Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Net cash provided (required) by operating activities** | $(508.8) | $130.4 | | *Continuing Operations* | $(479.1) | $149.3 | | *Discontinued Operations* | $(29.7) | $(18.9) | | **Net cash provided (required) by investing activities** | $(51.4) | $(39.6) | | **Net cash provided (required) by financing activities** | $628.7 | $84.7 | | **Increase (decrease) in cash and cash equivalents** | $80.9 | $169.1 | - For the first six months of 2025, cash used by operating activities was **$479.1 million**, a significant shift from the **$149.3 million** provided by operating activities in the same period of 2024[17](index=17&type=chunk) - This was primarily due to changes in operating assets and liabilities, including a **$453.8 million** decrease related to advance payments from customers[17](index=17&type=chunk) - Financing activities provided **$628.7 million** in cash, mainly from a **$750.0 million** issuance of long-term debt and a **$548.7 million** increase in short-term debt, partially offset by a **$500.1 million** repayment of long-term debt[21](index=21&type=chunk) [Notes to Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Provides detailed explanatory notes to the unaudited consolidated financial statements, covering significant events and disclosures - In July 2025, the Board approved a plan to divest the Company's commercial business in India[38](index=38&type=chunk) - The sale is expected to conclude within twelve months, and the related assets will be classified as held for sale starting in Q3 2025[38](index=38&type=chunk) Revenue by Region (in Millions) | Region | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :--- | :--- | :--- | :--- | :--- | | North America | $320.9 | $338.8 | $507.3 | $597.9 | | Latin America | $310.4 | $307.2 | $517.2 | $495.2 | | EMEA | $260.4 | $201.2 | $533.2 | $508.0 | | Asia | $158.8 | $191.2 | $284.2 | $355.3 | - Restructuring charges under "Project Focus" for the six months ended June 30, 2025, totaled **$26.7 million**, including severance, professional services, and accelerated depreciation[83](index=83&type=chunk)[85](index=85&type=chunk) - On May 27, 2025, the company issued **$750 million** of **8.45% Subordinated Notes** due 2055 and used the proceeds to redeem **$500 million** of senior notes due 2026 and for general corporate purposes[102](index=102&type=chunk) - The effective tax rate for the six months ended June 30, 2025 was **43.8%**, compared to **-12,196.0%** for the same period in 2024[150](index=150&type=chunk)[261](index=261&type=chunk) - The significant variance is primarily due to a net tax benefit of approximately **$300 million** recorded in Q2 2024 related to the establishment of a global technology and innovation center in Switzerland[150](index=150&type=chunk)[261](index=261&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=34&type=section&id=Item%202%2E%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q2 and H1 2025 financial results, covering revenue, regional performance, India divestiture, updated outlook, and liquidity [Overview and 2025 Outlook](index=35&type=section&id=Overview%20and%202025%20Outlook) Provides an overview of Q2 2025 performance and updated full-year 2025 financial guidance, including the India business divestiture impact - Q2 2025 revenue increased by **1%** YoY to **$1,050.5 million**, driven by volume growth as customers reached target channel inventory levels[216](index=216&type=chunk) - This was partially offset by price declines, over half of which were from adjustments on "cost-plus" diamide contracts[216](index=216&type=chunk) - Net income attributable to FMC stockholders fell to **$66.7 million** in Q2 2025 from **$295.1 million** in Q2 2024, primarily because the prior-year period included a net tax benefit of approximately **$300 million** related to a new global technology center in Switzerland[216](index=216&type=chunk) - The company plans to divest its commercial business in India and will continue to participate in the market through a supply agreement[215](index=215&type=chunk) - The sale is expected to close within twelve months[215](index=215&type=chunk) Updated 2025 Full-Year Guidance | Metric | Guidance Range | Change vs. 2024 (Midpoint) | | :--- | :--- | :--- | | Revenue (ex-India) | $4.08B - $4.28B | -2% | | Adjusted EBITDA | $870M - $950M | +1% | | Adjusted EPS | $3.26 - $3.70 | Flat | [Results of Operations](index=37&type=section&id=Results%20of%20Operations) Analyzes the company's operational performance for Q2 2025, detailing revenue