Yahoo Finance FMC's Fluindapyr Fungicide Secures Registration in Brazil
FMC Corporation’s FMC fungicide called fluindapyr has obtained registration in Brazil. This fungicide falls under the category of succinate dehydrogenase inhibitor (SDHI) fungicides, known for their broad-spectrum effectiveness in combating plant diseases.
For farmers in Brazil, SDHI fungicides have become an invaluable tool. Fluindapyr, in particular, offers preemptive control against a wide range of destructive diseases commonly found in Brazilian row crops. These include rusts, leaf spots and powdery mildew.
FMC plans to introduce diverse fluindapyr formulations in Brazil, tailored for crops like cotton, corn and soybeans. A standout combination involves the ONSUVA fungicide, which blends fluindapyr with difenoconazole. The effectiveness of fluindapyr as a fungicide and its compatibility with other active fungicide components are reinforced by FMC's research. This adaptability positions it as an ideal match for holistic disease management strategies.
By providing comprehensive control against a wide range of diseases, fluindapyr will empower Brazilian farmers to combat multiple fungal threats concurrently. It will be pivotal in averting potential crop losses and safeguarding yields.
FMC's receipt of registration in Brazil represents a significant regulatory milestone. The fungicide has already secured registrations in Argentina, the United States, Paraguay, and South Korea. Moreover, the company has submitted formulations of fluindapyr for registration in several other countries, targeting key markets worldwide. Once these registrations are granted, farmers globally will have access to innovative disease management solutions that will enhance their crop management initiatives and ultimately optimize yield.
Shares of FMC have lost 21.9% in the past year against a 0.1% rise of the industry.
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FMC's second-quarter results were impacted by volume declines due to active inventory management by farmers. However, demand for its innovative products showed resilience in the quarter.
For 2023, FMC expects revenues in the range of $5.20-$5.40 billion, indicating a decline of 9% at the midpoint from 2022 levels. The company expects adjusted EBITDA in the band of $1.30-$1.40 billion, indicating a 4% year-over-year decline at the midpoint. FMC now projects adjusted earnings per share for 2023 in the range of $5.86-$6.80, suggesting a decrease of 15% at the midpoint from the 2022 level.
FMC Corporation Price and Consensus
FMC Corporation price-consensus-chart | FMC Corporation Quote
Zacks Rank & Key Picks
FMC currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the Basic Materials space are Carpenter Technology Corporation CRS and Hawkins, Inc. HWKN, both sporting a Zacks Rank #1 (Strong Buy), and Livent Corporation LTHM, carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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The consensus estimate for Hawkins’ current-year earnings is pegged at $3.40, indicating year-over-year growth of 18.9%. HWKN beat the Zacks Consensus Estimate in all the last four quarters, with the average earnings surprise being 25.6%. The company’s shares have rallied 28.2% in the past year.
The consensus estimate for Livent’s current-year earnings is pegged at $2.12, indicating year-over-year growth of 51.4%. In the past 60 days, LTHM’s current-year earnings estimate has been revised upward by 3.4%. LTHM beat the Zacks Consensus Estimate in all the last four quarters, with the average earnings surprise being 19%.
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