Agricultural Science Company FMC Outlines Strategic Growth Plan & Financial Targets: Here's Details

FMC Corp FMC disclosed updated long-term financial targets and provided an FY24 outlook.

In addition, the company plans to further detail its restructuring plan at its Investor Day later today at the corporate headquarters in Philadelphia.

FY24 Outlook: The company expects revenue of $4.65 billion-$4.85 billion vs. consensus of $4.69 billion.

FMC sees adjusted EBITDA of $1.025 billion-$1.125 billion, with $50 million-$75 million contribution from restructuring actions. The company expects to witness about $150 million of run-rate savings by the end of 2025.

The adjusted EPS is expected to grow faster than adjusted EBITDA in FY24.

FY26 guidance: FMC projects revenue of $5.5 billion-$6.0 billion, adjusted EBITDA of $1.3 billion- $1.5 billion, and adjusted EPS to grow faster than adjusted EBITDA.

"We are confident our industry-leading R&D pipeline and history of driving profitability from existing molecules through patented formulation innovation, combined with our leading position in biologicals, will drive strong revenue and earnings growth through 2026 and beyond," said Mark Douglas, president and CEO. 

Last month, FMC reported Q3 FY23 adj. EPS of $0.44 vs consensus of $0.55 and revenue of $982 million, missing the consensus of $1.01 billion. 

In its Q3 earnings report, the company reiterated the guidance for FY23 revenue at $4.48 billion-$4.72 billion (cons: $4.58 billion) and lowered the adjusted EPS outlook to $3.57-$4.13 (from $5.86-$6.80 earlier) vs. street view of $3.81.

Price Action: FMC shares are trading lower by 3.35% at $52.87 on the last check Thursday.