by region, gross margin, operating expenses, and Adjusted EBITDA - Q2 2025 revenue performance by region: EMEA grew **29%**, Latin America grew **1%**, North America decreased **5%**, and Asia decreased **17%** (driven by destocking in India)[236](index=236&type=chunk)[237](index=237&type=chunk) - Q2 2025 gross margin increased by **$8.2 million** to **$406.3 million**, with the margin percentage rising to **39%** from **38%** YoY, driven by cost improvements that offset lower pricing and unfavorable currency effects[241](index=241&type=chunk) - Q2 2025 SG&A expenses increased **7%** to **$176.8 million** due to investments in new products and an expanded sales force in Brazil[243](index=243&type=chunk) - R&D expenses decreased **13%** to **$66.4 million** due to project timing and cost controls[244](index=244&type=chunk) - Q2 2025 Adjusted EBITDA increased **2%** to **$206.5 million**, as favorable costs (contributing **+34%**) were largely offset by price declines (**-18%**) and foreign exchange headwinds (**-11%**)[272](index=272&type=chunk) [Liquidity and Capital Resources](index=47&type=section&id=Liquidity%20and%20Capital%20Resources) Discusses the company's financial liquidity, capital structure, debt levels, operating cash flow, and projected capital expenditures for 2025 - Total debt increased to **$4.16 billion** at June 30, 2025, from **$3.37 billion** at year-end 2024, following the issuance of **$750 million** in Subordinated Notes and an increase in commercial paper borrowings[277](index=277&type=chunk)[278](index=278&type=chunk) - Cash used by operating activities for the first six months of 2025 was **$479.1 million**, a reversal from **$149.3 million** cash provided in the prior year[283](index=283&type=chunk)[289](index=289&type=chunk) - This was driven by changes in working capital, particularly advance payments from customers, inventories, and trade receivables[283](index=283&type=chunk)[289](index=289&type=chunk) - The company projects 2025 free cash flow to be between **$200 million** and **$400 million**, a decrease from 2024 due to the expected normalization of working capital[305](index=305&type=chunk) - Projected 2025 capital expenditures are expected to be between **$105 million** and **$115 million**, mainly for investments in new products[311](index=311&type=chunk) [Derivative Financial Instruments and Market Risks](index=53&type=section&id=Derivative%20Financial%20Instruments%20and%20Market%20Risks) Details the company's exposure to market risks, including interest rate and foreign currency fluctuations, and its use of derivative financial instruments - The company's debt portfolio at June 30, 2025, consists of **81% fixed-rate debt** and **19% variable-rate debt**[327](index=327&type=chunk) - A one percentage point change in interest rates would impact gross interest expense by approximately **$4.0 million** for the six months ended June 30, 2025, based on the variable-rate debt portfolio[328](index=328&type=chunk) - Primary foreign currency exposures are against the Euro, Chinese yuan, Brazilian real, Mexican peso, and Argentine peso[321](index=321&type=chunk)[323](index=323&type=chunk) - The net financial instrument position shifted from a **$34.1 million** net asset at year-end 2024 to a **$49.3 million** net liability at June 30, 2025[321](index=321&type=chunk)[323](index=323&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=54&type=section&id=Item%203%2E%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Refers to the detailed discussion of market risks within Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations" - The company directs readers to the market risk disclosures within the MD&A section for information on its exposure to commodity prices, interest rates, and foreign currency exchange rates[330](index=330&type=chunk) [Item 4. Controls and Procedures](index=54&type=section&id=Item%204%2E%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes in internal control - The CEO and CFO concluded that as of June 30, 2025, the company's disclosure controls and procedures are effective in providing reasonable assurance of timely and accurate reporting[331](index=331&type=chunk) - No changes in internal control over financial reporting occurred during the quarter ended June 30, 2025, that materially affected or are reasonably likely to materially affect internal controls[332](index=332&type=chunk) Part II - OTHER INFORMATION Presents other required information, including legal proceedings, risk factors, equity security sales, and exhibits [Item 1. Legal