FMC Submits Regulatory Applications for Dodhylex Active

FMC Corporation FMC recently filed regulatory applications for the Dodhylex active herbicide in eight rice-growing countries. Registration dossiers were submitted in India, Brazil, the Philippines, the United States, Colombia, South Korea, Peru and Taiwan, accounting for roughly 35% of the estimated 165 million hectares of planted rice worldwide. Dodhylex active regulatory filings are planned for a number of other significant global markets.The Herbicide Resistance Action Committee and the Weed Science Society of America have categorized Dodhylex active, FMC's brand name, as tetflupyrolimet, which is a Group 28 herbicide, thereby making it the first novel mode of action herbicide globally in more than three decades. Dodhylex active will be a significant new rotational tool for farmers to manage herbicide resistance, which is becoming an increasingly difficult concern for growers around the world.Dodhylex active is a key improvement for the agriculture industry because it combats resistant grass weeds. According to studies, this proprietary molecule provides season-long control of resistant grass weeds in rice, irrespective of cultivation method. FMC is continuing to evaluate the application of Dodhylex active in other crops such as sugarcane, wheat, soybeans and corn.FMC's innovation and methodical approach to develop novel molecules to facilitate food security for an expanding population and fight resistance are demonstrated by the discovery and development of Dodhylex active at the Stine Research Centre. Subject to regulatory decisions, FMC expects the first launches of Dodhylex in 2026.Shares of FMC have lost 28.5% over the past year compared with its industry’s 6.5% decline.Image Source: Zacks Investment ResearchFMC, on its second-quarter call, updated its revenue outlook for full-year 2024 and now expects revenues to be between $4.30 billion and $4.50 billion, indicating a 2% decline at the midpoint from 2023. 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. Adjusted earnings per share are now forecast 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.FMC also forecasts third-quarter revenues to be between $1 billion and $1.09 billion, indicating a 6% increase at the midpoint from the third quarter of 2023. Adjusted EBITDA is forecast to be in the band of $165-$195 million, indicating a 3% rise from the prior-year level. Adjusted earnings per share are expected to be in the range of 39-67 cents, indicating a 20% rise at the midpoint from the third-quarter 2023 level.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 are Carpenter Technology Corporation CRS, Eldorado Gold Corporation EGO and Agnico Eagle Mines Limited AEM. CRS beat the Zacks Consensus Estimate in the last four quarters, with the average earnings surprise being 15.9%. The company's shares have gained 154.7% in the past year.  Carpenter Technology currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Eldorado’s current-year earnings is pegged at $1.32 per share, indicating a year-over-year rise of 131.6%. The consensus estimate for EGO's current-year earnings has gone up in the past 30 days. EGO, which currently sports a Zacks Rank of 1, beat the consensus estimate in the last four quarters, with the average earnings surprise being 430.3%. The company's shares have gained roughly 107.3% in the past year.Agnico Eagle Mines currently carries a Zacks Rank #2 (Buy). AEM beat the Zacks Consensus Estimate in the last four quarters, with the average earnings surprise being 15.7%. The company's shares have gained 73.5% in the past year.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report FMC Corporation (FMC): Free Stock Analysis Report Eldorado Gold Corporation (EGO): 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