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FMC Q1 Earnings Beat Estimates on Volume Gains and FX Tailwind
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Key Takeaways
FMC Q1 revenues fell 4% to $759M but topped estimates; adjusted loss of 23 cents beat forecasts.
FMC saw sales growth in North America and EMEA, while Latin America and Asia ex-India declined.
FMC reaffirmed 2026 outlook and sees Q2 revenues excluding India of $850M-$900M.
FMC Corporation (FMC - Free Report) reported a first-quarter 2026 adjusted loss per share of 23 cents. This compares unfavorably to the year-ago quarter’s adjusted earnings per share of 18 cents. The result was narrower than the Zacks Consensus Estimate of a loss of 39 cents.
Quarterly revenues of $759 million declined 4% year over year but topped the consensus estimate of $721.8 million by 5.2%. Performance reflected favorable currency and stronger demand in select markets, partly offset by pricing pressure and partner-related volume headwinds. New active ingredient sales doubled year over year.
Profitability also declined as lower pricing and higher costs more than offset benefits from volume and currency. Tariffs and unfavorable raw material costs were the key cost headwinds, while lower R&D expenses provided some relief. The decline was also driven by tax charges related to higher valuation allowances, along with lower sales, higher restructuring costs and higher interest expense.
North America sales increased 6% year over year to $198 million. FMC attributed the gain to high-teens sales growth for branded products led by herbicides, alongside solid growth in Plant Health and strong Cyazypyr performance. Sales topped the consensus estimate of $185.1 million.
EMEA revenues rose 13% to $307 million on solid branded volume growth led by herbicides and Cyazypyr. Branded pricing was similar to the year-ago quarter, while registration losses were in line with expectations and represented an estimated 5% headwind. It outpaced the consensus estimate of $282.4 million.
Latin America revenues fell 14% to $177 million. FMC cited lower branded volumes mainly for core portfolio products and a competitive market for core products that pressured branded pricing, though higher growth-portfolio sales led by Cyazypyr and new actives provided a partial offset. It missed the consensus estimate of $178.7 million.
Asia revenues, excluding India, declined 36% year over year to $81 million. The company pointed to lower branded pricing in line with expectations and weaker insecticide volumes amid challenged grower economics tied to geopolitical uncertainty, partially offset by strong Cyazypyr growth. It beat the consensus estimate of $72.4 million.
FMC’s Financials
The company had cash and cash equivalents of $390.9 million at the end of the quarter. Long-term debt was $2,770.6 million.
FMC’s FY2026 and Q2 Outlook
FMC reaffirmed its full-year 2026 outlook, calling for revenue excluding India of $3.60 billion to $3.80 billion and adjusted EBITDA of $670 million to $730 million. Adjusted earnings per diluted share are still expected in the $1.63-$1.89 range, while free cash flow is projected between negative $65 million and positive $65 million.
The company’s full-year framework assumes interest expense of $255-$275 million and an adjusted tax rate of 16-18%, with depreciation and amortization of $160-$170 million. Capital additions and other investing activities are projected at $90-$110 million. FMC also expects the India contribution loss in 2026 to be roughly $90 million of revenue and $0 million of EBITDA.
For the second quarter, FMC expects revenue excluding India of $850 million to $900 million, with adjusted EBITDA of $130 million to $150 million and adjusted earnings per diluted share of 16-26 cents. The company expects year-over-year pressure to be driven largely by reduced orders from diamide partners and the removal of India from the reported base period.
FMC’s Price Performance
Shares of FMC have lost 61.9% in the past year compared with the industry’s 21.7% rise.
Image Source: Zacks Investment Research
FMC’s Zacks Rank & Key Picks
FMC currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are CF Industries Holdings, Inc. (CF - Free Report) , Compass Minerals International, Inc. (CMP - Free Report) and Aris Mining Corporation (ARIS - Free Report) .
CF Industries is slated to report first-quarter 2026 results on May 6. The Zacks Consensus Estimate for earnings is pegged at $2.35 per share, indicating 27.03% year-over-year growth. CF sports a Zacks Rank #1 (Strong Buy) at present. You can seethe complete list of today’s Zacks #1 Rank stocks here.
Compass Mineral is slated to report second-quarter fiscal 2026 results on May 6. The consensus estimate for CMP’s earnings per share is pegged at 66 cents. CMP presently carries a Zacks Rank #1.
Aris is scheduled to report first-quarter 2026 results on May 6. The Zacks Consensus Estimate for ARIS’s first-quarter earnings per share is pegged at 77 cents, indicating 381.25% year-over-year growth. ARIS carries a Zacks Rank #2 (Buy) at present.
