Key Takeaways
- FMC outlined 2026 priorities focused on balance sheet strengthening, portfolio competitiveness, and new product commercialization.
- The company plans to pay down $1 billion in debt through asset sales and licensing, including the sale of its India commercial business.
- FMC’s Board authorized the exploration of strategic options to enhance shareholder value.
- New active ingredients are expected to generate $300–$400 million in sales in 2026, representing strong year-over-year growth.
- FMC provided a 2026 outlook reflecting post-patent pressure on Rynaxypyr® and ongoing market pricing challenges.
FMC Outlines 2026 Operational Priorities and Strategic Review
FMC Corporation (NYSE: FMC) announced its 2026 operational priorities alongside authorization from its Board to explore strategic options, while also reporting fourth quarter and full-year 2025 financial results and providing forward-looking guidance.
The company said its primary focus in 2026 will be strengthening the balance sheet, including plans to reduce debt by $1 billion through asset sales and licensing agreements. This effort includes the previously announced divestment of FMC’s India commercial business. Additional priorities include improving the competitiveness of FMC’s legacy core portfolio and managing the post-patent transition of Rynaxypyr®.
Pierre Brondeau, chairman, chief executive officer and president, said: “Our focus in 2026 is on executing our operational priorities, which include strengthening the balance sheet and improving the overall competitiveness of our portfolio.”
FMC Advances Pipeline While Managing Post-Patent Dynamics
New Active Ingredients Drive Future Growth
FMC said it will continue advancing the commercialization of new active ingredients, including Isoflex®, fluindapyr, Dodhylex®, and rimisoxafen. These products, along with the broader development pipeline, are viewed by the company as central to long-term growth and value creation.
Sales of new active ingredients reached approximately $200 million in 2025, and FMC expects sales of $300–$400 million in 2026, representing growth of more than 75% at the midpoint.
Strategic Options Under Evaluation
In parallel with operational execution, FMC’s Board has authorized a review of strategic options. The company said the review is at a preliminary stage and emphasized there is no assurance that it will result in a transaction.
Brondoau added that the objective is to “maximize shareholder value and to help ensure our valuable assets and pipeline are positioned for long-term success.”
FMC Provides 2026 Financial Outlook
Full-Year and First-Quarter 2026 Guidance
For full-year 2026, FMC expects revenue of $3.60–$3.80 billion, representing a 5% decline at the midpoint versus 2025, driven primarily by pricing pressure related to Rynaxypyr®. Adjusted EBITDA is expected to be $670–$730 million, down 17% at the midpoint, while adjusted EPS is projected at $1.63–$1.89.
Free cash flow for 2026 is expected to range from negative $65 million to positive $65 million.
For the first quarter of 2026, FMC expects revenue of $725–$775 million and adjusted EBITDA of $45–$55 million, reflecting seasonal factors, tariff impacts, and pricing headwinds. EBITDA margins are expected to normalize in subsequent quarters as sales volumes increase and cost benefits materialize.
FMC Reports 2025 Results Impacted by Pricing and Impairment
FMC reported full-year 2025 revenue of $3.47 billion, down 18% year-over-year, with declines driven by lower pricing, competitive pressure, and the removal of India sales in the second half of the year. GAAP results were significantly impacted by a non-cash goodwill impairment, resulting in a full-year net loss of $2.24 billion.
Adjusted EBITDA for the full year totaled $843 million, down 7% from 2024, while adjusted earnings per share were $2.96, reflecting lower earnings and higher interest costs.
FMC said its 2026 priorities are designed to stabilize performance, support innovation-led growth, and position the company for long-term competitiveness.
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