Key Takeaways:
- Revenue totaled $542 million, down 49 percent year over year, driven by one-time actions in India ahead of a business sale.
- Excluding India, revenue reached $961 million, down 10 percent versus Q3 2024; organic revenue declined 11 percent.
- Adjusted EBITDA rose 17 percent to $236 million; adjusted EPS increased 30 percent to $0.89.
- FMC recorded a net loss of $569 million due to India-related charges and write-downs.
- The company lowered full-year guidance and reduced its quarterly dividend to $0.08 per share to prioritize debt reduction.
Third Quarter Financial Overview
FMC Corporation reported third quarter 2025 revenue of $542 million, down 49 percent compared to the same period in 2024, primarily due to commercial adjustments taken in India to prepare the business for sale. Excluding India, revenue totaled $961 million, representing a 10 percent decline, while organic revenue fell 11 percent.
The company posted a GAAP net loss of $569 million, or $4.52 per diluted share, mainly reflecting India-related charges and impairments. Adjusted earnings were $0.89 per diluted share, a 30 percent increase over the prior year, supported by higher adjusted EBITDA of $236 million, up 17 percent year over year.
Despite overall lower revenue, cost efficiencies and improved performance from new products helped offset pricing pressure and volume challenges, particularly in Latin America and Asia.
Regional Performance
In North America, revenue increased 4 percent year over year, supported by higher volume from branded products such as Rynaxypyr active. Latin America sales declined 8 percent, with competitive pricing and liquidity challenges in Brazil and Argentina impacting performance.
Asia sales, excluding India, dropped 47 percent, reflecting both the removal of India and increased generic competition. In EMEA, revenue rose 11 percent, driven by volume growth and the recent launch of Isoflex active in Great Britain.
India Business Sale and Write-Down
FMC’s decision to divest its India commercial operations led to significant accounting adjustments during the quarter. The business, previously valued at approximately $960 million, was written down to an estimated fair value of $450 million.
This valuation change resulted in approximately $510 million in charges, including $282 million in pre-sale commercial adjustments and $227 million in impairment. These steps aimed to align the business for sale and mitigate risks related to receivables, inventory, and local taxation.
Outlook and Guidance
For the fourth quarter of 2025, FMC expects revenue, excluding India, between $1.12 billion and $1.22 billion, a decline of 4 percent at the midpoint compared to the prior year. Adjusted EBITDA is projected to range from $265 million to $305 million, while adjusted EPS is forecast between $1.14 and $1.36.
Full-year revenue is now estimated between $3.92 billion and $4.02 billion, with adjusted EBITDA guidance of $830 million to $870 million and adjusted EPS between $2.92 and $3.14. The company also expects free cash flow between negative $200 million and $0.
Cost Actions and Dividend Adjustment
FMC announced plans to redesign its manufacturing footprint, exiting high-cost production facilities and transitioning to lower-cost alternatives to improve competitiveness. The company also initiated cost reduction measures in Asia following the planned India exit.
To further prioritize debt reduction and strengthen liquidity, the board of directors approved a reduction of the quarterly dividend to $0.08 per share.
Chairman and CEO Pierre Brondeau stated that FMC’s focus remains on its pipeline of new active ingredients, which he described as the company’s “true differentiator and growth engine.”
Read the entire results here.
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