Asia FX muted, dollar weakens slightly ahead of Fed rate decision
PHILADELPHIA - FMC Corporation (NYSE: FMC), an agricultural sciences company with a market capitalization of $5 billion and a "GOOD" financial health rating according to InvestingPro, has formed a strategic agreement with Corteva Agriscience to broaden the availability of a novel fungicide technology for U.S. corn and soybean growers. The collaboration is aimed at providing farmers with better tools to combat foliar diseases such as tar spot and southern rust.
Under the agreement, both FMC and Corteva will market products based on the active ingredient fluindapyr. FMC, which generates annual revenue of $4.1 billion and maintains a strong dividend yield of 5.8%, will continue selling its Adastrio® fungicide and develop new offerings, while Corteva plans to introduce its own fluindapyr-based product in the 2026 growing season, subject to Environmental Protection Agency approval.
Ronaldo Pereira, FMC president, emphasized the importance of the agreement in reaching a significant portion of the U.S. market, with corn and soybeans covering about 95 million and 80 million planted acres, respectively. The partnership is expected to help farmers protect their crops and enhance their return on investment.
Fluindapyr is recognized for its extended residual control and ability to manage pathogens resistant to other fungicide classes. Classified as a Group 7 fungicide, it is considered a critical part of resistance management strategies.
Jeremy Dirks, president of Corteva North America, highlighted the addition of fluindapyr as an effective disease management tool that complements their existing fungicide portfolio, aimed at ensuring successful crop harvests for farmers.
FMC has already commercialized fluindapyr-containing products in several countries, and pending regulatory approvals, plans to launch in additional markets including Chile, Honduras, India, and Ukraine.
The announcement is based on a press release statement from FMC Corporation. The company’s commitment to innovation in crop protection aims to support growers in producing essential resources while addressing environmental challenges. Trading at a P/E ratio of 13.1x and currently appearing undervalued according to InvestingPro analysis, FMC has maintained dividend payments for 20 consecutive years. For deeper insights into FMC’s valuation and growth potential, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, FMC Corporation reported a challenging start to 2025 with a 14% decline in first-quarter sales, affected by pricing adjustments and a strong U.S. dollar. Despite this, the company exceeded earnings expectations with an earnings per share (EPS) of $0.18, surpassing the forecast of $0.09. Revenue for the quarter was $791 million, slightly above the forecast of $773.77 million. Goldman Sachs has maintained its Buy rating for FMC Corp, setting a price target of $51.00, following the company’s earnings announcement. Analysts at Goldman Sachs highlighted the potential in FMC’s pipeline of new active ingredients, which could diversify the company’s portfolio. However, FMC’s second-quarter EBITDA projection of $175 million to $205 million falls short of the anticipated consensus of $207 million. The company has reaffirmed its full-year EBITDA guidance of $870 million to $950 million. FMC anticipates significant growth in the second half of 2025, driven by new product volumes and market expansion in Brazil.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.