FMC Corp to cut $1 billion debt in 2026 through asset sales, licensing deals

Feb 4 (Reuters) - Agrichemicals firm FMC Corp FMC.N plans to cut debt by $1 billion in 2026 through asset sales and licensing deals, the company said on Wednesday.

Shares of the company fell 1.3% in extended trading.

The company said it includes the previously announced sale of the India commercial business.

The Philadelphia-based company, a key player in the insecticide and fungicide market, has been facing intensified competition in key markets, prompting it to reduce prices and divest assets.

FMC expects free cash flow to range from negative $65 million to positive $65 million in 2026.

"Our focus in 2026 is on executing our operational priorities, which include strengthening the balance sheet and improving the overall competitiveness of our portfolio," said CEO Pierre Brondeau.

The company expects full-year adjusted core profit to be in the range of $670 million and $730 million, a decline of 17%, hurt by lower prices.

It said lower manufacturing costs to more than offset the $20  million in extra tariff charges and higher spending, though currency is seen as a headwind.

Adjusted profit is expected to be in the range of $1.63 to $1.89, a decrease of 41%, missing analysts' estimate of $2.48 per share according to data compiled by LSEG.

FMC is one of the largest crop-protection product makers in the United States and competes with industry giants such as Syngenta, as well as German firms BASF BASFn.DE and Bayer BAYGn.DE in the agrichemicals sector.

The herbicide maker's quarterly adjusted core profit came in 17% lower than last year at $280 million.

Net loss attributable to shareholders widened to $1.72 billion, compared with a $16.1 million loss a year earlier.