FMC Corporation presented its turnaround strategy at the Jefferies Global Industrials Conference on Sept. 10, 2026. The company said it expects to generate about $1 billion in proceeds from a series of asset disposals and financing actions, including a lease‑back of its Stein facility and the sale of its India operations. Those funds are earmarked for debt reduction, with net debt projected at $2.6 billion to $2.7 billion at the end of 2026 – roughly four times trailing EBITDA at the midpoint of its guidance range.
Total debt currently stands at $4.4 billion. FMC’s trailing twelve‑month EBITDA as of Q2 2026 was $269 million, while revenue for the last twelve months fell 21% year‑over‑year to $3.25 billion. Core agricultural‑chemical sales exceed $2.5 billion annually but have been declining 5%‑6% per year. The company’s market capitalization is $1.52 billion and it has paid a dividend for 21 consecutive years, offering a 2.6% yield.
The turnaround plan includes a complete reset of the manufacturing footprint, aimed at re‑pricing products for competitiveness in Latin America and North America. FMC expects the restructuring to be finished by Q1 2027, with the full benefits of the new footprint materialising in the second half of 2027 and becoming a driver of growth in 2028. Growth targets for the core business are set at market‑plus 3%‑4% annually after the reset.
Product development remains a focus. The company highlighted three newer molecules – fluindapyr, Isoflex and Dodhylex – that together generated about $300 million in sales and represent roughly 25% of FMC’s portfolio. Fluindapyr has 11 pending registrations and four label expansions. Isoflex is slated for cereal‑market registration in 2028, while Dodhylex is targeting Asian rice markets. Two additional internal fungicides are planned for market entry in 2030 and 2031.
Strategic investments were also disclosed. FMC acquired a 20% equity stake in Tessenderlo at a premium, with a three‑year lock‑up and a board seat, though no operational synergies are expected. Corteva committed $200 million to pre‑purchase rimisoxafen. The cost to develop a new active ingredient averages $350 million over 10‑13 years, a figure the CEO said underscores the need for industry‑wide R&D collaboration.
CEO Pierre Brondeau said the $1 billion proceeds will “delever the company” and that the firm has “reached the bottom and things are looking up.” He added that the manufacturing reset is intended to regain market share. CFO Andrew Sandifer highlighted the Arc Farm Intelligence platform, noting strong customer response and its role in the broader commercial offering.
The plan calls for about 1,000 employee departures as part of the restructuring. FMC expects a critical validation window for its Rynaxypyr strategy from September through December, with final confirmation anticipated in the Q4 earnings release.
