Financial Data and Key Metrics Changes - Company sales declined 14% year-over-year, with pricing down 9% and volume down 1% [17][18] - First quarter EBITDA declined 25% due to lower pricing and FX headwinds [21] - Free cash flow in the first quarter was negative $596 million, significantly lower than the prior year [33] Business Line Data and Key Metrics Changes - The Plant Health business outperformed the portfolio with sales up 1% year-over-year, driven by biologicals [18] - North America experienced a sales decline of 28%, primarily due to lower volume from cautious purchases [19] - Latin America grew 17% excluding FX headwinds, with increased direct sales to cotton growers in Brazil [19] Market Data and Key Metrics Changes - A strong U.S. Dollar led to an FX headwind of 4% [18] - Asia reported a sales decline of 21% excluding currency impacts, driven by intentional prudent selling [20] - EMEA reported 7% lower sales excluding currency impact due to lower volumes [20] Company Strategy and Development Direction - The company is focusing on decreasing product in the channel to align with customer inventory levels and implementing a post-patent strategy for Renexapia [7][8] - A new route to market in Brazil is being established to sell directly to large corn and soybean growers, expected to provide significant growth opportunities [12] - The growth portfolio is positioned to deliver strong growth with new active ingredients expected to perform well in 2025 [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving financial objectives for 2025, with expectations for significant momentum in the second half of the year [36] - The company anticipates revenue growth of 7% in the second half, driven by new products and the new route to market in Brazil [28] - Management noted that the impact of recently announced tariffs is manageable and will not significantly hinder reaching 2025 goals [27] Other Important Information - The effective tax rate on adjusted earnings was 14% in the first quarter, in line with expectations for the full year [31] - Gross debt increased to approximately $4 billion due to seasonal working capital build [32] - The company expects free cash flow of $200 million to $400 million for 2025, a decrease from the prior year [33] Q&A Session Summary Question: Price trends in the crop protection market outside of diamides - Management indicated that pricing comparisons will ease in the second half of the year, with expectations for more stability [40][42] Question: Guidance on strong growth in the second half of the year - Management expressed high confidence in revenue growth driven by new products and a healthy channel situation starting in Q3 [46][48] Question: Actions to offset tariff impacts - Management clarified that cost-saving actions were planned regardless of tariffs and are expected to be at the higher end of projections [53][56] Question: Reducing channel inventories - Management explained that reducing channel inventories involved shifting focus to end users without significant rebates or discounts [62] Question: Updates on the DaiMod strategy - Management confirmed ongoing cost reductions and confidence in growth run rates despite the upcoming patent expirations [66] Question: Alternatives for sourcing raw materials impacted by tariffs - Management highlighted flexibility in the supply chain with multiple sources for critical raw materials to limit tariff impacts [71][74] Question: Customer order patterns - Management noted that customer orders are picking up speed in Q2, with a positive dynamic observed in Europe [82] Question: Differences between selling directly to farmers and through the channel - Management indicated that the EBIT margin is similar for both sales methods, with cash conversion linked more to regional operations [86][88] Question: Second half EBITDA bridge - Management explained that the pricing and FX headwinds are interconnected, with expectations for a lower impact in the second half [94]

FMC Corporation (FMC) reported a loss of 12 cents per share for first-quarter 2025. This compares unfavorably to loss of 2 cents incurred in the year-ago quarter.Barring one-time items, adjusted earnings per share were 18 cents, beating the Zacks Consensus Estimate of 8 cents.Revenues were $791.4 million in the quarter, down around 13.8% from the year-ago quarter’s levels. The top line beat the Zacks Consensus Estimate of $779 million.The top line fell due to a price decline of 9%, more than half of which w ...

