FMC Corporation Provides Update to Third-Quarter Expectations and Announces Comprehensive Commercial Actions to Expedite Return to Growth
15 October 2026, Philadelphia: FMC Corporation (NYSE:FMC) today updated its expectations for third quarter 2026. Revenue1 is now expected to be between $65 million and $125 million with expected Adjusted EBITDA2 of negative $565 million to negative $510 million. These estimates include an estimated $625 million to $675 million impact related to commercial actions to lower the price of select products held by channel customers in key markets and to modify the selling and pricing model in the United States.
“Third-quarter demand was weaker than we expected, driven by challenging market conditions and elevated levels of higher-priced FMC products held in inventory by certain channel customers, which are limiting product movement and replenishment demand,” said Pierre Brondeau, chairman, chief executive officer and president. “We have addressed this issue incrementally over several quarters, but under current market conditions, we determined that more comprehensive actions are necessary.”
Overview of Commercial Actions
The critical commercial issue facing FMC is slower-than-expected demand from channel customers in key markets. Under current market conditions, distributors are seeking to operate with the lowest inventory levels FMC has experienced. Although the company made meaningful progress reducing channel inventory volumes in 2025, certain higher-priced FMC products are increasing the overall value of FMC inventory held by some customers. These products entered the channel under different cost structures, intellectual property positions and competitive conditions. Rapid market price declines, driven in part by increased generic competition, have widened the gap between the value of affected inventory and current market prices, limiting movement of those products to growers.
The company views its current pricing as competitive and expects ongoing manufacturing changes to further support competitive pricing. To accelerate product movement and support replenishment demand, FMC is taking two significant actions.
First, the company is taking comprehensive commercial actions in Brazil, Argentina, the United States and Canada to lower the price of select products held by channel customers.
Second, FMC will modify its selling and pricing model in the United States. Historically, products have been sold using a high gross-price and high-rebate structure. FMC intends to significantly reduce the gap between gross and net pricing, simplifying customer economics, improving channel health and better aligning pricing with current market realities.
Together, these two actions are expected to remove a considerable constraint on the movement of FMC products through the channel to growers and to support future replenishment demand from channel customers.
“The actions we have taken under our 2026 operational priorities, combined with these critical commercial actions, are expected to significantly improve the company’s overall competitiveness,” said Brondeau. “We believe removing this hurdle is an important step in completing the company’s transformation and positioning FMC to operate at its full potential in 2027, 2028 and the long term.”
The company will provide more information regarding its quarter results and its 2026 financial outlook when it reports third-quarter earnings on October 29, 2026. In addition, the company will share its preliminary expectations for 2027 and 2028 on its earnings call on October 30, 2026.
While the company expects to be in compliance with covenants at September 30, 2026, the company intends to engage in discussions with its bank group on potential further modifications to its covenants over the next year to provide greater flexibility as the commercial actions described above are implemented.
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