Shares of FMC Corp fell to a 52-week low of $9.48, extending a steep decline that has erased roughly 70% of the stock's value over the past 12 months, according to InvestingPro data.
The drop followed the release of second-quarter 2026 earnings. Adjusted earnings per share of $0.26 exceeded Wall Street expectations of $0.22, but revenue came in below forecasts at $867 million, short of the consensus estimate of $894.88 million.
Analysts attributed the revenue miss and broader stock weakness to persistent challenges including weak demand and pricing pressure in key markets.
FMC also raised approximately $1 billion in liquidity during the year, a move analysts say supports balance sheet strength heading into a potential recovery.
KeyBanc initiated coverage on FMC with an Overweight rating, citing an expected earnings recovery alongside balance sheet improvements. The bank acknowledged a recent dividend cut in its thesis but pointed to the liquidity boost as a positive development. FMC has paid dividends for 21 consecutive years prior to the reduction.
Wolfe Research noted improving sentiment in the agriculture sector, driven by rising commodity prices, which could create a more favorable operating environment for FMC in coming quarters.
InvestingPro analysis rated the stock undervalued at current levels, with a fair-value estimate suggesting further upside potential. Analysts surveyed by the platform expect the company to return to profitability for the full year.
The stock's recent lows come despite strong performance in some related equity benchmarks: ProPicks AI strategies tracked by InvestingPro have shown significant outperformance, with the Tech Titans portfolio beating the S&P 500 by 112% since its launch three years ago.