分组1 - FMC reported quarterly earnings of $0.18 per share, exceeding the Zacks Consensus Estimate of $0.08 per share, but down from $0.36 per share a year ago, representing an earnings surprise of 125% [1] - The company achieved revenues of $791.4 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 1.59%, although this is a decrease from year-ago revenues of $918 million [2] - Over the last four quarters, FMC has consistently surpassed consensus EPS estimates and topped revenue estimates three times [2] 分组2 - The stock has underperformed, losing approximately 14.1% since the beginning of the year, compared to a decline of 5.5% in the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is $0.70 on revenues of $1.02 billion, and for the current fiscal year, it is $3.34 on revenues of $4.14 billion [7] - The Agriculture - Operations industry, to which FMC belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, indicating potential challenges ahead [8]

Q1 2025 Financial Results - Revenue decreased by 14% from Q1 2024, totaling $791 million compared to $918 million[9] - GAAP Net Loss was $(16) million, a decrease of $(13) million compared to Q1 2024's $(3) million[9] - Adjusted EBITDA decreased by 25% to $120 million, compared to $161 million in Q1 2024[9] - Adjusted EPS decreased by 50% to $0.18, compared to $0.36 in Q1 2024[9] Regional Revenue Performance - North America revenue decreased by 10% organically, or 27% excluding FX, to $207 million[14] - Latin America revenue decreased by 28% year-over-year, but increased by 17% excluding FX, reaching $186 million[14] - Asia revenue decreased by 24% year-over-year, or 21% excluding FX, to $125 million[14] - EMEA revenue decreased by 11% year-over-year, or 7% excluding FX, to $273 million[14] 2025 Financial Outlook - Q2 2025 revenue is projected to be between $104 billion and $1.10 billion, a decrease of 2% year-over-year[25] - Q2 2025 Adjusted EBITDA is expected to be between $175 million and $205 million, a decrease of 6% year-over-year[25] - FY 2025 revenue is projected to be between $4.15 billion and $4.35 billion, flat year-over-year or up 3% excluding GSS[27] - FY 2025 Adjusted EBITDA is projected to be between $870 million and $950 million, up 1% year-over-year or 4% excluding GSS[27] Tariff Impact - The company estimates $15 million to $20 million of direct incremental costs in 2025 due to tariffs[30]

