Core Insights - FMC Corporation announced its 2026 operational priorities, focusing on strengthening its balance sheet and exploring strategic options to enhance shareholder value [2][3][5] Financial Performance - For the fourth quarter of 2025, FMC reported revenue of $1.08 billion, a decline of 12% compared to the fourth quarter of 2024, with a 6% price decline primarily due to Rynaxypyr® [13][14] - The full year 2025 revenue was $3.47 billion, an 18% decrease from 2024, driven by a 6% price decline and competitive pressures [16][17] - Adjusted EBITDA for 2025 was $843 million, down 7% year-over-year, with favorable costs offset by price declines and the removal of India sales [18] 2026 Outlook - FMC's revenue guidance for 2026 is projected between $3.60 billion and $3.80 billion, reflecting a 5% decline at the midpoint compared to the previous year [6] - Adjusted EBITDA for 2026 is expected to be between $670 million and $730 million, a 17% decrease from the prior year [7] - Adjusted EPS for 2026 is forecasted to be between $1.63 and $1.89, a decrease of 41% compared to the previous year [7] Strategic Initiatives - The company plans to pay down $1 billion in debt through asset sales and licensing agreements, including the sale of its India commercial business [3][4] - FMC aims to improve the competitiveness of its core portfolio and manage the post-patent transition for Rynaxypyr® while advancing the commercialization of new active ingredients [3][4] Market Dynamics - The anticipated decline in revenue is attributed to lower prices and reduced orders from diamide partners, with India representing a 2% headwind [6] - Sales of new active ingredients are expected to grow significantly, projected between $300 million and $400 million, marking over 75% growth at the midpoint compared to the previous year [6]

Q3 2025 Financial Performance - GAAP Revenue decreased by 49% from Q3 2024, reaching $542 million[8] - Revenue excluding India decreased by 10%, amounting to $961 million[8] - GAAP Net Income experienced a significant decline of $(634) million, resulting in a loss of $(569) million[8] - Adjusted EBITDA increased by 17% to $236 million, representing 246% of revenue excluding India[8] - Adjusted EPS increased by 30% to $089[8] Regional Revenue Drivers - Lower revenue excluding India was primarily driven by lower pricing[12] - North America revenue was $463 million, a decrease of 8% year-over-year (or -9% excluding FX)[17] - Latin America revenue was $244 million, a decrease of 4% year-over-year[17] - Asia revenue decreased by 47% year-over-year (or -46% excluding FX) to $99 million[17] - EMEA revenue increased by 11% year-over-year (or 7% excluding FX) to $155 million[17] Q4 2025 Financial Outlook - Revenue is projected to be between $112 billion and $122 billion, a decrease of 4% year-over-year[26] - Adjusted EBITDA is expected to be between $265 million and $305 million, a decrease of 16% year-over-year[26] - Adjusted EPS is projected to be between $114 and $136, a decrease of 30% year-over-year[26] FY 2025 Financial Outlook - Revenue is projected to be between $392 billion and $402 billion, a decrease of 7% year-over-year[28] - Adjusted EBITDA is expected to be between $830 million and $870 million, a decrease of 6% year-over-year[28] - Adjusted EPS is projected to be between $292 and $314, a decrease of 13% year-over-year[28] Cash Flow - Free Cash Flow (FCF) was $(233) million in Q3 2025, a decrease of $(365) million compared to Q3 2024[30] - The company expects Free Cash Flow to be between $(200) million and $0 million for FY 2025[30]

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]