investors.fmc.com - FMC Corporation Provides Update to Third Quarter Expectations and Announces Comprehensive Commercial Actions t this release caused FMC, which has been weak for a while now, to drop more than 30% today.

This has the distinction of being one of the most amazing downward revisions I've ever seen: Q3 revenue from $840-900M -> $65-125M and adjusted EBITDA from $120-140M -> negative $510-565M.

It sounds like they used creative pricing and rebates with distributors to manage earnings and weak end market demand and international competition resulted in a need to clear their channels with rebates and reset their pricing strategy.

* FMC closed yesterday at $8.09, they closed to today at $5.62, and were as low as $4.85
* 52 week high is approximately $31, last October
* 5 year high is approximately $125, April 2022
* Market cap is $875M, was as high as $15B at the end of 2022

They are an agricultural chemical company and makes insecticides, herbicides, fungicides, and a small amount of plant health. The bulk of business between insecticides and herbicides, which are about 75% of revenue together

Trailing 12 month revenue is over $3B US (down from $5.8B in 2022).

It has been a long time since I look at this name, which was circa 2008 because I was looking at petroleum alternatives like biodiesel and ethanol more. FMC has had a touch time since then.

I'm unsure I'll purchase. If anyone has done any recent research on them or hold it, I'd be interested to hear others' opinions.