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FMC Corp (FMC) Collaborates With UPL for Rynaxypyr Active

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Zacks Equity Research
·3 min read
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FMC Corporation FMC recently announced the collaboration with UPL Ltd., a global provider of sustainable agriculture products and solutions. The partnership is geared to expand the manufacturing capacity of Rynaxypyr active and widen its access to growers globally.

Per the terms of the deal, FMC will give UPL access to products containing Rynaxypyr active for distribution in certain markets. Later, FMC will supply the molecule to UPL to utilize in product formulations developed and marketed by UPL globally. Moreover, UPL will toll manufacture Rynaxypyr active for FMC for the Indian market.

This deal is expected to help increase FMC’s production footprint and expand capacity for Rynaxypyr active, widening FMC’s ability to meet the growing demand. It also reflects UPL’s commitment to its OpenAg Purpose to create an agriculture network that feeds sustainable growth for all.

Shares of FMC Corp have gained 9.2% in the past year compared with 43% rise of the industry.

FMC projects revenues between $4.9 billion and $5.1 billion for 2021, indicating a rise of 8% at the midpoint from 2020 levels. The upside is expected to be driven mainly by volumes with price increases more than offsetting currency headwinds. Moreover, FMC envisions adjusted EBITDA of $1.32-$1.42 billion for 2021, indicating a 10% rise at the midpoint versus 2020.

Adjusted earnings per share for 2021 are projected in the range of $6.65-$7.35, reflecting an increase of 13% at the midpoint compared with 2020 levels. Free cash flow for 2021 is projected to be $530-$620 million, indicating 6% year-over-year increase.

For first-quarter 2021, revenues are projected in the band of $1.13-$1.20 billion, reflecting a decline of 7% at the midpoint from the prior-year quarter’s levels. Adjusted earnings are forecast in the range of $1.40-$1.60 per share, representing a decline of 18% at the midpoint compared with the prior-year quarter’s figure.

FMC Corporation Price and Consensus

FMC Corporation Price and Consensus
FMC Corporation Price and Consensus

FMC Corporation price-consensus-chart | FMC Corporation Quote

Zacks Rank & Key Picks

FMC Corp currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the basic materials space are Fortescue Metals Group Limited FSUGY, BHP Group BHP and Impala Platinum Holdings Limited IMPUY.

Fortescue has a projected earnings growth rate of 95.4% for the current fiscal. The company’s shares have surged around 176.9% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

BHP has an expected earnings growth rate of 69.2% for the current fiscal. The company’s shares have gained 88% in the past year. It currently sports a Zacks Rank #1.

Impala has an expected earnings growth rate of 186.9% for the current fiscal. The company’s shares have rallied around 123.1% in the past year. It currently carries a Zacks Rank #2 (Buy).

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