Fmc Corp Stock Price, News & Analysis

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.

FMC (NYSE: FMC) has elected John M. Raines to its Board of Directors, effective July 15, 2024. Raines, with over 30 years of experience in agriculture and consumer goods, will serve on the Audit and Sustainability Committees. He recently served as president of Digital Agriculture and Consumer Goods at TELUS from 2021 to 2024. Raines has held leadership positions at The Climate and Monsanto Company, and is currently the president of Paris Bancshares, Inc. His expertise in global agriculture, food businesses, M&A transactions, and implementation of modern technology in agriculture is expected to bring valuable insights to FMC's board.

FMC has agreed to sell its Global Specialty Solutions (GSS) business to Envu for $350 million, subject to closing adjustments. The transaction is expected to be completed by the end of 2024, pending regulatory approval. FMC intends to use the proceeds for debt reduction. This divestment allows FMC to focus on its core crop protection market. Envu, backed by private equity firm Cinven, sees the acquisition as a strategic fit to boost innovation and growth in the environmental science sector.

FMC (NYSE: FMC) has scheduled the release of its second quarter 2024 earnings results for Wednesday, July 31, 2024, after the market closes. The detailed financial results and further information will be available via PR Newswire and the company's investor relations website.

Following the earnings release, FMC will host a webcast conference call on Thursday, August 1, 2024, at 9:00 a.m. ET. The call is accessible to the public via internet broadcast and telephone. A replay of the call will be available from 11:00 a.m. ET on August 1, 2024, until August 22, 2024, through the company's website and designated telephone numbers.

FMC 's Board of Directors has appointed Pierre Brondeau as chairman and CEO, succeeding Mark Douglas who steps down after 14 years. Brondeau previously served as CEO from 2010-2020, overseeing significant growth and a 325% total shareholder return. Ronaldo Pereira has been promoted to president, previously serving as EVP and president of the Americas region. The company reaffirms its Q2 2024 revenue and earnings guidance. Douglas will act as an executive advisor until September. FMC aims to continue its growth in the agricultural sciences sector under Brondeau and Pereira's leadership.