FMC Corporation has updated its financial outlook for the third quarter of 2026, citing weaker-than-expected demand driven by challenging market conditions and elevated inventory levels held by channel customers. The company now anticipates third-quarter revenue between $65 million and $125 million. Adjusted EBITDA is expected to be negative $565 million to negative $510 million for the period.
The revised guidance includes an estimated impact of $625 million to $675 million related to commercial actions. These actions are designed to lower the price of select products held by channel customers in key markets, including Brazil, Argentina, the United States, and Canada. Additionally, FMC plans to modify its selling and pricing model in the United States to significantly reduce the gap between gross and net pricing.
Chairman, Chief Executive Officer, and President Pierre Brondeau stated that the commercial actions are necessary to address slower-than-expected demand and to accelerate the movement of products through the channel to growers. The company believes these measures will support future replenishment demand and improve overall competitiveness.
FMC indicated that it expects to be in compliance with covenants as of September 30, 2026. However, the company plans to engage in discussions with its bank group regarding potential modifications to its covenants over the next year to provide greater flexibility as the commercial actions are implemented. The company will report third-quarter earnings on October 29, 2026, and share preliminary expectations for 2027 and 2028 on October 30, 2026.
