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FMC Broadens Biologicals Crop Protection Platform in Canada
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FMC Corporation (FMC - Free Report) established a partnership in Canada with Novonesis, a leader in plant biosolutions. The agreement is part of FMC's strategy to expand its biologicals platform in important markets.
Staring Jun 1, 2024, FMC Canada will be the exclusive distributor of Novonesis' leading biosolution products for the 2025 growing season, including established brands such as TagTeam, Optimize, JumpStart, BioniQ, Cell-Tech, and Nitragin. Furthermore, the companies will pool their separate R&D resources to work on the development of breakthrough biological technology for Canadian farmers.
The partnership will take advantage of Novonesis' Plant Biosolutions Manufacturing and Research facility in Saskatoon, Canada, as well as FMC's extensive market knowledge and expertise in integrating biologicals with synthetic crop protection chemistry and precision agriculture technologies.
Over the past five years, FMC has released nearly 40 biological products in 24 countries, including Accudo biostimulant, Provilar biofungicide, and Avodigen seed treatment, making it one of the few companies with a complete global presence. FMC's geographic footprint, combined with its core portfolio, market access, and complementary technologies, positions the company as a leading global provider of integrated solutions to assist growers in feeding the world sustainably.
Shares of FMC have lost 46.9% over the past year compared with a 6.3% decline of its industry.
Image Source: Zacks Investment Research
FMC, in its fourth-quarter earnings call, said that it expects full-year 2024 revenues between $4.50 billion and $4.70 billion, indicating a 2.5% increase at the midpoint compared to 2023, mainly fueled by new product growth in the second half. Adjusted EBITDA is expected to be between $900 million and $1.05 billion, flat at the midpoint compared to the prior year, with headwinds in the first half offset by second-half tailwinds. Adjusted EPS is forecasted to be in the range of $3.23-$4.41 per share, up 1% year over year at the midpoint due to lower interest expense and D&A. Full-year free cash flow is anticipated to be in the range of $400 million-$600 million, driven by the rebuilding of payables and lower inventory.
Some better-ranked stocks in the basic materials space include Denison Mines Corporation (DNN - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Alpha Metallurgical Resources Inc. (AMR - Free Report) .
Denison Mines presently sports a Zacks Rank #1 (Strong Buy). DNN beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 300%. The company’s shares have soared 73.3% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Carpenter Technology currently flaunts a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, with the average earnings surprise being 12.2%. The company’s shares have rallied 44.6% in the past year.
The Zacks Consensus Estimate for AMR’s current-year earnings has been revised upward by 69% in the past 60 days. It currently carries a Zacks Rank #2 (Buy). AMR delivered a trailing four-quarter earnings surprise of roughly 24.8%, on average. AMR shares have surged 99.9% in a year.
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FMC Broadens Biologicals Crop Protection Platform in Canada
FMC Corporation (FMC - Free Report) established a partnership in Canada with Novonesis, a leader in plant biosolutions. The agreement is part of FMC's strategy to expand its biologicals platform in important markets.
Staring Jun 1, 2024, FMC Canada will be the exclusive distributor of Novonesis' leading biosolution products for the 2025 growing season, including established brands such as TagTeam, Optimize, JumpStart, BioniQ, Cell-Tech, and Nitragin. Furthermore, the companies will pool their separate R&D resources to work on the development of breakthrough biological technology for Canadian farmers.
The partnership will take advantage of Novonesis' Plant Biosolutions Manufacturing and Research facility in Saskatoon, Canada, as well as FMC's extensive market knowledge and expertise in integrating biologicals with synthetic crop protection chemistry and precision agriculture technologies.
Over the past five years, FMC has released nearly 40 biological products in 24 countries, including Accudo biostimulant, Provilar biofungicide, and Avodigen seed treatment, making it one of the few companies with a complete global presence. FMC's geographic footprint, combined with its core portfolio, market access, and complementary technologies, positions the company as a leading global provider of integrated solutions to assist growers in feeding the world sustainably.
Shares of FMC have lost 46.9% over the past year compared with a 6.3% decline of its industry.
Image Source: Zacks Investment Research
FMC, in its fourth-quarter earnings call, said that it expects full-year 2024 revenues between $4.50 billion and $4.70 billion, indicating a 2.5% increase at the midpoint compared to 2023, mainly fueled by new product growth in the second half. Adjusted EBITDA is expected to be between $900 million and $1.05 billion, flat at the midpoint compared to the prior year, with headwinds in the first half offset by second-half tailwinds. Adjusted EPS is forecasted to be in the range of $3.23-$4.41 per share, up 1% year over year at the midpoint due to lower interest expense and D&A. Full-year free cash flow is anticipated to be in the range of $400 million-$600 million, driven by the rebuilding of payables and lower inventory.
FMC Corporation Price and Consensus
FMC Corporation price-consensus-chart | FMC Corporation Quote
Zacks Rank & Key Picks
FMC currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space include Denison Mines Corporation (DNN - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Alpha Metallurgical Resources Inc. (AMR - Free Report) .
Denison Mines presently sports a Zacks Rank #1 (Strong Buy). DNN beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 300%. The company’s shares have soared 73.3% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Carpenter Technology currently flaunts a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, with the average earnings surprise being 12.2%. The company’s shares have rallied 44.6% in the past year.
The Zacks Consensus Estimate for AMR’s current-year earnings has been revised upward by 69% in the past 60 days. It currently carries a Zacks Rank #2 (Buy). AMR delivered a trailing four-quarter earnings surprise of roughly 24.8%, on average. AMR shares have surged 99.9% in a year.