FMC Cuts Third-Quarter Forecast, Projects Up to $565 Million Adjusted EBITDA Loss

FMC Corporation lowered its third-quarter 2026 outlook to revenue of $65 million to $125 million and an adjusted EBITDA loss of $510 million to $565 million, citing weak demand and inventories of higher-priced products held by some customers.

The updated forecast expands on the company’s previously covered revenue outlook cut with an adjusted EBITDA loss forecast and details of planned pricing changes. In July, FMC had forecast revenue of $840 million to $900 million excluding India and adjusted EBITDA of $120 million to $140 million. The new revenue range is $775 million below the corresponding July estimates at both ends. FMC said expected India revenue was not set to materially change its third-quarter revenue measures.

FMC attributed the lower outlook to demand below its expectations and excess inventory among some channel customers, which slowed sales and replenishment. The company’s July forecast had already included pressure from lower prices and reduced orders from diamide partners.

The company plans to reduce prices on selected products held by channel customers in Brazil, Argentina, the United States and Canada. It also plans to change its U.S. selling and pricing model to narrow the gap between gross and net prices. FMC estimates these commercial actions will affect revenue and adjusted EBITDA by $625 million to $675 million.

FMC expects to meet its debt covenants as of Sept. 30 and plans to discuss potential changes with lenders over the next year. Its impairment assessment is still underway; the company said it cannot yet determine whether an impairment exists or estimate a related charge.

FMC plans to report third-quarter results and provide more detail on its 2026 outlook on Oct. 29. It plans to share preliminary expectations for 2027 and 2028 during an earnings call on Oct. 30.