FMC Corporation is exploring strategic options, including a potential sale of the company, while focusing on 2026 operational priorities such as strengthening the balance sheet and improving its core portfolio. The company reported a significant decline in Q4 and full-year 2025 results, with a substantial net loss driven by a goodwill impairment, and provided a cautious outlook for 2026 forecasting revenue and adjusted EBITDA declines.
Sales of new active ingredients reached approximately $200 million in 2025, growing 54% year-over-year.
positiveThe company maintained a healthy EBITDA margin of 26% in Q4 2025.
positiveVolume improved 1% in full-year 2025, driven by increased demand for new active ingredients and expanded market access in Brazil.
positiveConsolidated GAAP net loss was $1.72 billion in Q4 2025, a decline of $1.70 billion versus Q4 2024, primarily due to a non-cash goodwill impairment of $1.356 billion.
negativeFull-year 2025 revenue was $3.47 billion, an 18% decrease compared to 2024. Revenue excluding India was down 8% versus 2024.
negativeFull-year 2025 Adjusted Earnings were $2.96 per diluted share, a decrease of 15% compared to 2024.
negativeFull-year 2025 Adjusted EBITDA was $843 million, down 7% versus prior year.
negativeFree cash flow in 2025 was negative $165 million, a decrease of $779 million versus 2024, mainly due to lower cash from operations.
negative2026 revenue guidance is $3.60 billion to $3.80 billion, a 5% decline at the midpoint versus prior year, with price expected to be lower by mid-single digits.
negative2026 Adjusted EBITDA guidance is $670 million to $730 million, a 17% decline at the midpoint versus prior year.
negative2026 Adjusted EPS guidance is $1.63 to $1.89, a 41% decrease versus prior year.
negativeQ1 2026 Adjusted EBITDA is expected to be $45 million to $55 million, a 58% decrease versus prior year.
negativeQ1 2026 Adjusted EPS is expected to be negative $0.44 to negative $0.32, a midpoint decrease of $0.56 versus prior year.
negativeLatin America revenue declined in Q4 2025 due to elevated competition.
attentionAsia (excluding India) revenue declined significantly in Q4 2025 compared to Q4 2024.
negativeMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
North America | N/A | — | — | — |
Latin America | N/A | — | — | — |
EMEA | N/A | — | — | — |
Asia (excluding India) | N/A | — | — | — |
India | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Our focus in 2026 is on executing our operational priorities, which include strengthening the balance sheet and improving the overall competitiveness of our portfolio.
In parallel, the Board has authorized the exploration of strategic options to maximize shareholder value and to help ensure our valuable assets and pipeline are positioned for long-term success.
The company believes there is significant opportunity to enhance shareholder value by accelerating growth and delivering enhanced financial results with additional investment in these technologies.
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