FMC 10-Q Details $2.07B Q3 Loss, $808.8M Tax Charges and $287.5M Brand Impairment
FMC sits 35% above its 52-week low of $4.37 on elevated volume (1.8× avg).
Summary
FMC's Q3 10-Q confirms the October 29 warning: revenue of $105.9 million, a $2.07 billion net loss driven by $808.8 million of tax valuation allowances and a $287.5 million brand impairment, and negative $288.9 million of free cash flow through nine months.
Key Events · Earnings and Guidance · FMC
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Q3 Revenue Collapses to $105.9M
Revenue fell to $105.9 million from $542.2 million a year earlier, with roughly $639 million of charges recorded against revenue for commercial pricing actions in Brazil, Argentina, the US and Canada.
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$2.07B Net Loss on Non-Cash Charges
Net loss attributable to FMC was $2,066.9 million (-$15.54 per diluted share), including $808.8 million of deferred tax valuation allowances and a $287.5 million impairment of Crop Protection Brands.
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Cash Burn and Debt Load
Nine-month operating cash flow was negative $231.3 million and free cash flow negative $288.9 million; total debt stood at $4,177.7 million against $735.8 million of cash.
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Covenants Met, Revolver Untapped
Interest coverage was 2.28 versus a 2.00 minimum and secured leverage 1.37 versus a 3.50 maximum; $1,661.4 million remained available under the revolver.
Analysis · FMC · Industrial Applications And Services
Hard numbers now sit behind the October 29 warning. Q3 revenue collapsed to $105.9 million from $542.2 million a year earlier, gross margin went to negative $401.6 million, and the net loss attributable to FMC reached $2,066.9 million (-$15.54 per diluted share). Most of the damage is non-cash — $808.8 million of deferred tax valuation allowances in Switzerland and the US plus a $287.5 million write-down of Crop Protection Brands — but the operating picture is genuinely bad: nine-month operating cash flow was negative $231.3 million and free cash flow negative $288.9 million. Against that, liquidity is intact with $735.8 million of cash and $1,661.4 million available on the revolver, and the company says it was in compliance with all covenants at September 30 (interest coverage 2.28 versus a 2.00 minimum). The bet now rests on Project Foundation, a $700-$775 million restructuring expected to deliver $200 million of annual run-rate savings by the end of 2027, and on the pending India sale and Newark property disposal to cut debt.
How filings like this one have moved
In the 30 days to Oct 30, 2026, 48.8% of the 207 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -1.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, FMC was trading at $5.92 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $920.8M. The 52-week trading range was $4.37 to $22.00. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.