Overview

* FMC Q3 revenue declines 49% yr/yr, missing analyst expectations, per LSEG data

* Adjusted EPS for Q3 beats analyst expectations, rising 30% yr/yr

* Company reduces quarterly dividend to $0.08 per share to prioritize debt reduction

Outlook

* FMC lowers full-year revenue outlook to $3.92 bln to $4.02 bln

* Company expects Q4 revenue, excluding India, to be $1.12 bln to $1.22 bln

* FMC forecasts Q4 adjusted EPS to be $1.14 to $1.36

Result Drivers

* INDIA ACTIONS - Significant one-time commercial actions in India led to a 49% revenue decline, positioning the business for sale

* COMPETITIVE PRESSURE - Increased generic competition in Latin America and Asia led to lower pricing and volume

* NEW ACTIVE INGREDIENTS - New active ingredients nearly doubled in Q3, contributing positively to growth portfolio

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $542 mln $1.07

Revenue bln (14

Analysts

)

Q3 Beat $0.89 $0.87

Adjusted (17

EPS Analysts

)

Q3 Net -$569

Income mln

Q3 Beat $236 mln $230.30

Adjusted mln (13

EBITDA Analysts

)

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 9 "strong buy" or "buy", 11 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the agricultural chemicals peer group is "buy."

* Wall Street's median 12-month price target for FMC Corp ( FMC ) is $41.50, about 26.4% above its October 28 closing price of $30.54

* The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)