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FMC Corporation (NYSE: FMC) is a global leader in agricultural sciences, delivering innovative crop protection solutions and precision agriculture technologies. This dedicated news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and scientific advancements shaping modern farming practices.
Access authoritative information directly from FMC's press releases and verified news sources, including quarterly earnings reports, product launch announcements, strategic partnerships, and sustainability initiatives. Our curated feed ensures you stay informed about regulatory milestones, R&D breakthroughs, and market expansion activities critical to understanding FMC's position in the agricultural sector.
Key updates cover advancements in biological crop protection, digital farming tools, and regional market strategies. Bookmark this page for streamlined access to essential information driving FMC's mission to enhance global food production through science-led solutions.
FMC (NYSE: FMC) has submitted regulatory applications for Dodhylex™ active herbicide in eight major rice-growing countries, covering 35% of global rice acreage. Dodhylex™ active, classified as a Group 28 herbicide, is the first new mode of action herbicide in over 30 years. It offers season-long control of resistant grass weeds in rice and is being researched for use in other crops. FMC expects to launch Dodhylex™ active in 2026, pending regulatory approvals. This innovation demonstrates FMC's commitment to combating herbicide resistance and supporting food security.
FMC reported Q2 2024 revenue of $1.04 billion, up 2% from Q2 2023 and 4% organically. Adjusted EBITDA rose 8% to $202 million, while adjusted EPS increased 26% to $0.63. The company updated its full-year 2024 outlook, projecting revenue of $4.30-$4.50 billion (2% decline at midpoint) and adjusted EBITDA of $880-$940 million (7% decline at midpoint). FMC expects stronger performance in H2 2024, with revenue forecasted to grow 15% and adjusted EBITDA to increase 28% compared to H2 2023. The company cited improved demand and volume growth, particularly in the U.S. and Brazil, as key drivers for Q2 performance.
FMC (NYSE: FMC) has announced a regular quarterly dividend of 58 cents per share. This dividend will be payable on October 17, 2024, to shareholders of record at the close of business on September 30, 2024. The declaration of this dividend by the board of directors demonstrates FMC's commitment to returning value to its shareholders and maintaining a consistent dividend policy.
FMC (NYSE: FMC) has elected John M. Raines to its Board of Directors, effective July 15, 2024. Raines, with over 30 years of experience in agriculture and consumer goods, will serve on the Audit and Sustainability Committees. He recently served as president of Digital Agriculture and Consumer Goods at TELUS from 2021 to 2024. Raines has held leadership positions at The Climate and Monsanto Company, and is currently the president of Paris Bancshares, Inc. His expertise in global agriculture, food businesses, M&A transactions, and implementation of modern technology in agriculture is expected to bring valuable insights to FMC's board.
FMC has agreed to sell its Global Specialty Solutions (GSS) business to Envu for $350 million, subject to closing adjustments. The transaction is expected to be completed by the end of 2024, pending regulatory approval. FMC intends to use the proceeds for debt reduction. This divestment allows FMC to focus on its core crop protection market. Envu, backed by private equity firm Cinven, sees the acquisition as a strategic fit to boost innovation and growth in the environmental science sector.
FMC (NYSE: FMC) has scheduled the release of its second quarter 2024 earnings results for Wednesday, July 31, 2024, after the market closes. The detailed financial results and further information will be available via PR Newswire and the company's investor relations website.
Following the earnings release, FMC will host a webcast conference call on Thursday, August 1, 2024, at 9:00 a.m. ET. The call is accessible to the public via internet broadcast and telephone. A replay of the call will be available from 11:00 a.m. ET on August 1, 2024, until August 22, 2024, through the company's website and designated telephone numbers.
FMC 's Board of Directors has appointed Pierre Brondeau as chairman and CEO, succeeding Mark Douglas who steps down after 14 years. Brondeau previously served as CEO from 2010-2020, overseeing significant growth and a 325% total shareholder return. Ronaldo Pereira has been promoted to president, previously serving as EVP and president of the Americas region. The company reaffirms its Q2 2024 revenue and earnings guidance. Douglas will act as an executive advisor until September. FMC aims to continue its growth in the agricultural sciences sector under Brondeau and Pereira's leadership.
FMC has received Brazilian registration for two new herbicides, Azugro® and Ezanya®.
These herbicides, powered by Isoflex® active (bixlozone), target cotton, tobacco, and wheat crops. Classified as Group 13 by the Herbicide Resistance Action Committee, these formulations offer effective weed control, particularly for resistant grasses and broadleaf weeds.
Azugro® will be available for cotton in 2024 and wheat in 2025, while Ezanya® will target tobacco in 2024. FMC is also researching Isoflex® active in other crops and segments in Brazil.
This approval adds to FMC’s regulatory successes in Argentina, Australia, and China, potentially enhancing productivity and resilience for growers worldwide.
FMC , a global agricultural sciences leader, released its 2023 sustainability report, 'From the Ground Up,' on May 23, 2024. The report emphasizes FMC's advancements in environmental goals, sustainable product innovation, and community engagement. Key highlights include the first publication of FMC's Climate Transition Plan, aiming for net-zero greenhouse gas emissions by 2035. Significant 2023 achievements include a reduction of absolute Scopes 1 and 2 emissions by 18% and Scope 3 emissions by 27%, and increasing global waste to beneficial reuse to 75%. The report also underscores the importance of climate resilience, water use efficiency, and biodiversity protection in its crop protection solutions.
FMC has announced a new collaboration with Optibrium, a developer of AI solutions for small molecule discovery, to boost its crop protection R&D. This partnership aims to accelerate the discovery of novel crop protection technologies by incorporating Optibrium's AI technologies, including Cerella™ and StarDrop™. FMC plans to use these tools to identify promising compounds and optimize their properties, focusing on sustainable products. This initiative aligns with FMC's broader strategic plan to enhance its pipeline and bring new solutions to growers more quickly. The partnership is expected to revolutionize sustainable agriculture and improve global food security.
