July 31 (Reuters) - Agrichemicals firm FMC beat

Wall Street estimates for quarterly profit on Wednesday, aided

by a revamp to rein in costs and strong sales volumes in key

markets U.S. and Brazil.

Shares rose 5.6% after the bell.

FMC took a slew of actions as part of its restructuring plan

last year including layoffs in its Brazil business. It also said

it would sell its global specialty solutions business to private

equity firm-owned Envu for $350 million.

Demand for crop protection products is showing signs of

improvement in North America following a downturn in 2023 as

herbicide and pesticide inventories remained low.

FMC said second-quarter revenue growth of 2% was driven by

14% increase in volume.

The Philadelphia-based company posted adjusted income of 63

cents per share for the three months ended June 30, compared

with analysts' average estimate of 55 cents, according to LSEG

data.

However, FMC lowered its 2024 revenue outlook to the range

of $4.30 billion to $4.50 billion, from $4.50 billion to $4.70

billion, projected earlier as it expects to see pricing

pressure. Rival Corteva ( CTVA ) had also trimmed its sales

estimates earlier in the day.

Crop prices have declined this year amid improvement in

global supplies and forced farmers to tighten their spending.