Key Takeaways
- FMC Q4 2024 revenue of $1.22 billion, up 7% year-over-year (YoY), with organic growth of 12%.
- Adjusted EBITDA of $339 million, up 33% YoY, exceeding guidance midpoint.
- Adjusted earnings per diluted share of $1.79, marking a 67% increase compared to Q4 2023.
- Full-year 2024 revenue of $4.25 billion, down 5% YoY, with organic decline of 3%.
- Free cash flow of $614 million, an increase of $1.14 billion YoY.
- 2025 revenue outlook set between $4.15 billion and $4.35 billion, with a focus on cost savings and portfolio growth.
Fourth Quarter 2024 Financial Performance
FMC Corporation (NYSE: FMC) reported fourth quarter 2024 revenue of $1.22 billion, representing a 7% increase compared to the same quarter in 2023. The company’s organic revenue growth reached 12%, driven by volume increases across key markets. However, foreign exchange (FX) headwinds and pricing declines partially offset gains.
On a GAAP basis, the company posted a net loss of $16 million in Q4 2024, reflecting a 101% decline compared to Q4 2023. Adjusted earnings per diluted share rose 67% YoY to $1.79.
Pierre Brondeau, FMC Chairman and CEO, commented: “We delivered solid sales and strong year-on-year adjusted EBITDA growth in the quarter. While volume increased, customer inventory reductions in key markets and FX headwinds limited further growth. However, over 75% of our sales growth came from our growth portfolio, which, combined with continued cost discipline, allowed us to exceed our guidance midpoint for adjusted EBITDA.”
Regional Revenue Highlights:
- North America: Sales increased 23% YoY, driven by higher volumes.
- Latin America: Revenue declined 10%, but was up 2% excluding currency impact.
- Asia: Sales grew 10% YoY, or 13% excluding FX impacts.
- Europe, Middle East & Africa (EMEA): Revenue grew 18% YoY, or 21% excluding FX impacts.
- Plant Health Business: Sales improved by 33% YoY.
FMC Revenue Breakdown
Quarter | Total Revenue Change (GAAP) | FX Impact | Organic Revenue Change (Non-GAAP) |
---|---|---|---|
Q4 2024 | +7% | -5% | +12% |
Full Year 2024 | -5% | -2% | -3% |
FMC Full-Year 2024 Performance
For the full year 2024, FMC reported:
- Revenue of $4.25 billion, a 5% decrease YoY.
- Adjusted EBITDA of $903 million, down 8% YoY.
- Adjusted earnings per diluted share of $3.48, down 8% YoY.
- Free cash flow of $614 million, an increase of $1.14 billion YoY.
Volume growth of 3% was driven by new active ingredients, particularly Isoflexâ„¢ and fluindapyr, which together generated sales of nearly $130 million.
On a GAAP basis, the company reported net income of $342 million, a 74% decrease YoY, primarily due to tax benefits recorded in 2023 that were not repeated in 2024.
FMC Full-Year 2025 Outlook
FMC expects 2025 revenue between $4.15 billion and $4.35 billion, which is essentially flat at the midpoint. However, growth is forecasted at 3% when adjusting for the divestiture of the Global Specialty Solutions (GSS) business.
Key Projections:
- Adjusted EBITDA: $870 million – $950 million (1% increase YoY at the midpoint; 4% increase excluding GSS divestiture impact).
- Adjusted earnings per diluted share: $3.26 – $3.70 (flat to prior year at the midpoint).
- COGS tailwinds of $175 million to $200 million, benefiting from raw material deflation, fixed cost absorption, and restructuring actions.
- Free cash flow: $200 million – $400 million (decline of 51% at midpoint due to normalization after outsized 2024 recovery).
First Quarter 2025 Outlook
FMC forecasts Q1 2025 revenue between $750 million and $800 million, representing a 16% decline at the midpoint compared to Q1 2024. This decline is attributed to:
- Continued inventory reductions by customers.
- Lower commodity prices impacting purchasing behavior.
- Mid-to-high single-digit price reductions, particularly from contract adjustments with diamide partners.
- FX headwinds in the mid-single digits.
Q1 2025 Financial Guidance
Metric | Expected Range | Change vs. Q1 2024 |
Revenue | $750M – $800M | -16% |
Adjusted EBITDA | $105M – $125M | -28% |
Adjusted EPS | $0.05 – $0.15 | -72% |
FMC remains committed to disciplined cost management and expects lower costs in COGS to partially offset pricing and FX challenges.
Read the entire financial results here.
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