Proceedings](index=55&type=section&id=Item%201%2E%20Legal%20Proceedings) Refers to Notes 11 and 18 of the consolidated financial statements for updates on legal proceedings previously disclosed - For information on legal proceedings, the report refers to the disclosures in Note 11 (Environmental Obligations) and Note 18 (Guarantees, Commitments, and Contingencies) of the financial statements[335](index=335&type=chunk) [Item 1A. Risk Factors](index=55&type=section&id=Item%201A%2E%20Risk%20Factors) States no new risk factors and directs readers to the risk factors discussed in the 2024 Annual Report on Form 10-K and other SEC filings - The company advises that readers should consider the risk factors discussed in its 2024 Annual Report on Form 10-K and other SEC filings, indicating no material changes to its risk profile during the quarter[336](index=336&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=55&type=section&id=Item%202%2E%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Reports on equity security purchases for Q2 2025, noting no repurchases under the $1 billion program due to credit agreement restrictions - Due to a credit agreement amendment in February 2025, the company will not repurchase shares under its publicly announced program until December 31, 2027, except for those related to equity compensation plans[341](index=341&type=chunk) - No shares were repurchased under the publicly announced program during the six months ended June 30, 2025[338](index=338&type=chunk)[341](index=341&type=chunk) - The remaining authorization under the program is **$825 million**[338](index=338&type=chunk)[341](index=341&type=chunk) [Item 5. Other Information](index=55&type=section&id=Item%205%2E%20Other%20Information) Discloses an executive officer terminated a 2024 Rule 10b5-1 trading plan and adopted a new plan on May 19, 2025 - On May 19, 2025, Jacqueline Scanlan, EVP and Chief Human Resources Officer, adopted a new Rule 10b5-1 trading plan for the sale of up to **8,300 shares**, after terminating a previous plan[342](index=342&type=chunk)[344](index=344&type=chunk) [Item 6. Exhibits](index=56&type=section&id=Item%206%2E%20Exhibits) Lists exhibits filed with the Form 10-Q, including indentures for new subordinated notes and CEO/CFO certifications - Exhibits filed include the Subordinated Indenture for the **8.450% Notes** due 2055 and required certifications from the CEO and CFO[347](index=347&type=chunk) [Signatures](index=57&type=section&id=Signatures) Contains the required signatures of authorized officers, certifying the accuracy and completeness of the Form 10-Q filing

Core Insights - FMC Corporation reported earnings of 53 cents per share for Q2 2025, a significant decrease from $2.35 in the same quarter last year. Adjusted earnings per share were 69 cents, surpassing the Zacks Consensus Estimate of 59 cents [1][9] - Revenues for the quarter reached $1,050.5 million, reflecting a 1.2% increase year-over-year and exceeding the Zacks Consensus Estimate of $965.4 million [1][9] Revenue Drivers - The increase in revenues was primarily driven by a 6% rise in volume, as customers reached desired inventory levels. However, prices fell by 3%, largely due to reductions in specific "cost-plus" contracts, and foreign exchange rates negatively impacted results by 1% [2] - Sales from the growth portfolio increased by a high single-digit percentage, while sales from the core portfolio remained largely unchanged [2] Regional Sales Performance - North America: Sales declined by 5% year-over-year to $321 million, with strong growth in branded products in the U.S. offset by reduced volumes in Canada [3] - Latin America: Sales increased by 1% year-over-year to $310 million, benefiting from strong growth in new active ingredients, surpassing the consensus estimate [4] - Asia: Revenues decreased by 17% year-over-year to $159 million, driven by lower pricing and reduced volume due to destocking in India, missing the consensus estimate [4] - EMEA: Sales increased by 29% year-over-year to $260 million, fueled by significant volume increases, particularly in herbicides and branded products, exceeding the consensus estimate [5] Financial Overview - At the end of the quarter, FMC had cash and cash equivalents of $438.2 million and long-term debt of $3,270 million [6] Guidance - FMC expects full-year revenues (excluding India) to range between $4.08 billion and $4.28 billion, indicating a 2% decline at the midpoint compared to 2024. Adjusted EBITDA is forecasted between $870 million and $950 million, suggesting 1% growth at the midpoint. Adjusted EPS is projected to be between $3.26 and $3.70, indicating no change year-over-year at the midpoint [7] Price Performance - FMC's shares have decreased by 29.2% over the past year, contrasting with a 1.7% increase in the industry [10]

