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FMC Corporation Just Hit the Panic Button—Sale, Spin-Offs, or Shutdown?

FMC Corporation has officially entered strategic overhaul mode after announcing a broad review of strategic alternatives, including a potential sale of the company. The news follows a challenging fourth quarter in which the agrochemical company missed revenue expectations and issued downbeat guidance for 2026. FMC posted Q4 revenue of $1.08 billion, down 12% year-over-year and below the $1.15 billion consensus. EBITDA guidance for 2026 came in 6%–14% below street expectations, with management forecasting adjusted EPS between $1.63 and $1.89—well short of consensus estimates. The market reacted swiftly, with shares declining 2.9% in after-hours trading. Behind this announcement lies a more complex story: liquidity constraints in Latin America, intensifying generic competition, a highly dilutive divestiture process in India, and deteriorating free cash flow that forced an 85% dividend cut. For shareholders and potential buyers, this shift signals both risk and optionality.