FMC | 10-Q: FY2025 Q2 Revenue Beats Estimate at USD 1.051 B

LB filings
2025.07.31 20:20
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Revenue: As of FY2025 Q2, the actual value is USD 1.051 B, beating the estimate of USD 996.13 M.

EPS: As of FY2025 Q2, the actual value is USD 0.53.

EBIT: As of FY2025 Q2, the actual value is USD 119.8 M.

Revenue

  • Three Months Ended June 30, 2025 vs. 2024: Total revenue increased slightly to $1,050.5 million from $1,038.4 million. North America saw a decrease to $320.9 million from $338.8 million, while Latin America increased to $310.4 million from $307.2 million. EMEA experienced a significant rise to $260.4 million from $201.2 million, and Asia decreased to $158.8 million from $191.2 million.

  • Six Months Ended June 30, 2025 vs. 2024: Total revenue decreased to $1,841.9 million from $1,956.4 million. North America revenue fell to $507.3 million from $597.9 million, Latin America increased to $517.2 million from $495.2 million, EMEA rose to $533.2 million from $508.0 million, and Asia decreased to $284.2 million from $355.3 million.

Gross Margin

  • Three Months Ended June 30, 2025 vs. 2024: Gross margin increased to $406.3 million from $398.1 million, with the gross margin percentage rising to 39% from 38%.

  • Six Months Ended June 30, 2025 vs. 2024: Gross margin decreased to $723.0 million from $737.8 million, but the gross margin percentage remained at 39%.

Selling, General and Administrative Expenses

  • Three Months Ended June 30, 2025 vs. 2024: SG&A expenses increased to $176.8 million from $164.8 million.

  • Six Months Ended June 30, 2025 vs. 2024: SG&A expenses rose to $348.8 million from $328.7 million.

Research and Development Expenses

  • Three Months Ended June 30, 2025 vs. 2024: R&D expenses decreased to $66.4 million from $75.9 million.

  • Six Months Ended June 30, 2025 vs. 2024: R&D expenses slightly decreased to $135.1 million from $136.8 million.

Restructuring and Other Charges (Income)

  • Three Months Ended June 30, 2025 vs. 2024: Total restructuring and other charges decreased significantly to $36.7 million from $95.1 million.

  • Six Months Ended June 30, 2025 vs. 2024: Total restructuring and other charges decreased to $54.5 million from $136.0 million.

Depreciation and Amortization

  • Three Months Ended June 30, 2025 vs. 2024: Depreciation and amortization slightly decreased to $43.4 million from $44.3 million.

  • Six Months Ended June 30, 2025 vs. 2024: Depreciation and amortization decreased to $87.1 million from $90.0 million.

Interest Expense, Net

  • Three Months Ended June 30, 2025 vs. 2024: Interest expense, net decreased to $61.0 million from $63.6 million.

  • Six Months Ended June 30, 2025 vs. 2024: Interest expense, net decreased to $111.1 million from $125.3 million.

Non-Operating Pension, Postretirement and Other Charges (Income)

  • Three Months Ended June 30, 2025 vs. 2024: Non-operating pension, postretirement and other charges increased to $6.6 million from $4.2 million.

  • Six Months Ended June 30, 2025 vs. 2024: These charges increased to $9.8 million from $8.5 million.

Provision for Income Taxes

  • Three Months Ended June 30, 2025 vs. 2024: Provision for income taxes was $14.4 million compared to a benefit of -$303.5 million, with the effective tax rate at 24.5% compared to 5,518.2%.

  • Six Months Ended June 30, 2025 vs. 2024: Provision for income taxes was $27.9 million compared to a benefit of -$304.9 million, with the effective tax rate at 43.8% compared to -12,196.0%.

Discontinued Operations, Net of Income Taxes

  • Three Months Ended June 30, 2025 vs. 2024: Discontinued operations, net of income taxes was $23.4 million compared to -$2.8 million.

  • Six Months Ended June 30, 2025 vs. 2024: Discontinued operations, net of income taxes was $16.4 million compared to -$15.3 million.

Net Income (Loss)

  • Three Months Ended June 30, 2025 vs. 2024: Net income decreased to $67.8 million from $295.2 million.

  • Six Months Ended June 30, 2025 vs. 2024: Net income decreased to $52.2 million from $292.1 million.

Adjusted EBITDA (Non-GAAP)

  • Three Months Ended June 30, 2025 vs. 2024: Adjusted EBITDA increased to $206.5 million from $201.7 million.

  • Six Months Ended June 30, 2025 vs. 2024: Adjusted EBITDA decreased to $326.2 million from $362.3 million.

Free Cash Flow (Non-GAAP)

  • Six Months Ended June 30, 2025 vs. 2024: Free cash flow was -$556.0 million compared to $92.6 million.

Future Outlook and Strategy

  • 2025 Outlook Update: Revenue guidance, excluding India, is expected to be between $4.08 billion and $4.28 billion, a 2% decrease at the midpoint compared to 2024. Adjusted EBITDA is expected to range from $870 million to $950 million, a 1% increase at the midpoint compared to 2024. Adjusted EPS is expected to be between $3.26 and $3.70 per diluted share, remaining flat at the midpoint compared to 2024.
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