FMC Corporation is a global agricultural sciences company focused on providing innovative crop protection solutions. Their core business model revolves around discovering, developing, and marketing insecticides, herbicides, fungicides, and plant health products. FMC holds a tier-one market position and is the fifth largest global innovator in the agrochemicals/crop protection market. They operate in approximately 110 countries, serving growers, crop advisers, and turf and pest management professionals. A key competitive advantage lies in their technology and innovation, as well as geographic balance and crop diversity. The competitive landscape includes major players like Bayer, BASF, and Corteva, with FMC differentiating itself through unique technologies and a low-cost manufacturing model.

• Employees: 6,600 (as of December 31, 2023)
• Geographic Footprint: Approximately 110 countries
• Headquarters: Philadelphia, Pennsylvania
• Founded: 1928
• Number of locations/facilities: 21 manufacturing facilities
• Revenue: $4.486 billion (FY2023)
• Key Subsidiaries/Brands: Rynaxypyr®, Cyazypyr®, Premio®, Elevest®, Vantacor®, Altacor®, Verimark®, Benevia®, and Exirel®

• CEO: Mark A. Douglas
• CFO: Andrew D. Sandifer
• Chief Marketing Officer: Diane Allemang
• Chief Human Resources Officer: Jacqueline Scanlan
• Chief Technology Officer: Vsevolod Rostovtsev
• General Counsel, Chief Compliance Officer and Secretary: Michael F. Reilly

Key leaders have extensive experience in the agricultural and chemical industries. David Kotch serves as management's expert in cybersecurity management. Andrew Sandifer has completed continuing professional education courses covering the role of management and the board of directors in cybersecurity governance.

• Annual Revenue: $4.486 billion (FY2023)
• Net Income: $1.321 billion (FY2023)
• Total Assets: $11.926 billion (as of December 31, 2023)
• Employees: 6,600 (as of December 31, 2023)
• Key Financial Highlights: Revenue decreased by 23% year-over-year, while net income increased due to a significant income tax benefit.

FMC's portfolio consists of three major pesticide categories:

• Insecticides: Used to control a wide spectrum of pests in various crops.
• Herbicides: Primarily targets a large variety of difficult-to-control weeds.
• Fungicides: Used mainly in high-value crop segments.
• Plant Health: Includes biologicals, crop nutrition, and seed treatment products.

Key offerings include diamide-class molecules Rynaxypyr® and Cyazypyr® active ingredients, which represent approximately 39% of total revenue in 2023.

FMC operates in a single distinct business segment, focusing on agricultural sciences.

Revenue breakdown by geographic region (FY2023):

• North America: $1.204 billion
• Latin America: $1.401 billion
• Europe, Middle East, and Africa: $899.2 million
• Asia: $981.7 million

FMC's business strategy centers around innovation, technology, and strategic investments. Key priorities include:

• Developing environmentally compatible and sustainable solutions.
• Investing in a productive crop protection pipeline with over 20 new active areas in discovery and 18 new active ingredients in development.
• Strengthening relationships with growers as trusted advisors.
• Expanding market access through strategic alliances and acquisitions.
• Focusing on new formulations, registration and data protection, and commercial strategies for diamide products.
• Investing in start-ups and early-stage companies through FMC Ventures.
• Expanding the Arc™ farm intelligence platform.

FMC is undergoing a global restructuring plan called "Project Focus" to right-size costs and optimize operations. They are also focused on delivering products that improve agricultural productivity while protecting the environment.

FMC operates within the global crop protection market, which is comprised of herbicides, insecticides, and fungicides. The agrochemicals industry is consolidated, with five major innovation companies, including FMC, representing approximately 73% of global sales. FMC competes with unique technologies focusing on certain crops, markets, and geographies, while also being supported by a low-cost manufacturing model. Key market trends include the increasing demand for sustainable agricultural practices, the consolidation of major players, and the rise of generic competition due to patent expirations.

• Industry Risks: Competition from generic producers and new technologies, sensitivity to climate conditions, and geographic cyclicality.
• Regulatory Risks: Changes in regulatory environments, particularly in key markets like the U.S., Brazil, China, India, and the EU.
• Operational Risks: Global catastrophic events, business disruptions at manufacturing facilities, and physical risks to operation sites due to climate change.
• Financial Risks: Fluctuations in commodity prices, foreign exchange rate risks, and uncertain tax rates.
• Portfolio Management Risks: Inability to integrate acquired businesses, challenges in new product discovery/development, and enforcement of intellectual property rights.