FMC

FMC Corporation stock plummeted 32.4% after the company dramatically slashed its Q3 guidance. Revenue is now expected to fall $65-125 million (versus analyst expectations of $866.7 million), with adjusted EBITDA projected at negative $510-565 million. The collapse stems from weaker-than-weaker demand for agricultural chemicals, rapid market price declines due to generic competition, and FMC's need to slash prices by $625-675 million to clear inventory.

FMC Corporation has submitted a regulatory dossier for rimisoxafen to Brazilian authorities, marking its second global regulatory submission for the herbicide. The dual-mode herbicide targets resistant broadleaf weeds in Brazil's major soybean and corn markets. This is FMC's third novel herbicide active ingredient advanced to regulatory submission in Brazil, though the product remains subject to regulatory approval.