FMC Corporation shares plunge following sharp Q3 outlook cut

FMC Corporation has significantly lowered its third-quarter 2026 financial outlook, leading to a stock price decline of more than 30%. The crop-protection company now expects revenue between $65 million and $125 million for the quarter ended September 30, a sharp reduction from previous projections of $840 million to $900 million.

The company anticipates an adjusted EBITDA loss of $510 million to $565 million, compared to a previously forecasted profit of $120 million to $140 million. These results are driven by estimated commercial adjustments totaling $625 million to $675 million. These charges stem from price reductions for specific products in Brazil, Argentina, the United States, and Canada, as well as adjustments to the U.S. sales and pricing model.

Management cited weak demand and the burden of expensive inventory held by distributors as primary factors. In response to the revised outlook, Jefferies downgraded the stock from ‘Buy’ to ‘Hold’ and lowered its price target from $14 to $5. FMC is also assessing potential intangible-asset impairments and plans to discuss debt covenant modifications with banks.