Fmc Corp Stock Price, News & Analysis

FMC (NYSE:FMC) and Envu have completed the sale of FMC's Global Specialty Solutions (GSS) business, following their definitive acquisition agreement from July 11, 2024. The GSS business includes products for non-crop markets like golf courses, sports stadiums, and pest control. This strategic divestiture allows FMC to focus exclusively on the global crop protection market. As part of the agreement, FMC will remain a contracted supplier of key products and actives during the transition period. FMC plans to use all proceeds from the sale for debt reduction.

FMC reported strong Q3 2024 results with revenue of $1.07 billion, up 9% from Q3 2023 and 12% organically. The company posted consolidated GAAP net income of $66 million ($0.52 per share), compared to a net loss in Q3 2023. Adjusted EBITDA reached $201 million, up 15%. Volume growth of 17% offset a 5% price decline and 3% FX headwind.

The company updated its full-year 2024 outlook, expecting revenue of $4.33-4.44 billion (2% decline), adjusted EBITDA of $885-915 million (8% decline), and adjusted EPS of $3.16-3.52 (12% decrease), accounting for the expected sale of its GSS business.

FMC (NYSE: FMC) has announced a distribution agreement with Ballagro Agro Tecnologia Ltda. to expand its biologicals crop protection offering in Brazil. This partnership is part of FMC's strategic plan to grow its biologicals platform in key markets. FMC Brazil will license and distribute key leading biosolutions from Ballagro, combining FMC's expertise in microbial solutions with Ballagro's fungi-based technologies.

The collaboration aims to provide Brazilian growers with a comprehensive portfolio of biological solutions to improve productivity, efficiency, and sustainability. This agreement supports FMC's integrated approach to pest management for more sustainable agricultural production. FMC has launched nearly 50 biological products in 42 countries in the past five years and will continue to invest in growing its Plant Health business through various strategies.

FMC (NYSE: FMC) and UN Global Compact Network USA hosted a roundtable discussion on sustainable food systems during the UN General Assembly. The event, titled 'Sustainable Food Systems: Paving the Way for a Greener Future,' brought together global leaders to address challenges like climate change, food security, and resource conservation.

Julie DiNatale, FMC's chief sustainability officer, highlighted the company's commitment to accelerating innovation in sustainable farming practices. The discussion emphasized the importance of collaboration across the food value chain and investments in new technologies to support farmers and drive sustainable change.

FMC is actively participating in various events during Climate Week and UNGA in New York, demonstrating its dedication to advancing sustainable food systems and collaborating with industry experts, innovators, and policymakers.

FMC (NYSE: FMC) has announced the dates for its third quarter 2024 earnings release and webcast conference call. The company will release its Q3 2024 earnings on Tuesday, October 29, 2024, after the stock market close. This will be followed by a webcast conference call on Wednesday, October 30, 2024, at 9:00 a.m. ET.

The conference call will be open to the public via internet broadcast and telephone. Interested parties can access the internet broadcast at https://investors.fmc.com. For those joining by phone, various dial-in options are available, including toll-free numbers for the United States. A replay of the call will be accessible from 11:00 a.m. ET on October 30, 2024, until November 20, 2024, via both internet and telephone.

FMC (NYSE: FMC) has secured a temporary restraining order against Sharda USA for patent infringement. The order, granted by the United States District Court for the Eastern District of Pennsylvania, prohibits Sharda from importing, marketing, or selling premix products containing bifenthrin and cyano-pyrethroids covered by FMC's patents. This includes Sharda's 'Winner' insecticide product.

The lawsuit alleges that Sharda infringed on FMC's patents for insecticide products containing bifenthrin and zeta-cypermethrin, which FMC sells under the brand Hero® insecticide. FMC also claims that Sharda misappropriated their copyrighted product label for Hero®. This ruling reinforces FMC's commitment to protecting its intellectual property rights and supporting innovation in agriculture.

FMC (NYSE: FMC) has submitted regulatory applications for Dodhylex™ active herbicide in eight major rice-growing countries, covering 35% of global rice acreage. Dodhylex™ active, classified as a Group 28 herbicide, is the first new mode of action herbicide in over 30 years. It offers season-long control of resistant grass weeds in rice and is being researched for use in other crops. FMC expects to launch Dodhylex™ active in 2026, pending regulatory approvals. This innovation demonstrates FMC's commitment to combating herbicide resistance and supporting food security.

FMC reported Q2 2024 revenue of $1.04 billion, up 2% from Q2 2023 and 4% organically. Adjusted EBITDA rose 8% to $202 million, while adjusted EPS increased 26% to $0.63. The company updated its full-year 2024 outlook, projecting revenue of $4.30-$4.50 billion (2% decline at midpoint) and adjusted EBITDA of $880-$940 million (7% decline at midpoint). FMC expects stronger performance in H2 2024, with revenue forecasted to grow 15% and adjusted EBITDA to increase 28% compared to H2 2023. The company cited improved demand and volume growth, particularly in the U.S. and Brazil, as key drivers for Q2 performance.

FMC (NYSE: FMC) has announced a regular quarterly dividend of 58 cents per share. This dividend will be payable on October 17, 2024, to shareholders of record at the close of business on September 30, 2024. The declaration of this dividend by the board of directors demonstrates FMC's commitment to returning value to its shareholders and maintaining a consistent dividend policy.