A month has gone by since the last earnings report for FMC (FMC Quick QuoteFMC - Free Report) . Shares have added about 0.7% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is FMC due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for FMC Corporation before we dive into how investors and analysts have reacted as of late.

FMC's Earnings Surpass Estimates in Q2 on Higher Volumes

FMC reported earnings of 53 cents per share for second-quarter 2025, down from $2.35 in the year-ago quarter.

Barring one-time items, adjusted earnings per share were 69 cents, beating the Zacks Consensus Estimate of 59 cents.

Revenues were roughly $1.05 billion in the quarter, up around 1.2% from the year-ago quarter’s levels. The top line surpassed the Zacks Consensus Estimate of $965.4 million.

Second-quarter revenues increased primarily due to a 6% rise in volume, as customers in most countries seemed to have reached their desired inventory levels for FMC products. Prices fell 3%, with more than half of the decline linked to price reductions in specific "cost-plus" contracts with certain diamide partners, reflecting lower manufacturing costs. Foreign exchange rates negatively impacted results by 1%. Sales from the company’s growth portfolio rose by a high single-digit percentage, while sales from the core portfolio remained largely unchanged.

Regional Sales Performance

In North America, sales declined 5% year over year to $321 million in the quarter. Sales in North America decreased, as strong growth in branded products in the United States was outweighed by reduced volumes in Canada due to anticipated inventory destocking. It topped the consensus estimate of $294.1 million.

Latin American sales saw a 1% year-over-year increase to $310 million in the reported quarter. Sales in Latin America benefited from the strong growth of the new active ingredients, fluindapyr and Isoflex active. It beat the consensus estimate of $296.1 million.

In Asia, revenues declined 17% from the previous year to $159 million. Sales in Asia declined due to lower pricing as well as reduced volume driven by ongoing destocking activity in India. It missed the consensus estimate of $163.7 million.

EMEA experienced a 29% year-over-year sales increase to $260 million in the reported quarter. The growth was fueled by significant volume increases, especially in herbicides, products from diamide partners and branded Cyazypyr offerings. The Plant Health segment also expanded, supported by growth in biological products. It beat the consensus estimate of $223.6 million.

Financials

The company had cash and cash equivalents of $438.2 million at the end of the quarter. Long-term debt was roughly $3.27 billion.

Guidance

FMC expects full-year revenues (excluding India) to range between $4.08 billion and $4.28 billion, implying a 2% decline at the midpoint compared to 2024. Adjusted EBITDA is forecasted between $870 million and $950 million, indicating 1% growth at the midpoint. Adjusted earnings per share (EPS) are projected to be $3.26 to $3.70, indicating a year-over-year no change at the midpoint.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed a upward trend in fresh estimates.

VGM Scores

Currently, FMC has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Charting a somewhat similar path, the stock has a grade of B on the value side, putting it in the top 40% for value investors.

Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, FMC has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.