FMC (US:FMC) Benzingaยท2025-10-30 05:04Core Insights - FMC Corporation's shares dropped significantly following a $510 million write-down on its India commercial business and a dividend cut [1][2] Financial Performance - The company reported a GAAP net loss of $569.3 million, or $4.52 per diluted share, in Q3, compared to a net income of $65 million in the same quarter last year [2] - Revenue for Q3 was $542 million, down 49% year-over-year, primarily due to one-time commercial actions in India [4] - Excluding India, revenue fell 4% on a like-for-like basis, with pricing dropping 6% due to cost-plus contract adjustments and increased competition [4] Business Write-Down Details - The India business was previously valued at approximately $960 million but was written down to an estimated fair value of $450 million [3] - The formal impairment charge was about $227 million, along with pre-sale commercial adjustments of approximately $282 million [3] Guidance Adjustments - Full-year revenue guidance was reduced by 7% to a range of $3.92 billion to $4.02 billion [5] - Adjusted EBITDA forecast was lowered by 6% to a range of $830 million to $870 million [5] - Free cash flow guidance was adjusted to a range of zero to negative $200 million [6] Dividend and Leadership Changes - The quarterly dividend was reduced to $0.08 per share to prioritize cash generation and debt reduction [7] - President Ronaldo Pereira will step down effective December 15, with an advisory role until then [7][8] Regional Performance - Year-over-year performance varied by region: North America +4%, Latin America -8%, Asia (excluding India) -47% [10] - Adjusted EPS rose 30% to 89 cents compared to the same quarter last year [10] Stock Performance - The stock is down 40.42% year-to-date, with a market capitalization of $3.63 billion [11]