The company expects 2025 revenue to be in the range of $4.15B to $4.35B, essentially flat at the midpoint versus 2024. Volume is expected to improve as increases in growth platforms are expected to more than offset weaker demand in the channel.

Selling, general and administrative expenses increased by 5% YoY, and research and development expenses increased by 13%. Spending in these categories increased to support investment in new products as well as additional sales force in Brazil.

The company continues to implement its Project Focus restructuring plan, designed to right-size the cost base and optimize the footprint and organizational structure. The company expects the plan to be complete by the end of 2025.

Adjusted EBITDA decreased $40.9 million, or approximately 25%, versus the prior year period. The decrease was due to unfavorable pricing impacting adjusted EBITDA by 50% as well as a 4% decrease due to reduced volumes.

The Company achieved $165 million in cost benefits in 2024 and the targeted annual run-rate savings is more than $225 million by the end of 2025 from the program once fully implemented, which is expected by the end of 2025.

The company expects 2025 free cash flow to fall within a range of approximately $200 million and $400 million. The expected decrease in this measure at the midpoint is primarily the result of our expectation of a normalization of working capital after the pronounced correction in 2024.

The recent imposition by the United States of tariffs, sanctions or other restrictions on goods imported into the United States, and countermeasures imposed by foreign countries in response to such government actions could increase the cost of goods for our products or reduce our ability to sell products globally.

Our supply chain and business operations could be disrupted from the temporary closure of third-party supplier and manufacturer facilities, interruptions in product supply or restrictions on the export or shipment of our products.

In connection with an amendment to the Company's credit agreement in February 2025, the Company agreed that it will not repurchase shares until December 31, 2027, with the exception of share repurchases under our equity compensation plans.

Revenue decreased approximately 28 percent year-over-year (down 27 percent organically) driven by lower volumes as customers in the U.S. delayed purchases as expected and was compounded by international trade dynamics.

EMEA: Revenue decreased approximately 11 percent (down 7 percent organically) compared to the prior year period due to lower volumes including the expected loss of registration of triflusulfuron.

Asia: Revenue decreased approximately 24 percent (down 21 percent organically) year-over-year primarily as a result of lower volumes driven by prudent selling to enable channel destocking.

Gross margin percent of approximately 40 percent increased compared to approximately 37 percent in the prior year period, driven primarily by lower raw material costs and favorable impacts of fixed costs absorption during the period.

The Company achieved $165 million in cost benefits in 2024 and the targeted annual run-rate savings is more than $225 million by the end of 2025 from the program once fully implemented, which is expected by the end of 2025.

Depreciation and amortization of $43.7 million decreased by $2 million or 4 percent as compared to the prior year period of $45.7 million. The decrease was the result of the write off of certain assets during 2024 as part of our Project Focus restructuring initiative.

Research and development expenses of $68.7 million increased by $7.8 million or 13 percent compared to the previous year. The increase in spending on research and development relates to the timing of project expenses.

FMC is committed to discovering new insecticide, herbicide, and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet.

The filing mentions a commitment to pioneering technologies but lacks specific details about recent innovations or technological advancements.

Projected 2025 capital expenditures are expected to be in the range of approximately $105 million to $115 million. The spending is mainly driven by investments for our new products.

In connection with an amendment to the Company's credit agreement in February 2025, the Company agreed that it will not repurchase shares until December 31, 2027, with the exception of share repurchases under our equity compensation plans. Therefore, there were no share repurchases under the publicly announced repurchase program during the three months ended March 31, 2025.

During each of the three months ended March 31, 2025 and March 31, 2024, we paid dividends of $72.7 million and $72.5 million, respectively. On April 17, 2025, we paid dividends totaling $72.8 million to our shareholders of record as of March 31, 2025.

Total projected 2025 environmental spending, inclusive of sites accounted for within both continuing operations and discontinued sites, is expected to be in the range of approximately $85 million to $105 million.

Other charges (income) of $4.2 million is comprised of $3.5 million of charges associated with our environmental sites, and $0.7 million of other miscellaneous charges.

A more complete description of our environmental contingencies and the nature of our potential obligations are included in Notes 1 and 10 to our consolidated financial statements in our 2024 Form 10-K. See Note 10 to our consolidated financial statements in our 2024 Form 10-K for a description of significant updates to material environmental sites. There have been no significant updates since the information included in our 2024 Form 10-K.

We expect 2025 revenue to be in the range of approximately $4.15 billion to $4.35 billion, essentially flat at the midpoint versus 2024 and an increase of 3 percent excluding the impact of approximately $110 million in sales from the prior year due to the divestiture of the GSS business. Volume is expected to improve as increases in growth platforms are expected to more than offset weaker demand in the channel.

Price is expected to decline in the mid-single digits almost entirely driven by certain contract adjustments to diamide partners to account for lower manufacturing costs.

Foreign currency impacts are expected to be a low-single digit headwind.