FMC Reports Significant Third Quarter Losses Driven by Pricing Restructuring and Inventory Adjustments
FMC Corporation (FMC) reported a difficult third quarter for 2026, characterized by a massive revenue drop to $106 million. The company faced significant headwinds due to a $500 million North American pricing restructuring charge and a $175 million channel inventory adjustment across the Americas. These commercial actions, combined with noncash charges related to model transitions and asset impairments, resulted in an adjusted EBITDA of negative $559 million and an adjusted EPS of negative $4.41. Management cited challenging market conditions, including strained grower margins, high financing costs leading to low customer inventory levels, and intense competition. Despite the current volatility, FMC is undergoing strategic shifts, including a divestiture of its India business to Crystal Crop Protection Limited and receiving an equity investment from Tessenderlo Group. The company expects a financial inflection point in 2027 driven by new active ingredient launches.