Financial Performance - First quarter 2025 revenue was $791 million, down 14% compared to Q1 2024, and down 10% organically[3] - The company reported a GAAP net loss of $16 million, a decline of $13 million versus Q1 2024, with adjusted earnings per diluted share of $0.18, down 50% year-over-year[4] - Adjusted EBITDA for Q1 2025 was $120 million, a decrease of 25% from the prior year, driven by lower pricing and reduced volume[4] - North America sales declined 28%, while Latin America sales grew 10%, and Asia saw a 24% revenue decline[6] - The full-year revenue outlook is maintained at $4.15 billion to $4.35 billion, essentially flat at the midpoint compared to the prior year[4] - Second quarter revenue is expected to range from $940 million to $1.10 billion, reflecting a 2% decline at the midpoint compared to Q2 2024[9] - The company anticipates a 7% increase in second-half sales compared to the same period last year, driven by growth in its portfolio and new market routes[9] - Adjusted EBITDA guidance for the full year is set at $870 million to $950 million, reflecting a 1% increase at the midpoint versus the prior year[4] - The company expects adjusted earnings per diluted share in Q2 to be between $0.52 and $0.68, representing a 5% decrease at the midpoint compared to Q2 2024[9] Cash Flow and Liquidity - Free cash flow forecast remains at $200 million to $400 million, indicating a 51% decline at the midpoint from the previous year[4] - Free cash flow for Q1 2025 was $(595.7) million, significantly lower than $(187.8) million in Q1 2024, indicating increased cash requirements[32] - Cash provided by operating activities of continuing operations was $(545.0) million in Q1 2025, a significant decline compared to $(142.9) million in Q1 2024[42] - Cash and cash equivalents decreased to $315.3 million at the end of Q1 2025 from $357.3 million at the beginning of the period, a decline of 11.8%[42] - Cash provided by financing activities of continuing operations was $552.1 million in Q1 2025, an increase from $305.7 million in Q1 2024[42] - The company reported a cash outflow from investing activities of $(38.0) million in Q1 2025, compared to $(23.7) million in Q1 2024[42] Debt and Equity - Total debt as of March 31, 2025, was $4,003.5 million, down from $4,335.7 million a year earlier, showing a reduction in leverage[37] - Long-term debt remained stable at approximately $3,027.7 million in Q1 2025, compared to $3,027.9 million in Q4 2024[40] - The equity of the company decreased to $4,411.6 million in Q1 2025 from $4,508.8 million in Q4 2024, a decline of 2.2%[40] Operational Efficiency - Adjusted after-tax earnings from continuing operations for Q1 2025 were $22.4 million, down from $45.4 million in Q1 2024, indicating a decrease of 50.7%[22] - Adjusted ROIC for the twelve months ended March 31, 2025, was 7.16%, compared to 3.85% using GAAP net income, indicating improved capital efficiency[37] - Restructuring charges for Q1 2025 amounted to $17.8 million, down from $40.9 million in Q1 2024, reflecting a decrease in restructuring activities[22] - Interest expense for Q1 2025 was $50.1 million, compared to $61.7 million in Q1 2024, indicating a reduction in financing costs[31] Assets and Liabilities - Total current assets increased to $5,077.6 million in Q1 2025 from $4,958.3 million in Q4 2024, representing a growth of 2.4%[40] - Total liabilities increased to $7,003.8 million in Q1 2025 from $6,144.5 million in Q4 2024, reflecting a rise of 14%[40] - The total assets of the company increased to $11,800.9 million in Q1 2025 from $11,653.3 million in Q4 2024, a growth of 1.3%[40] Inventory Management - Inventories rose to $1,374.4 million in Q1 2025, up from $1,201.6 million in Q4 2024, indicating an increase of 14.4%[40] Shareholder Information - The average number of shares outstanding for diluted adjusted after-tax earnings per share in Q1 2025 was 125.5 million, slightly up from 125.2 million in Q1 2024[23] - Tax adjustments for Q1 2025 totaled $14.3 million, with significant contributions from foreign currency remeasurement and other discrete items[27]

Core Insights - FMC Corporation reported a first quarter 2025 revenue of $791 million, a decrease of 14% compared to Q1 2024, with an organic decline of 10% [1][12] - The company experienced a GAAP net loss of $16 million, translating to a loss of $0.12 per diluted share, which is a decrease of $0.10 from the previous year [1][12] - Adjusted earnings per diluted share were $0.18, down 50% from Q1 2024 [1][12] Revenue and Sales Performance - First quarter sales were largely in line with expectations, with a focus on aligning inventory levels with customer targets [2] - Revenue decline was primarily driven by a 9% price decrease, with over half attributed to price adjustments in specific contracts due to lower manufacturing costs [2] - North America sales fell by 28%, while Latin America saw a 10% increase, and Asia experienced a 24% decline [3] Financial Metrics - Adjusted EBITDA for Q1 2025 was $120 million, down 25% from the prior year, influenced by lower pricing and reduced volume [4][12] - Cash from operations was negative $545 million, a decline of $402 million compared to Q1 2024, primarily due to less inventory reduction [5][12] - Free cash flow was negative $596 million, reflecting a decline of 51% at the midpoint from the previous year [12] Outlook - The company maintains its full-year 2025 revenue guidance of $4.15 billion to $4.35 billion, indicating flat growth at the midpoint compared to the prior year [6][12] - For Q2 2025, revenue is expected to range from $940 million to $1.10 billion, representing a 2% decline at the midpoint compared to Q2 2024 [7] - The second half of 2025 is projected to see a 7% increase in sales and an 11% increase in adjusted EBITDA compared to the same period last year [8][9]