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FMC Q1 Earnings Beat Estimates on Volume Gains and FX Tailwind
Key Takeaways
FMC Corporation (FMC - Free Report) reported a first-quarter 2026 adjusted loss per share of 23 cents. This compares unfavorably to the year-ago quarter’s adjusted earnings per share of 18 cents. The result was narrower than the Zacks Consensus Estimate of a loss of 39 cents.
Quarterly revenues of $759 million declined 4% year over year but topped the consensus estimate of $721.8 million by 5.2%. Performance reflected favorable currency and stronger demand in select markets, partly offset by pricing pressure and partner-related volume headwinds. New active ingredient sales doubled year over year.
Profitability also declined as lower pricing and higher costs more than offset benefits from volume and currency. Tariffs and unfavorable raw material costs were the key cost headwinds, while lower R&D expenses provided some relief. The decline was also driven by tax charges related to higher valuation allowances, along with lower sales, higher restructuring costs and higher interest expense.
FMC Corporation Price, Consensus and EPS Surprise
FMC Corporation price-consensus-eps-surprise-chart | FMC Corporation Quote
FMC’s Regional Sales Performance
North America sales increased 6% year over year to $198 million. FMC attributed the gain to high-teens sales growth for branded products led by herbicides, alongside solid growth in Plant Health and strong Cyazypyr performance. Sales topped the consensus estimate of $185.1 million.
EMEA revenues rose 13% to $307 million on solid branded volume growth led by herbicides and Cyazypyr. Branded pricing was similar to the year-ago quarter, while registration losses were in line with expectations and represented an estimated 5% headwind. It outpaced the consensus estimate of $282.4 million.
Latin America revenues fell 14% to $177 million. FMC cited lower branded volumes mainly for core portfolio products and a competitive market for core products that pressured branded pricing, though higher growth-portfolio sales led by Cyazypyr and new actives provided a partial offset. It missed the consensus estimate of $178.7 million.
Asia revenues, excluding India, declined 36% year over year to $81 million. The company pointed to lower branded pricing in line with expectations and weaker insecticide volumes amid challenged grower economics tied to geopolitical uncertainty, partially offset by strong Cyazypyr growth. It beat the consensus estimate of $72.4 million.
FMC’s Financials
The company had cash and cash equivalents of $390.9 million at the end of the quarter. Long-term debt was $2,770.6 million.
FMC’s FY2026 and Q2 Outlook
FMC reaffirmed its full-year 2026 outlook, calling for revenue excluding India of $3.60 billion to $3.80 billion and adjusted EBITDA of $670 million to $730 million. Adjusted earnings per diluted share are still expected in the $1.63-$1.89 range, while free cash flow is projected between negative $65 million and positive $65 million.
The company’s full-year framework assumes interest expense of $255-$275 million and an adjusted tax rate of 16-18%, with depreciation and amortization of $160-$170 million. Capital additions and other investing activities are projected at $90-$110 million. FMC also expects the India contribution loss in 2026 to be roughly $90 million of revenue and $0 million of EBITDA.
For the second quarter, FMC expects revenue excluding India of $850 million to $900 million, with adjusted EBITDA of $130 million to $150 million and adjusted earnings per diluted share of 16-26 cents. The company expects year-over-year pressure to be driven largely by reduced orders from diamide partners and the removal of India from the reported base period.
FMC’s Price Performance
Shares of FMC have lost 61.9% in the past year compared with the industry’s 21.7% rise.
Image Source: Zacks Investment Research
FMC’s Zacks Rank & Key Picks
FMC currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are CF Industries Holdings, Inc. (CF - Free Report) , Compass Minerals International, Inc. (CMP - Free Report) and Aris Mining Corporation (ARIS - Free Report) .
CF Industries is slated to report first-quarter 2026 results on May 6. The Zacks Consensus Estimate for earnings is pegged at $2.35 per share, indicating 27.03% year-over-year growth. CF sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Compass Mineral is slated to report second-quarter fiscal 2026 results on May 6. The consensus estimate for CMP’s earnings per share is pegged at 66 cents. CMP presently carries a Zacks Rank #1.
Aris is scheduled to report first-quarter 2026 results on May 6. The Zacks Consensus Estimate for ARIS’s first-quarter earnings per share is pegged at 77 cents, indicating 381.25% year-over-year growth. ARIS carries a Zacks Rank #2 (Buy) at present.