Fri, Feb 28, 6:40 PM (57 days ago)
FMC Corporation (NYSE: FMC) reported a revenue decline of approximately 5% to $4,246.1 million for the fiscal year ended December 31, 2024, primarily due to pricing pressures and foreign currency headwinds, despite a slight improvement in sales volumes. The gross margin fell to $1,648.9 million, a decrease of about 10%, attributed to lower pricing across all regions. Net income attributable to FMC shareholders was $341.1 million, a significant drop from $1,321.5 million the previous year, largely due to prior year tax benefits and lower gross margins. The company's restructuring initiative, “Project Focus,” generated $165 million in cost savings and aims for an annual run-rate savings of over $225 million by the end of 2025. FMC expects 2025 revenue to range between $4.15 billion and $4.35 billion, with adjusted earnings per share projected between $3.26 and $3.70. Key risks include ongoing competitive pressures from generic producers, regulatory changes, and market volatility due to climate impacts. The company maintains a strong liquidity position with total debt of $3,365.3 million and cash reserves of $357.3 million. Future cash flow is anticipated to be impacted by ongoing restructuring costs and environmental obligations.