FMC Corporation is a company that makes chemicals for farming. They recently made a new chemical called Dodhylex Active. This chemical can help farmers grow rice better because it fights against bad weeds that can make it difficult to grow rice. FMC is now trying to get permission from different countries to sell this new chemical. If they get permission, farmers in those countries can start using Dodhylex Active to help grow more rice. Read from source...

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FMC Corporation (FMC) Files Regulatory Applications for Dodhylex Active Herbicide in Eight Countries
Source link: https://www.benzinga.com/news/2024/08/21/fmc-corporation-files-regulatory-applications-for-dodhylex-active-herbicide-in-eight-c

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The article talks about FMC Corporation submitting regulatory applications for the Dodhylex active herbicide in eight rice-growing countries. The Dodhylex active is categorized as tetflupyrolimet, which is a Group 28 herbicide, making it the first novel mode of action herbicide globally in more than three decades. It will be a significant new rotational tool for farmers to manage herbicide resistance. FMC expects the first launches of Dodhylex in 2026, subject to regulatory decisions.

In the second-quarter call, FMC updated its revenue outlook for full-year 2024 and expects revenues to be between $4.30 billion and $4.50 billion, indicating a 2% decline at the midpoint from 2023. The adjusted EBITDA is now expected to be in the range of $880- $940 million, indicating a 7% decline at the midpoint from the prior year. The adjusted earnings per share are now forecasted to be between $3.02 and $3.64, implying a 12% year-over-year decline at the midpoint. Full-year free cash flow is anticipated to be in the band of $400-$500 million.

This article provides a quick overview of the FMC Corporation and its recent regulatory applications for Dodhylex Active herbicide in eight countries, mainly for rice cultivation. It also mentions the significance of Dodhylex Active due to its unique mode of action and potential to combat herbicide-resistant grass weeds. FMC's financial outlook for the year 2024 and Q3 forecast are also mentioned. The Zacks Rank and some better-ranked stocks in the same sector are also provided.

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FMC Corporation recently submitted regulatory applications for Dodhylex Active herbicide in eight countries that grow rice, including India, Brazil, the Philippines, the US, Colombia, South Korea, Peru, and Taiwan. Dodhylex Active, which provides season-long control of grass weeds in rice, is the first new mode of action herbicide to be introduced globally in over 30 years. The company plans to apply the herbicide to other crops such as sugarcane, wheat, soybeans, and corn.