Why Is FMC (FMC) Up 4.5% Since Last Earnings Report?

It has been about a month since the last earnings report for FMC (FMC). Shares have added about 4.5% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is FMC due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.

FMC's Q4 Earnings and Revenues Miss Estimates on Lower Prices

FMC reported a loss of $13.74 per share for the fourth quarter of 2025. This was wider compared to the loss of 13 cents in the year-ago quarter.

Barring one-time items, adjusted earnings per share (EPS) were $1.20, down from $1.79 reported a year ago. It missed the Zacks Consensus Estimate of $1.21.

Revenues were roughly $1.08 billion in the quarter, down around 11.5% from the year-ago quarter’s levels. It also lagged the Zacks Consensus Estimate of $1.15 billion.

Fourth-quarter revenues decreased primarily due to a steep price decline, mainly in Rynaxypyr. The competition was also intense for core products, especially in Latin America, leading to stunted volumes.

Regional Sales Performance

In North America, sales increased 3% year over year to $350.5 million in the quarter. Sales in North America increased as a result of higher volumes driven by herbicides and fungicides, and strong growth of fluindapyr. Sales topped the consensus estimate of $346.7 million.

Latin American sales saw a 5% year-over-year decrease to $371.1 million in the reported quarter. Sales in Latin America suffered from increased pressure from generics, leading to lower volumes and price declines of branded products. It missed the consensus estimate of $416.3 million.

In Asia, excluding India, revenues declined 41.1% from the previous year to $180.7 million. Sales declined due to lower volumes driven by weather and the price declines of the branded products. It missed the consensus estimate of $186.3 million.

EMEA experienced a 2% year-over-year sales decrease to $183.8 million in the reported quarter. The downside was primarily due to lower volumes from adverse weather and weak grower economics. It lagged the consensus estimate of $196.9 million.

Financials

The company had cash and cash equivalents of $584.5 million at the end of the quarter. Long-term debt was around $2.77 billion.

Guidance

FMC expects first-quarter revenues to range between $725 million and $775 million, implying a 5% decline at the midpoint compared to 2025. Adjusted EBITDA is forecasted between $45 million and $55 million, indicating a 58% decline at the midpoint. Adjusted loss per share is projected to be 32 cents to 44 cents, indicating a 56-cent year-over-year decrease at the midpoint.

Additionally, full-year revenues are expected to range between $3.6 billion and $3.80 billion, implying a 5% decline at the midpoint compared to the previous year. Adjusted EBITDA is expected to be $670-$730 million, indicating a decline of 17% at the midpoint compared to the prior year. Adjusted EPS is expected to be between $1.63 and $1.89, calling for a year-on-year decrease of 41% at the midpoint.

FMC also announced its strategic priorities for 2026 and its board’s authorization to explore strategic options, including, but not limited to, the sale of the company.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed a downward trend in estimates revision.

The consensus estimate has shifted -419.61% due to these changes.

VGM Scores

Currently, FMC has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a grade of A on the value side, putting it in the top 20% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise FMC has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.

Performance of an Industry Player

FMC is part of the Zacks Agriculture - Operations industry. Over the past month, Archer Daniels Midland (ADM), a stock from the same industry, has gained 1.7%. The company reported its results for the quarter ended December 2025 more than a month ago.

ADM reported revenues of $18.56 billion in the last reported quarter, representing a year-over-year change of -13.7%. EPS of $0.87 for the same period compares with $1.14 a year ago.

For the current quarter, ADM is expected to post earnings of $0.71 per share, indicating a change of +1.4% from the year-ago quarter. The Zacks Consensus Estimate has changed -3.8% over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for ADM. Also, the stock has a VGM Score of B.

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This article originally published on Zacks Investment Research (zacks.com).

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