FMC Stock Plunges Over 40% to Multi-Year Low After Shock Loss and Dividend Cut – Is a Turnaround Possible?
FMC Corp shares plunged 42% to $16, their lowest since 2016, after the company posted a $569 million quarterly loss and slashed its dividend by 80%. Revenue fell 49% year-over-year, hit by a $510 million write-down tied to its India business. The company cut its 2024 outlook and announced President Ronaldo Pereira will step down December 15. Analysts downgraded the stock and trimmed price targets.