FMC Partners Ballagro to Expand Biologicals Crop Protection in Brazil

FMC Corporation FMC recently entered into an agreement with Ballagro Agro Tecnologia Ltda., a leader in fungi-based biosolutions, to provide growers in Brazil with a diverse range of biological solutions. The arrangement is part of FMC's strategy plan to expand its biologicals platform in major markets, including Brazil. As part of the agreement, FMC Brazil will license and market Ballagro's leading biosolutions. The deal combines the firms' extensive scientific experience - FMC in microbial and Ballagro in fungi-based solutions - to boost the biosolutions business in Brazil by providing farmers with greater access to superior crop protection technologies.This partnership marks a significant move forward in FMC's global Plant Health business, which aims to promote growth, differentiation and strong market positioning through innovation. FMC and Ballagro present a high level of portfolio differentiation and technology to growers, providing innovative, science-backed biological solutions. FMC's investment in expanding its Plant Health portfolio to include complementary solutions to its biological, synthetic and precision agriculture technologies promotes an integrated pest management strategy for more sustainable agricultural production. FMC and Ballagro will be able to offer growers a full suite of biological solutions to boost productivity, efficiency and sustainability.FMC has a significant presence in Brazil and has been at the forefront of promoting sustainable agriculture by offering a comprehensive portfolio of biological solutions to complement its synthetic and precision agriculture technologies. This includes the introduction of biofungicides Ataplan and Provilar, bionematicides Quartzo and Presence Full, as well as biostimulants Seed+ and Seed+CoMo. FMC has launched approximately 50 biological products in 42 countries over the last five years. The company will continue to invest in its Plant Health business by conducting in-house research and development, forming strategic alliances and commercializing its unique pheromones platform.Shares of FMC have gained 0.9% over the past year compared with a 4.1% rise of its industry.Image Source: Zacks Investment ResearchFMC, on its second-quarter call, updated its outlook for full-year 2024 and 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. Adjusted earnings are now forecast between $3.02-$3.64 per share, reflecting a 12% year-over-year decline at the midpoint. Full-year free cash flow is anticipated to be $400-$500 million.FMC also forecasts third-quarter revenues to be between $1 billion to $1.09 billion, indicating a 6% increase at the midpoint compared to the third quarter of 2023. Adjusted EBITDA is forecast in the band of $165-$195 million, indicating a 3% rise versus the prior-year period’s level. Adjusted earnings are expected in the range of 39-67 cents for the third quarter, implying a 20% rise at the midpoint year over year.FMC Corporation Price and Consensus FMC Corporation price-consensus-chart | FMC Corporation QuoteZacks Rank & Key PicksFMC currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, IAMGOLD Corporation IAG and Centrus Energy Corp. LEU. Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.9%. The company's shares have soared 144.8% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.The Zacks Consensus Estimate for IAG’s current-year earnings is pegged at 48 cents, indicating a year-over-year rise of 433.3%. The Zacks Consensus Estimate for IAG's current-year earnings has been going up in the past 30 days. IAG, a Zacks Rank #1 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 200%. The company's shares have rallied roughly 147.5% in the past year.The Zacks Consensus Estimate for Centrus’ current-year earnings is pegged at $3.06 per share. LEU, a Zacks Rank #1 stock, beat the consensus estimate in three of the last four quarters while missed once, with the average earnings surprise being 107.1%. LEU has rallied around 17.8% in the past year. 5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carpenter Technology Corporation (CRS): Free Stock Analysis Report FMC Corporation (FMC): Free Stock Analysis Report Iamgold Corporation (IAG): Free Stock Analysis Report Centrus Energy Corp. (LEU): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks