FMC plunges after warning of up to $675 million charges in Q3

By Reuters News

** Agricultural chemicals company FMC Corporation FMC.N shares plummet 44% to $4.52 premarket

** Co warns it will take $625 million to $675 million of charges in Q3, impacting revenue and adjusted EBITDA

** Says charges will be because of "commercial actions" it is taking to boost demand

** FMC will lower the price of select products in Brazil, Argentina, US and Canada

** Co now expects third-quarter revenue between $65 million and $125 million, far below analysts' estimate of $869.3 mln - data compiled by LSEG

** 5 of 19 brokerages rate the stock "buy" or higher, 12 "hold" and 2 "sell"; median PT $12

** Stock trading at 5.40 times expected EPS over the next 12 months, far below industry median of 11.30

** Including session's move, FMC down over 41% YTD

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