FMC Corporation Reports Second Quarter 2026 Results With Adjusted EBITDA Above High End Of Guidance Range And SOLID Cash Generation

30 July 2026, Philadelphia: FMC Corporation (NYSE: FMC) today reported second quarter 2026 revenue of $867 million, down 17 percent versus second quarter 2025.  Second quarter 2026 revenue, excluding India, was $841 million, down 20 percent versus second quarter 2025, which included India.  On a GAAP basis, the company reported a loss of $1.49 per diluted share in the second quarter, a decrease of $2.02 versus second quarter 2025.  Second quarter adjusted earnings per diluted share of $0.26 was down 62 percent versus second quarter 2025.

“During the quarter, we completed several important actions that strengthened FMC’s financial foundation and provide greater flexibility to execute our strategy,” said Pierre Brondeau, chairman, chief executive officer and president. “With the strategic review now concluded, we have clarity on the path forward and remain focused on improving competitiveness, advancing our technology portfolio and positioning the company for long-term growth.”

FMC Revenue	Q2 2026
Total Revenue Change (GAAP)	(17) %
Total Revenue Change (ex-India) (Non-GAAP)	(20) %
Less: 2025 revenue for India held for sale business	(5) %
Like-for-Like Revenue Change (Non-GAAP)	(15) %

Second quarter sales of $841 million, excluding India, were 20 percent lower than prior year.  The removal of India represented a 5 percent sales headwind.  Volumes declined 10 percent due to lower diamide partner orders and reduced demand for core legacy products, particularly in North America, as growers contend with strained margins. Price declined 7 percent, driven by pressure on the company’s core legacy products and planned Rynaxypyr® active pricing actions.  Foreign currency was a 2 percent tailwind.  The growth portfolio grew mid-single digits as lower Plant Health sales were more than offset by strong performances from new active ingredients and Cyazypyr® active, reflecting continued demand for innovative solutions. Branded sales of Rynaxypyr® were essentially flat versus prior year, excluding India, with strong demand for new formulations.

FMC Regional Revenue ($M)	Q2 2026	Q2 2025
North America	$249	$321
Latin America	$278	$310
EMEA	$214	$260
Asia (excluding 2026 India)1	$101	$159
2026 India1	$26	—
Total Revenue (GAAP)	$867	$1,051
Totals may not sum due to rounding

GAAP net loss in the second quarter declined $253 million primarily due to lower sales, higher restructuring costs and higher interest expense. FMC second quarter Adjusted EBITDA was $153 million, a decrease of 26 percent from the prior-year period.  Lower price and volume were partially offset by favorable costs and a moderate FX tailwind.

On a GAAP basis, cash from operations for the second quarter was $363 million, an increase of $297 million versus 2025, including a $200 million upfront payment related to the rimisoxafen active ingredient licensing agreement.  Free cash flow was $357 million, an improvement of $318 million versus Q2 2025 primarily due to higher cash from operations.

Strategy Update

FMC continued to make progress on its four operational pillars during the second quarter: reducing debt, improving the competitiveness of its core portfolio, managing the post-patent transition for Rynaxypyr® and accelerating growth of new active ingredients. These pillars remain the foundation of the company’s plan to improve earnings and cash generation, positioning FMC to take full advantage of its technology-driven growth potential.

During the quarter, FMC announced the key components of its targeted approximately $1 billion of proceeds to be used for debt reduction. These actions included signing a definitive agreement for the sale of its India commercial business for $252 million, closing on a licensing agreement for rimisoxafen with Corteva for an upfront payment of $200 million, signing a sale-leaseback agreement for its Newark, Delaware property for $114 million and reaching an agreement for a $400 million equity investment from Tessenderlo Group. With these actions and other minor asset sales to be completed this year, FMC expects to generate approximately $1 billion of proceeds to be used for debt paydown.  The India commercial business sale, the Newark, Delaware property sale and the Tessenderlo Group investment are subject to various closing conditions, including regulatory approvals.

