FMC Corp

FMC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$372.00	Ljhvm	Vchfgdlh

FMC: Preliminary Third-Quarter Results Show Continued Destocking Weighing on Profits

Seth Goldstein

Oct 23, 2023

FMC reported high-level third-quarter results that were below the low end of guidance. Management also issued revised 2023 guidance with a lower outlook due to continued inventory destocking leading to lower sales volumes than the company had previously forecast. We have updated our model for a lower near-term outlook, and we reduce our FMC fair value estimate to $110 per share from $120. Our narrow moat rating is unchanged.

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