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May 6, 2025 Source: FMC news release PHILADELPHIA - FMC Corporation (NYSE:FMC) today reported first quarter 2025 revenue of $791 million, down 14 percent versus first quarter 2024, and down 10 percent organically. On a GAAP basis, the company reported a loss of $0.12 per diluted share in the first quarter, a decrease of 10 cents versus first quarter 2024. First quarter adjusted earnings were $0.18 per diluted share, down 50 percent versus first quarter 2024. "First quarter sales were largely in line with our expectations," said Pierre Brondeau, FMC chairman and chief executive officer. Our strong focus on increasing product-on-the-ground3 while controlling sales into the channel allowed us to decrease the level of FMC inventory at our distribution partners and more closely align with customer targets in most countries. A continued prudent approach through Q2 will position us to deliver substantial growth in the second half." Lower first quarter revenue was driven by a price decline of 9 percent, over half of which was attributed to price adjustments in certain "cost-plus" contracts with specific diamide partners as a result of lower manufacturing costs. Foreign currency was a headwind of 4 percent. Volume declined 1 percent versus a weak prior year. Sales in North America declined 28 percent, attributed mainly to lower volumes as customers in the U.S. delayed purchases as expected and was compounded by international trade dynamics. Latin America sales grew 10 percent, 17 percent excluding currency impacts. Volume improved due to increased direct sales to cotton growers in Brazil, in addition to product-on-the-ground significantly outpacing FMC sales into the channel. In Asia, first quarter revenue was lower by 24 percent, down 21 percent excluding FX. Lower volumes were driven by prudent selling to enable channel destocking. EMEA sales declined 11 percent, 7 percent excluding currency impacts, due to lower volumes, including the expected loss of registration for triflusulfuron. The Plant Health business outperformed the overall portfolio with sales growth of 1 percent, driven by growth in biologicals. To read the entire report click here. Tweet |
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