With these actions in place, the FMC Board of Directors has concluded the exploration of strategic options announced in February 2026. The company remains focused on executing its operational priorities and strengthening the foundation for future growth through its differentiated technology portfolio.

Full Year Outlook¹

The company has updated its full-year 2026 revenue, Adjusted EBITDA, Adjusted EPS and free cash flow guidance ranges.  Full year 2026 revenue guidance¹ is now $3.50 billion to $3.70 billion, a decline of 7 percent at the midpoint versus prior year¹. The updated guidance reflects a more challenging operating environment and incorporates the company’s current view of customer purchasing patterns and market conditions.  Price is expected to be lower by mid-to-high single digits mainly due to a challenging macro environment as well as planned pricing actions for Rynaxypyr®. Excluding India, volume is expected to be in line with prior year as reduced diamide partner orders are offset by growth in nearly all other parts of the portfolio. India represents a 2 percent headwind¹. FX is expected to be a low-single digit tailwind.

Adjusted EBITDA is expected to be $620 million to $680 million, a decline of 23 percent versus prior year, as lower price and an FX headwind are partially offset by favorable costs. Adjusted EPS is expected to be $1.19 to $1.49, a decrease of 55 percent versus prior year, primarily due to lower Adjusted EBITDA and increased interest expense. Free cash flow is expected to be $75 million to $225 million.  Free cash flow guidance now includes the $200 million upfront payment received for rimisoxafen licensing.

Third Quarter and Fourth Quarter Outlooks¹

Third quarter revenue excluding India is expected to be in the range of $840 million to $900 million, down 9 percent at the midpoint versus third quarter 2025. Price is expected to be lower by mid-to-high single digits. FX is expected to be neutral. Volume is expected to be lower as distributors in North America shift orders from Q3 to Q4 to align purchases more closely with application timing and manage inventory levels. Adjusted EBITDA is forecasted to be in the range of $120 million to $140 million, a decrease of 45 percent at the midpoint versus the prior year as lower sales and an FX headwind are partially offset by favorable costs. FMC expects adjusted earnings per diluted share to be in the range of $0.05 to $0.13 in the third quarter, which represents a 90 percent decline at the midpoint versus third quarter 2025 driven mainly by lower adjusted EBITDA and higher interest expense.

The company expects a return to year-over-year growth in the fourth quarter. Fourth quarter revenue excluding India is expected to be in the range of $1.06 billion to $1.20 billion, an increase of 4 percent at the midpoint versus fourth quarter 2025. Volume is expected to show healthy growth driven by increased direct sales to growers in Brazil, new active ingredients and North America distributor orders that shifted from Q3 to Q4. Price is expected to decline by mid-to-high single digits.  Adjusted EBITDA is forecasted to be in the range of $275 million to $315 million, an increase of 5 percent at the midpoint versus the prior year as lower price and an FX headwind are more than offset by higher volume and favorable costs.  FMC expects adjusted earnings per diluted share to be in the range of $1.09 to $1.33 in the fourth quarter, which represents a 1 percent increase at the midpoint versus fourth quarter 2025.

	Full-Year 2026 Outlook1	H2 2026    Outlook1	Third Quarter Outlook1	Fourth Quarter Outlook1
Revenue Excl. India	$3.50 billion to$3.70 billion	$1.90 billion to$2.10 billion	$840 million to$900 million	$1.06 billion to$1.20 billion
Growth at midpoint vs. 2025*	(7) %	(2) %	(9) %	4 %
Adjusted EBITDA	$620 million to$680 million	$395 million to$455 million	$120 million to$140 million	$275 million to$315 million
Growth at midpoint vs. 2025*	(23) %	(18) %	(45) %	5 %
Adjusted EPS^	$1.19 to $1.49	$1.16 to $1.46	$0.05 to $0.13	$1.09 to $1.33
Growth at midpoint vs. 2025*	(55) %	(37) %	(90) %	1 %

Supplemental Information

The company will post supplemental information on the web at https://investors.fmc.com, including its webcast slides for tomorrow’s earnings call, definitions of non-GAAP terms and reconciliations of non-GAAP figures to the nearest available GAAP term.

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