Core Insights - Nufarm is collaborating with ChrysaLabs to quantify soil carbon sequestration benefits from the expansion of Carinata production in South America, which is part of Nufarm's bioenergy portfolio aimed at producing low-carbon fuels for hard-to-decarbonize sectors like aviation [1][4] - ChrysaLabs provides an integrated solution for carbon measurement and verification, which is expected to lower costs and enable scaling in the carbon market, utilizing advanced sensing technology [2][6] - The project aims to create a carbon-to-carbon cycle by cultivating Carinata as an intermediate crop, sequestering atmospheric carbon back into the soil while delivering measurable climate benefits [3][4] Company Overview - Nufarm is a global company focused on crop protection and seed technologies, addressing challenges in food, feed, fiber, and sustainable fuel production [5] - ChrysaLabs specializes in soil data and carbon quantification, helping partners measure and scale carbon projects through innovative sensing technology [6] Strategic Implications - The partnership between Nufarm and ChrysaLabs is expected to advance carbon modeling and unlock new business opportunities in scalable biofuel production, bridging sustainability with profitability [4] - Nufarm's bioenergy programs are independently certified to meet various sustainability standards, providing traceable assurance for airlines and corporate customers to demonstrate credible emission reduction claims [4]

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]

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].

Financial Data and Key Metrics Changes - For Q4 2024, the company reported revenues of approximately $169 million, a decrease of 2% compared to Q4 2023, and adjusted EBITDA of approximately $18 million, down 18% year-over-year [21] - For the full year 2024, adjusted revenues were approximately $563 million, a decrease of about 3% from 2023, with adjusted EBITDA at $42 million compared to $53 million in the prior period [22][23] Business Line Data and Key Metrics Changes - The company is focusing on improving its balance sheet, reporting inventories at approximately $180 million, which included write-downs for obsolescence and slow-moving items [22] - The average inventory turns for 2024 ended at 1.67%, with a target to push this metric towards about 2 turns by year-end 2025 [24] Market Data and Key Metrics Changes - The agricultural economy is showing signs of gradual improvement, with customers indicating a slight improvement in sentiment since the low point in summer 2024, although they remain conservative in buying patterns [16] - The company anticipates that 2025 will be better than 2024, with an adjusted EBITDA target range of $45 million to $52 million and expected sales between $565 million and $585 million [18] Company Strategy and Development Direction - The new CEO emphasized the need to improve margins, rightsize the balance sheet, and return to growth, with a focus on simplifying operations and prioritizing key tasks [9][14] - The company plans to allocate the bulk of its free cash flow towards debt repayment as part of its transformation strategy [19] Management's Comments on Operating Environment and Future Outlook - Management noted that while the agricultural economy is improving, farmers are cautious due to high capital costs and potential tariffs, leading to a just-in-time purchasing approach [16][53] - The CEO expressed confidence that 2025 will show improvement over 2024, contingent on resolving tariff issues and improving market conditions [54] Other Important Information - The company recorded $118 million in nonrecurring charges for 2024, primarily related to asset impairments and transformation projects [27] - There is a delay in filing the audited 10-K due to complex assessments related to write-downs, with plans to file a 12b-25 with the SEC [29] Q&A Session Summary Question: Timing of the financial filing - Management indicated that the filing would occur within weeks, not months, and the delay was due to complex write-down assessments rather than any surprising issues [40][41] Question: Working capital expectations for 2025 - The focus remains on inventory as the primary area for working capital improvement, with a refreshed SIOP model to enhance efficiency [45] Question: Addressing organizational complexity - The CEO discussed steps taken to simplify the organization, including an ERP system implementation and restructuring for accountability [47][48] Question: Impact of tariffs on farmer buying patterns - Management noted that uncertainty from tariffs is causing farmers to be cautious, affecting their purchasing decisions [53] Question: Confidence in 2025 guidance - The CEO expressed confidence in the guidance, with the lower end reflecting slower industry conditions and the upper end reflecting positive influences on purchasing [69] Question: Transformation costs for 2025 - Projected transformation costs for 2025 are around $5 million, significantly lower than in 2024, with expected benefits from commercial activities and logistics [72]