FMC Corporation FMC is benefiting from efforts to expand its product portfolio through new product launches and its restructuring actions. FMC, which is among the prominent players in the chemical space along with Dow Inc. DOW, Celanese Corporation CE and Air Products and Chemicals, Inc. APD, delivered better-than-expected results in the second quarter on the back of higher volumes. It saw improved demand in the quarter, leading to an increase in sales volumes, especially in the United States and Brazil.The company is investing in technologies as well as new product launches to enhance value to the farmers. New products launched in Europe, North America and Asia are gaining significant traction. Product introductions are expected to support FMC’s results this year.FMC generated $590 million in sales in 2023 from new products launched in the past five years. It sees revenues from new products to grow by roughly $200 million in 2024. It expects a significant amount of volume growth to come from new products in the second half of 2024. FMC is seeing strong gains in new products including Coragen eVo and Premio Star insecticides and the Onsuva fungicide in Latin America.The acquisition of BioPhero ApS, a Denmark-based pheromone research and production company, also adds biologically produced state-of-the-art pheromone insect control technology to the company’s product portfolio and R&D pipeline, highlighting FMC's role as a leader in delivering innovative and sustainable crop protection solutions.FMC is also expected to benefit from reduced input costs, a favorable product mix and its cost-control actions. It benefited from favorable input costs in the second quarter of 2024. FMC is also making progress with its global restructuring and cost-reduction program. It sees benefits from restructuring to contribute $75-$100 million to full-year 2024 adjusted EBITDA, net of inflation.FMC, on its second-quarter call, updated its revenue outlook for full-year 2024. It now sees revenues between $4.30 billion to $4.50 billion, indicating a 2% decline at the midpoint compared to 2023. Adjusted EBITDA is now expected in the range of $880 million and $940 million, suggesting a 7% decline at the midpoint compared to the prior year. Adjusted earnings are now forecast between $3.02-$3.64 per share, reflecting a 12% year-over-year decline at the midpoint. Another prominent chemical maker, Dow updated its third-quarter 2024 earnings guidance last month. It sees revenues of roughly $10.6 billion and operating EBITDA of about $1.3 billion. DOW stated that its revised outlook is mainly prompted by a major unexpected incident in late July at one of its ethylene crackers in Texas. The company is also dealing with higher input costs and margin pressures in Europe.Celanese expects adjusted earnings in the range of $2.75-$3 per share for the third quarter of 2024. Based on the impact of the second-quarter force majeure and ongoing demand issues, CE forecasts full-year adjusted earnings per share in the range of $10.25 to $10.75.Air Products, on its fiscal third-quarter call, maintained its fiscal 2024 full-year adjusted earnings per share projection of $12.20 to $12.50, suggesting a 6-9% increase from the previous year. The company’s adjusted earnings per share guidance for the fiscal fourth quarter is $3.33-$3.63.

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