Key Takeaways
- FMC Corporation’s Q2 2025 revenue reached $1.05B, up 1% YoY; organic growth was 2%.
- GAAP net income declined 77% due to prior-year tax incentives; adjusted EPS rose 10% to $0.69.
- EMEA delivered strong growth; Asia and North America saw volume-related declines.
- FMC will divest its India commercial business but continue manufacturing and supply agreements in the region.
- Full-year 2025 guidance reaffirmed, excluding India: adjusted EBITDA $870M–$950M; adjusted EPS $3.26–$3.70.
FMC Reports Modest Growth in Q2 2025 Amid Portfolio Shifts
FMC Corporation (NYSE:FMC) announced second quarter 2025 earnings, posting revenue of $1.05 billion—a 1% increase year-over-year and 2% organic growth. The growth was driven by a 6% increase in volume, offset by a 3% price decline and a 1% foreign exchange headwind.
GAAP net income fell to $0.53 per diluted share, a 77% decline due to tax-related gains recorded in the prior year. Adjusted earnings per share rose 10% to $0.69, supported by higher EBITDA and lower interest expenses.
Regional Performance Overview
- North America: Sales declined 5%, impacted by expected inventory destocking in Canada.
- Latin America: Sales rose 1% (5% organically), led by new actives like Isoflex™.
- Asia: Sales decreased 17% (15% organically) amid pricing pressure and lower volumes in India.
- EMEA: Posted 29% sales growth (27% organically), with strong demand for herbicides and branded Cyazypyr® products.
- Plant Health: Delivered 3% growth, led by gains in biologicals.
Strategic Exit from India Commercial Market
FMC’s Board of Directors approved the divestment of its commercial operations in India, citing persistent market challenges. However, the company will maintain its active ingredient manufacturing presence in India and supply patented technologies to the buyer. “We remain committed to the Indian market through supply partnerships while focusing our resources on more strategic markets,” the company stated.
From Q3 onward, revenue from India will still be reported, but its earnings will be excluded from adjusted EBITDA and EPS. Guidance metrics will exclude India to reflect the company’s forward-looking strategy.
Financial Summary Table (Q2 2025 vs. Q2 2024)
| Metric | Q2 2025 | Q2 2024 | Change |
|---|---|---|---|
| Revenue (GAAP) | $1.05B | $1.04B | +1% |
| Organic Revenue Growth | — | — | +2% (Non-GAAP) |
| GAAP Net Income per Diluted Share | $0.53 | $2.29 | -77% |
| Adjusted EPS | $0.69 | $0.63 | +10% |
| Adjusted EBITDA | $207M | $203M | +2% |
| Cash from Operations | $66M | $292M | -77% |
| Free Cash Flow | $40M | $281M | -86% |
FMC’s Outlook for FY 2025 (Excluding India)
FMC reaffirmed its full-year 2025 outlook, excluding India revenue:
| Metric | Full-Year Forecast (Excl. India) | Growth vs. 2024 |
|---|---|---|
| Revenue | $4.08B – $4.28B | -2% at midpoint |
| Adjusted EBITDA | $870M – $950M | +1% at midpoint |
| Adjusted EPS | $3.26 – $3.70 | Flat at midpoint |
“We expect second-half earnings growth to be driven by volume gains, manufacturing cost tailwinds, and strategic new product launches,” the company noted.
Third-quarter and fourth-quarter forecasts anticipate contrasting dynamics—with Q3 EPS expected to grow 28% at the midpoint, while Q4 EPS may slightly decline due to an unusually low tax rate in the prior year.
FMC Obtains Registration In Great Britain for Fundatis® Herbicide
FMC Corporation also has announced that Fundatis® herbicide powered by Isoflex® active has received regulatory approval in Great Britain. The product is registered for use in winter wheat and winter barley, offering a new tool for growers facing challenges related to herbicide resistance. Fundatis® combines FMC’s proprietary molecule Isoflex® active with beflubutamid, introducing two active ingredients previously unavailable to the British market.
Commenting on the announcement, Sebastià Pons, FMC’s Vice President and President of the EMEA region, stated, “This registration underscores FMC’s commitment and dedication to bringing innovative crop protection technologies to growers. By providing growers with solutions to overcome resistance challenges, they are empowered to enhance their farming practices and achieve greater success.”
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