FMC Q2 adjusted EPS beats estimates, cuts FY outlook

Overview

• U.S. agricultural sciences firm's Q2 revenue fell 17% and missed analyst expectations

• Adjusted EPS and adjusted EBITDA for Q2 both beat analyst estimates

• Company cites lower volumes and pricing pressures, especially in North America, for revenue decline

Outlook

• FMC sees full-year 2026 revenue excluding India at $3.50 bln to $3.70 bln

• Company lowers full-year adjusted EBITDA to $620 mln to $680 mln

• FMC expects a return to year-over-year growth in Q4 2026

Result Drivers

• VOLUME AND PRICING PRESSURE - Co said Q2 revenue fell due to lower diamide partner orders, reduced demand for core legacy products in North America, and price declines driven by pressure on legacy products and planned pricing actions for Rynaxypyr

• GROWTH PORTFOLIO - Co said growth portfolio grew mid-single digits as strong performances from new active ingredients and Cyazypyr offset lower Plant Health sales

• COST ACTIONS AND FX - Co said lower price and volume were partially offset by favorable costs and a moderate FX tailwind

Company press release: ID:nPn85CS9Wa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 10 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the agricultural chemicals peer group is "buy."

• Wall Street's median 12-month price target for FMC Corp is $15.00, about 37.1% above its July 28 closing price of $10.94

• The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads

• July 29 - CVR Partners Q2 net income more than doubles YoY on higher realized prices

• July 29 - Scotts Miracle-Gro Q3 revenue matches estimates, adjusted EPS beats

• July 29 - Germany's BASF Q2 net income surges on coatings sale

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)