• Provides preliminary 2024 outlook¹ including revenue of $4.65 billion to $4.85 billion, adjusted EBITDA of $1.025 billion to $1.125 billion and free cash flow conversion of greater than 100 percent
• Initiates three-year rolling financial goals with 2026 revenue expected to be $5.5 billion to $6.0 billion and adjusted EBITDA of $1.3 billion to $1.5 billion

2024 Full-Year Preliminary Outlook¹

FMC Corporation (NYSE:FMC) today finalized an expected amendment to its existing revolving credit agreement.  The amendment raises the maximum leverage ratio covenant to 6.5 times immediately through June 30, 2024, after which the maximum leverage ratio will step down in increments to 3.75 times at September 30, 2025 and remain at that level thereafter.  The interest coverage ratio covenant was similarly adjusted over this time period. 

Third quarter results significantly impacted by lower sales in Latin America, channel destocking in all regions

Third Quarter 2023 Highlights

• Third quarter revenue and earnings outlook reduced primarily due to lower volumes in Latin America as destocking was more severe than anticipated
• Results in EMEA, Asia and North America were broadly in line with expectations

FMC Corporation (NYSE: FMC) has been recognized as a leader in the World Benchmarking Alliance's 2023 Nature Benchmark. The company ranked 23rd out of 350 companies in the food and agriculture sector and 6^th in the agricultural inputs segment.

PHILADELPHIA, September 25, 2023 – FMC Corporation (NYSE: FMC) announced today that Jacqueline (Jackie) Scanlan has been named executive vice president and chief human resources officer (CHRO). Scanlan will lead the global Human Resources (HR) function and assume responsibility for FMC's global Diversity, Equity and Inclusion (DEI) strategy and team. She reports to Mark Douglas, FMC president and chief executive officer.

FMC Corporation (NYSE: FMC) announced today it will release its third quarter 2023 earnings on Monday, October 30, 2023, after the stock market close via PR Newswire and the company's website https://investors.fmc.com.

FMC Corporation (NYSE:FMC) announced that the report published today by short-seller Blue Orca Capital made misleading and factually inaccurate statements regarding FMC's patents for its diamide insecticide technology and inaccurately speculated on the strength of FMC's business.  As acknowledged by Blue Orca, it is a biased opinion piece.    

FMC Corporation hosted its first-ever Ag Challenge, a case study competition organized by the company's Intergenerational (i-Gen) Employee Resource Group (ERG) in partnership with The Congressional Award Program. A private-public partnership, the Congressional Award Program provides opportunities for young people to unleash their potential by achieving personal goals focused on volunteerism, character development and fitness.