FMC Corporation Reports Q1 2026 Revenue of $759 Million as Rynaxypyr® Post-Patent Pricing and India Divestiture Weigh on Adjusted EBITDA

Key Takeaways

• FMC Corporation (NYSE: FMC) reported Q1 2026 revenue of $759 million (GAAP), down 4% year-over-year; excluding the India business held for sale, revenue was $762 million, also down 4%, with a like-for-like change of +1% when adjusting for the 5% India headwind.
• Adjusted EBITDA fell 40% to $72 million, driven by a 6% price decline — primarily lower pricing to diamide partners and branded Rynaxypyr® products — and unfavorable costs from tariffs and raw materials, partially offset by a 5% foreign currency tailwind and 2% volume growth.
• GAAP net loss was $2.25 per diluted share, a deterioration of $2.13 versus Q1 2025, primarily due to tax charges related to increased valuation allowances; adjusted loss per diluted share was $0.23, down $0.41 versus the prior year.
• New active ingredient sales doubled year-over-year in Q1 2026, and Plant Health revenues grew 6%; EMEA was the strongest performing region, with revenue up 13% to $307 million, while Latin America declined 14% to $177 million on competitive legacy product pricing.
• FMC reaffirmed its full-year 2026 guidance: revenue of $3.60–$3.80 billion, Adjusted EBITDA of $670–$730 million, and Adjusted EPS of $1.63–$1.89, with new active ingredient sales projected at $300–$400 million, representing growth of over 75% at the midpoint versus prior year.

FMC Posts Q1 2026 Revenue of $759 Million, Adjusted EBITDA Down 40%

FMC Corporation (NYSE: FMC) reported Q1 2026 revenue of $759 million on a GAAP basis, down 4% from $791 million in Q1 2025. Excluding the India business currently classified as held for sale, revenue was $762 million — above the midpoint of guidance and down 4% from the prior year, which included India. On a like-for-like basis, adjusting for the 5% India headwind, revenue grew 1% year-over-year. Price declined 6%, driven by lower pricing to diamide partners, pricing actions on branded Rynaxypyr® products, and competitive pressure on legacy core products, particularly in Latin America. Foreign currency provided a 5% tailwind, and volume improved 2%, with strength in EMEA and North America. New active ingredient sales doubled year-over-year, and Plant Health revenues grew 6%.

Adjusted EBITDA was $72 million, a decrease of 40% from the prior-year period. The decline was driven by lower pricing and unfavorable input costs, including the impact of tariffs and raw material cost increases. GAAP net loss widened to $2.25 per diluted share, primarily due to tax charges related to an increase in valuation allowances, as well as lower sales, higher restructuring costs, and higher interest expense. Cash from operations was negative $601 million and free cash flow was negative $628 million.

EMEA and North America Offset Latin America Declines in Q1

EMEA was the top-performing region in Q1 2026, with revenue increasing to $307 million from $273 million in Q1 2025, a gain of 13%. North America grew to $198 million from $186 million. Latin America declined to $177 million from $207 million, reflecting competitive pricing conditions for legacy core products. Asia revenue (excluding India) was $81 million, compared to $125 million in Q1 2025 when India was included in the Asia segment. The India business contributed negative $4 million in Q1 2026 as it moves through the divestiture process.

FMC Advances New Active Ingredients Amid Post-Patent Rynaxypyr® Transition

FMC is executing against four 2026 operational priorities: reducing debt by approximately $1 billion, improving the competitiveness of its core portfolio, managing the post-patent transition for Rynaxypyr® active, and accelerating the growth of new active ingredients including Isoflex® active, fluindapyr, and Dodhylex® active. The company stated that a Board-authorized evaluation of strategic alternatives, announced in February 2026, is progressing with multiple options under review. FMC noted it does not intend to comment further on the strategic alternatives process at this time.

Full-Year 2026 Guidance Reaffirmed; H2 Recovery Expected

FMC reaffirmed its full-year 2026 guidance across all metrics. Revenue excluding India is projected at $3.60–$3.80 billion, a decline of 5% at the midpoint. Adjusted EBITDA is expected at $670–$730 million (-17% at midpoint) and Adjusted EPS at $1.63–$1.89 (-41%). New active ingredient sales are projected at $300–$400 million, representing over 75% growth at the midpoint versus prior year. For Q2 2026, the company guided revenue of $850–$900 million and Adjusted EBITDA of $130–$150 million. The implied second-half revenue outlook reflects a 1% increase versus the prior year, with volume growth from new active ingredients expected to more than offset continued pricing headwinds.

FMC Corporation Q1 2026 Financial Summary

The following table summarizes FMC’s Q1 2026 results by region and key financial metrics.

Read the company's financials here.