FMC Posts $2.07B Q3 Loss, Guides Q4 EPS to $0.56-$0.70 and Full-Year EBITDA Negative
FMC is trading near its 52-week low of $4.37 (5.0% above the low) on elevated volume (2.1× avg).
Summary
FMC reported Q3 revenue of $106 million and a $2.07 billion net loss, then guided Q4 Adjusted EPS to $0.56-$0.70 and full-year Adjusted EBITDA to negative $124 million to negative $104 million with free cash flow of negative $350 million to negative $150 million.
Key Events · Earnings and Guidance · FMC
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Q3 Revenue Collapses to $106 Million
Revenue fell from $542 million a year ago, including a $639 million hit from the October 15 commercial actions; excluding India and those actions, revenue was $745 million, down 22% on a 21% volume decline.
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GAAP Loss of $2.07 Billion
Net loss attributable to FMC was $2,066.9 million, or $15.54 per diluted share, driven by $909.9 million of tax valuation allowances, a $287.5 million intangible impairment, and $467.1 million of restructuring and other charges.
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Full-Year EBITDA Guided Negative
Full-year 2026 Adjusted EBITDA is now negative $124 million to negative $104 million and Adjusted EPS negative $3.66 to negative $3.50, with free cash flow of negative $350 million to negative $150 million including about $180 million of restructuring spend.
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Q4 EPS Guided Down 48%
Fourth-quarter Adjusted EPS is guided to $0.56-$0.70 and Adjusted EBITDA to $210 million-$230 million, with the per-share decline partly attributed to the higher share count after the Tessenderlo investment closed in September.
Analysis · FMC · Industrial Applications And Services
The October 15 warning is now a reported reality: revenue of $106 million against $542 million a year ago, a $2.07 billion net loss, and negative $559 million of Adjusted EBITDA. Roughly $639 million of the revenue hit and $672 million of the EBITDA hit came from the commercial actions — the North America pricing and rebate model reset plus markdowns on high-priced channel inventory in Brazil, Argentina, the U.S. and Canada. Strip those out and underlying Adjusted EBITDA was still only $113 million, down sharply on a 21% volume decline as channel customers stopped replenishing. The forward picture is the real story: full-year Adjusted EBITDA is now guided to negative $124 million to negative $104 million and free cash flow to negative $350 million to negative $150 million, so the company is burning cash while carrying $4.18 billion of debt against negative $19.4 million of stockholders' equity. Q4 Adjusted EPS of $0.56-$0.70 is a 48% decline at the midpoint, and management explicitly cites the larger share count from the Tessenderlo investment as a drag — the $403 million raised in September is already costing per-share earnings.
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In the 30 days to Oct 29, 2026, 47.6% of the 231 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.
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At the time of this filing, FMC was trading at $4.59 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $738.8M. The 52-week trading range was $4.37 to $30.54. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.