We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
FMC Submits Regulatory Applications for Dodhylex Active
Read MoreHide Full Article
FMC Corporation (FMC - Free Report) recently filed regulatory applications for the Dodhylex active herbicide in eight rice-growing countries. Registration dossiers were submitted in India, Brazil, the Philippines, the United States, Colombia, South Korea, Peru and Taiwan, accounting for roughly 35% of the estimated 165 million hectares of planted rice worldwide. Dodhylex active regulatory filings are planned for a number of other significant global markets.
The Herbicide Resistance Action Committee and the Weed Science Society of America have categorized Dodhylex active, FMC's brand name, as tetflupyrolimet, which is a Group 28 herbicide, thereby making it the first novel mode of action herbicide globally in more than three decades. Dodhylex active will be a significant new rotational tool for farmers to manage herbicide resistance, which is becoming an increasingly difficult concern for growers around the world.
Dodhylex active is a key improvement for the agriculture industry because it combats resistant grass weeds. According to studies, this proprietary molecule provides season-long control of resistant grass weeds in rice, irrespective of cultivation method. FMC is continuing to evaluate the application of Dodhylex active in other crops such as sugarcane, wheat, soybeans and corn.
FMC's innovation and methodical approach to develop novel molecules to facilitate food security for an expanding population and fight resistance are demonstrated by the discovery and development of Dodhylex active at the Stine Research Centre. Subject to regulatory decisions, FMC expects the first launches of Dodhylex in 2026.
Shares of FMC have lost 28.5% over the past year compared with its industry’s 6.5% decline.
Image Source: Zacks Investment Research
FMC, on its second-quarter call, updated its revenue outlook for full-year 2024 and now expects revenues to be between $4.30 billion and $4.50 billion, indicating a 2% decline at the midpoint from 2023. Adjusted EBITDA is now expected to be in the range of $880- $940 million, indicating a 7% decline at the midpoint from the prior year. Adjusted earnings per share are now forecast to be between $3.02 and $3.64, implying a 12% year-over-year decline at the midpoint. Full-year free cash flow is anticipated to be in the band of $400-$500 million.
FMC also forecasts third-quarter revenues to be between $1 billion and $1.09 billion, indicating a 6% increase at the midpoint from the third quarter of 2023. Adjusted EBITDA is forecast to be in the band of $165-$195 million, indicating a 3% rise from the prior-year level. Adjusted earnings per share are expected to be in the range of 39-67 cents, indicating a 20% rise at the midpoint from the third-quarter 2023 level.
Better-ranked stocks in the basic materials space are Carpenter Technology Corporation (CRS - Free Report) , Eldorado Gold Corporation (EGO - Free Report) and Agnico Eagle Mines Limited (AEM - Free Report) .
CRS beat the Zacks Consensus Estimate in the last four quarters, with the average earnings surprise being 15.9%. The company's shares have gained 154.7% in the past year. Carpenter Technology currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Eldorado’s current-year earnings is pegged at $1.32 per share, indicating a year-over-year rise of 131.6%. The consensus estimate for EGO's current-year earnings has gone up in the past 30 days.
EGO, which currently sports a Zacks Rank of 1, beat the consensus estimate in the last four quarters, with the average earnings surprise being 430.3%. The company's shares have gained roughly 107.3% in the past year.
Agnico Eagle Mines currently carries a Zacks Rank #2 (Buy). AEM beat the Zacks Consensus Estimate in the last four quarters, with the average earnings surprise being 15.7%. The company's shares have gained 73.5% in the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
FMC Submits Regulatory Applications for Dodhylex Active
FMC Corporation (FMC - Free Report) recently filed regulatory applications for the Dodhylex active herbicide in eight rice-growing countries. Registration dossiers were submitted in India, Brazil, the Philippines, the United States, Colombia, South Korea, Peru and Taiwan, accounting for roughly 35% of the estimated 165 million hectares of planted rice worldwide. Dodhylex active regulatory filings are planned for a number of other significant global markets.
The Herbicide Resistance Action Committee and the Weed Science Society of America have categorized Dodhylex active, FMC's brand name, as tetflupyrolimet, which is a Group 28 herbicide, thereby making it the first novel mode of action herbicide globally in more than three decades. Dodhylex active will be a significant new rotational tool for farmers to manage herbicide resistance, which is becoming an increasingly difficult concern for growers around the world.
Dodhylex active is a key improvement for the agriculture industry because it combats resistant grass weeds. According to studies, this proprietary molecule provides season-long control of resistant grass weeds in rice, irrespective of cultivation method. FMC is continuing to evaluate the application of Dodhylex active in other crops such as sugarcane, wheat, soybeans and corn.
FMC's innovation and methodical approach to develop novel molecules to facilitate food security for an expanding population and fight resistance are demonstrated by the discovery and development of Dodhylex active at the Stine Research Centre. Subject to regulatory decisions, FMC expects the first launches of Dodhylex in 2026.
Shares of FMC have lost 28.5% over the past year compared with its industry’s 6.5% decline.
Image Source: Zacks Investment Research
FMC, on its second-quarter call, updated its revenue outlook for full-year 2024 and now expects revenues to be between $4.30 billion and $4.50 billion, indicating a 2% decline at the midpoint from 2023. Adjusted EBITDA is now expected to be in the range of $880- $940 million, indicating a 7% decline at the midpoint from the prior year. Adjusted earnings per share are now forecast to be between $3.02 and $3.64, implying a 12% year-over-year decline at the midpoint. Full-year free cash flow is anticipated to be in the band of $400-$500 million.
FMC also forecasts third-quarter revenues to be between $1 billion and $1.09 billion, indicating a 6% increase at the midpoint from the third quarter of 2023. Adjusted EBITDA is forecast to be in the band of $165-$195 million, indicating a 3% rise from the prior-year level. Adjusted earnings per share are expected to be in the range of 39-67 cents, indicating a 20% rise at the midpoint from the third-quarter 2023 level.
FMC Corporation Price and Consensus
FMC Corporation price-consensus-chart | FMC Corporation Quote
Zacks Rank & Key Picks
FMC currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space are Carpenter Technology Corporation (CRS - Free Report) , Eldorado Gold Corporation (EGO - Free Report) and Agnico Eagle Mines Limited (AEM - Free Report) .
CRS beat the Zacks Consensus Estimate in the last four quarters, with the average earnings surprise being 15.9%. The company's shares have gained 154.7% in the past year. Carpenter Technology currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Eldorado’s current-year earnings is pegged at $1.32 per share, indicating a year-over-year rise of 131.6%. The consensus estimate for EGO's current-year earnings has gone up in the past 30 days.
EGO, which currently sports a Zacks Rank of 1, beat the consensus estimate in the last four quarters, with the average earnings surprise being 430.3%. The company's shares have gained roughly 107.3% in the past year.
Agnico Eagle Mines currently carries a Zacks Rank #2 (Buy). AEM beat the Zacks Consensus Estimate in the last four quarters, with the average earnings surprise being 15.7%. The company's shares have gained 73.5% in the past year.