Core Viewpoint - FMC Corporation has elected Steven Merkt to its Board of Directors, effective April 29, 2025, to enhance its strategic growth initiatives in the agricultural sciences sector [1][2]. Company Overview - FMC Corporation is a global agricultural sciences company focused on providing solutions for food, feed, fiber, and fuel production while adapting to environmental changes [4]. - The company emphasizes innovation in crop protection solutions, including biologicals, crop nutrition, and digital agriculture, to help growers tackle challenges economically and sustainably [4]. Leadership Appointment - Steven Merkt brings over 30 years of experience in international manufacturing, operational excellence, cybersecurity, and corporate governance [2][3]. - His previous role as president of the Transportation Solutions segment at TE Connectivity from 2012 to 2024 involved significant profitability growth and the development of a robust innovation pipeline [2]. - Merkt has held senior leadership positions in various sectors, including automotive, and has experience in managing complex Board governance issues [3]. Strategic Goals - The addition of Merkt to the Board is expected to provide valuable insights and leadership as FMC aims to strengthen its position as a global leader in agricultural sciences [2]. - Merkt expressed his commitment to accelerating FMC's mission and driving growth while ensuring operational excellence [4].

Core Viewpoint - FMC Corporation is expected to report its first-quarter 2025 results on April 30, with a history of beating earnings estimates and a trailing four-quarter earnings surprise of approximately 20.2% [1][4] Earnings Performance - FMC has consistently exceeded Zacks Consensus Estimates for earnings in the last four quarters, with an earnings surprise of 11.1% in the most recent quarter [1][2] - The Earnings ESP for FMC is +34.04%, indicating a strong likelihood of an earnings beat this quarter [4] Revenue Estimates - The Zacks Consensus Estimate for FMC's first-quarter sales is $779 million, reflecting a 15.1% year-over-year decline [7] - Revenue estimates for different regions include: - North America: $224.2 million, a 13.4% decline [7] - Latin America: $137.9 million, a 26.6% decline [7] - EMEA: $278.5 million, a 9.2% decline [8] - Asia: $144.8 million, an 11.8% decline [8] Factors Influencing Performance - FMC is expected to benefit from new product launches and cost-control measures, which are anticipated to support its performance despite challenges [2][9] - The company is focusing on expanding its product portfolio and has seen strong sales from its growth portfolio, including new active ingredients [9] - Cost reductions and a favorable product mix are expected to positively impact margins, with restructuring actions projected to yield $165 million in adjusted EBITDA for full-year 2024 and over $225 million in savings by the end of 2025 [10] Challenges Faced - FMC is likely to encounter challenges from inventory de-stocking and pricing pressures, which may negatively affect volumes and revenues [11][12] - The company projects first-quarter revenues in the range of $750-$800 million, indicating a 16% decrease at the midpoint compared to the same period in 2024 [11] - Weaker prices are expected to continue impacting revenues, with a mid-to-high single-digit price decline anticipated due to adjustments in partner contracts [12]

The market expects FMC (FMC) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on April 30 ...

Group 1: Leadership Transition - FMC Corporation announced the retirement of Michael F. Reilly after 23 years with the company, effective July 1, 2025 [1] - Sara Velazquez Ponessa has been appointed as the new executive vice president, general counsel, and corporate secretary, effective June 1, 2025 [1] - Reilly's tenure included significant contributions to FMC's transformation into a focused agricultural sciences company, overseeing strategic initiatives, acquisitions, and divestitures [1][2] Group 2: New General Counsel's Background - Ponessa previously served as senior business counsel at FMC from 2012 to 2018 and has extensive legal experience, including her role as general counsel at Livent Corporation [2][3] - At Livent, she led the legal aspects of the company's successful 2018 IPO and its 2019 spinoff from FMC [2] - Most recently, Ponessa was vice president, general counsel, and secretary at Arcadium Lithium plc, managing global legal and compliance functions [2][3] Group 3: Transition Support - Reilly will support Ponessa in her new role starting April 28 to ensure a smooth transition [4] Group 4: Company Overview - FMC Corporation is a global agricultural sciences company focused on providing innovative crop protection solutions to help growers meet the challenges of food production while protecting the environment [5]