On February 4, FMC Corp. announced that its board of directors has authorized the exploration of various strategic alternatives, including a potential sale of the company. Financial results released by FMC showed 2025 revenue of $3.47 billion, an 18% decline from 2024, primarily due to a 6% decrease in product prices. The company reported a full-year net loss of $2.24 billion, an improvement of $2.58 billion compared to the previous year. With the patent expiration of its insecticide Rynaxypyr, FMC is confronting significant strategic and operational challenges. The company is currently implementing its 2026 operating plan, which includes a key initiative to repay $1 billion in debt through asset sales and licensing agreements, aimed at optimizing its balance sheet. This effort includes the previously announced sale of its Indian operations. Additionally, FMC will evaluate other strategic options. The company believes its four new active ingredients and diverse product pipeline are unique and disruptive. FMC stated that by increasing investment in these technologies to accelerate growth and improve financial performance, there is significant potential to enhance shareholder value. The strategic review is still in its preliminary stages, and there is no guarantee it will result in any transaction. Debt has been a persistent challenge for FMC. In November of last year, S&P Global Ratings downgraded the company's corporate credit rating from BBB- to BB+, placing it below investment grade. The rating agency anticipates FMC will "face ongoing competitive pressure from generic products, particularly in Latin America and Asia, which could impact pricing and margins." As a manufacturer of crop protection products, FMC is also contending with weak agricultural demand and competition from rivals introducing lower-cost alternatives. FMC Chairman and CEO Pierre Brondeau emphasized that the focus for 2026 is the execution of operational plans, including strengthening the balance sheet and improving the overall competitiveness of its businesses. FMC forecasts 2026 revenue between $3.6 billion and $3.8 billion, representing a 5% decrease compared to the prior year. Sales of new active ingredients are projected to be in the range of $300 million to $400 million. Adjusted EBITDA is expected to be between $670 million and $730 million, down 17% year-over-year.