Financial Data and Key Metrics Changes - Second quarter sales increased by 1% year-over-year, driven by a volume growth of 6% [10] - Adjusted EBITDA for the second quarter was $207 million, a 2% increase compared to the previous year [11] - Adjusted earnings per share (EPS) rose to $0.69, up $0.10 from the prior year, primarily due to EBITDA growth and lower interest expenses [12] Business Line Data and Key Metrics Changes - The growth portfolio experienced a high single-digit increase, while the core portfolio remained essentially flat [11] - The strongest growth came from the EMEA region, attributed to higher volumes of herbicides and branded sales [12] - North America sales declined by 5% due to expected destocking in Canada, although there was solid volume growth in the U.S. [13] Market Data and Key Metrics Changes - Latin America revenues increased slightly as the region concluded the 2024-2025 growing season [12] - Asia faced declines due to lower pricing and volumes, particularly from ongoing destocking in India [13] Company Strategy and Development Direction - The company aims to implement a growth strategy following the normalization of product levels in distribution channels [6] - A new direct sales route in Brazil targeting large corn and soybean growers has been established, with initial customer engagements already underway [7] - The company plans to divest its commercial business in India to regain commercial momentum through a business-to-business model [15][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in reaching 2025 targets and maintaining the 2027 outlook, with expectations for strong performance driven by the growth portfolio [32] - The company anticipates challenges in India due to intense generic competition and a complex regulatory environment, leading to the decision to change operational strategies [14][15] - Management expects to see early results from new product launches and commercial activities in Brazil starting in the third quarter [7][10] Other Important Information - The company has excluded India from revenue guidance due to uncertainties surrounding the divestment process, although reported revenue will still include India until the sale is completed [18][25] - Full-year 2025 guidance remains unchanged across all metrics, with revenue excluding India expected to decline by 2% [19] Q&A Session Summary Question: What should be expected in terms of volume and pricing growth entering 2026? - Management confirmed that 2026 and 2027 targets remain unchanged, with expectations for strong growth driven by the growth portfolio and new active ingredients [36][37] Question: Can you break down the cost savings for Q2? - Cost savings were primarily driven by lower raw material costs, improved fixed cost absorption, and restructuring actions [41][42] Question: What are the sales and EBITDA parameters for the India business in 2024? - The India business is forecasted to generate $70 million in sales for H2 2025, with a need for overall growth of 9% to meet targets [50][51] Question: How is the order book shaping up in Brazil? - Current orders for the second half in Brazil are about 35% to 40% of what is needed, indicating a positive outlook [58] Question: What is the expected impact of the new direct sales program in Brazil? - The impact of the new sales organization is expected to be visible in Q3, with growth anticipated year after year [62] Question: How is the pricing for Rynaxapyr and other products performing? - Rynaxapyr pricing remains relatively flat, with significant pricing headwinds primarily from partner contracts [86] Question: What is the outlook for the pheromones offering? - The full-scale commercial pilot for pheromones is expected to provide insights into performance, with results anticipated by the end of the year [90]

Financial Data and Key Metrics Changes - Second quarter sales increased by 1% year-over-year, driven by a volume growth of 6% [9] - Adjusted EBITDA for the second quarter was $207 million, a 2% increase compared to the prior year [10] - Adjusted earnings per share (EPS) rose to $0.69, up $0.10 from the previous year, primarily due to EBITDA growth and lower interest expenses [11] Business Line Data and Key Metrics Changes - The growth portfolio experienced a high single-digit increase, while the core portfolio remained essentially flat [10] - The second quarter saw a 5% decline in North America sales, attributed to expected destocking in Canada, although the U.S. experienced solid volume growth [12] - EMEA showed strong growth driven by higher volumes of herbicides and branded sales [11] Market Data and Key Metrics Changes - Latin America revenues increased slightly as the region concluded the 2024-2025 growing season [11] - Asia faced declines due to lower pricing and volumes, particularly from ongoing destocking in India [12] Company Strategy and Development Direction - The company is focusing on a growth strategy with lower manufacturing costs and new formulations, particularly in Brazil [6] - A divestment of the commercial business in India is planned to regain commercial momentum through a business-to-business model [14][15] - The company aims to shift its India portfolio towards differentiated technologies with less working capital exposure [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2025 targets and maintaining the 2027 outlook, with expectations for strong performance driven by the growth portfolio [32] - The company anticipates challenges in India but believes the divestment will reduce risk and volatility in future periods [15] Other Important Information - The company expects full-year 2025 adjusted EBITDA to be 1% higher at the midpoint, with revenue guidance excluding India [18] - Free cash flow for 2025 is projected to be between $200 million and $400 million, a decrease from the previous year [30] Q&A Session Summary Question: What should be expected in terms of volume and pricing moving into 2026? - Management confirmed that the 2026 and 2027 targets remain unchanged, with an expected EBITDA of $1.2 billion in 2027, driven by the growth portfolio and new active ingredients [35][36] Question: Can you deconstruct the cost side for Q2 and the second half? - Cost drivers include lower raw material costs, improved fixed cost absorption, and benefits from restructuring actions, with substantial cost tailwinds expected in Q3 and Q4 [41][43] Question: Can you provide parameters on the India business for 2024? - The company forecasted $70 million in sales for H2 2025 from India, with a need for a 9% growth in the business to meet targets [50][51] Question: How is the order book shaping up in Brazil? - Actual orders for the second half in Brazil are about 35% to 40% of what is needed, indicating a positive outlook [58] Question: What is the expectation for the new direct sales program in Brazil? - The impact of the new sales organization in Brazil is expected to be visible in Q3, with growth anticipated year after year [63] Question: What is the outlook for the pheromones offering? - The first full-scale commercial pilot of pheromones is set for Q4, with results expected to inform future revenue projections [93]

Q2 2025 Performance - Revenue increased by 1% to $1,051 million compared to Q2 2024[6], with organic revenue up by 2%[8, 20] - Adjusted EBITDA increased by 2% to $207 million[6, 9] - Adjusted EPS increased by 10% to $0.69[6] - GAAP Net Income decreased by 77% to $67 million[6] - GAAP EPS decreased by 77% to $0.53[6] Regional Performance - North America revenue decreased by 5% to $321 million[21] - Latin America revenue decreased by 17% to $159 million[21] - Asia revenue increased by 1% to $310 million[21] - EMEA revenue increased by 29% to $260 million[21] Financial Outlook - FY 2025 revenue is projected to be between $408 billion and $428 billion, a decrease of 2% year-over-year[24] - FY 2025 Adjusted EBITDA is projected to be between $870 million and $950 million, an increase of 1% year-over-year[24] - FY 2025 Adjusted EPS is projected to be between $326 and $370, flat year-over-year[24] - Q3 2025 revenue is projected to be between $1 billion and $110 billion, a decrease of 1% year-over-year[26] - Q3 2025 Adjusted EBITDA is projected to be between $210 million and $250 million[26] - Q3 2025 Adjusted EPS is projected to be $078 to $098, an increase of 28% year-over-year[26]

Exhibit 99.1 FMC Corporation 2929 Walnut Street Philadelphia, PA 19104 USA 215.299.6000 fmc.com Media contact: Nicole Canning +1.215.299.5916 Nicole.Canning@fmc.com Investor Contact: Curt Brooks +1.215.299.6137 Curt.Brooks@fmc.com FMC Corporation Reports Second Quarter Results at High End of Guidance Range Maintains full year adjusted EBITDA and adjusted EPS guidance; announces sale of India commercial business Second Quarter 2025 Highlights Full-Year Outlook 2 PHILADELPHIA, July 30, 2025 – FMC Corporation ...