FMC Corp & Zymergen Enter Collaboration for Crop Protection
FMC Corporation FMC recently announced a new collaboration with Zymergen, which is focused on developing breakthrough crop protection solutions. The companies will develop a new and faster natural products discovery process that will lead to the development of novel crop protection solutions for growers across the globe.
Through the collaboration, FMC Corp will be able to leverage Zymergen's vast molecular library as well as expertise in synthetic biology and help to boost the success rate of developing innovative crop protection products.
Increased regulatory scrutiny and changing consumer sentiment have created opportunities to use sustainable technology. This collaboration will enhance investments in sustainable innovations, which will address growing food needs for an increasing global population. FMC Corp and Zymergen will target biochemical processes specific to known pests. They will also scale the production for viable natural product gene clusters.
Notably, FMC Corp will provide criteria reflecting growers' most vital needs for novel modes of manage resistance actions. These selection criteria will notify Zymergen's computational models. This will expedite discovery of nature-based high-performing crop protection solutions.
FMC Corp’s shares have gained 28.5% in the past year compared with 6.8% rise of the industry.
For 2020, the company expects revenues to be between $4.68 billion and $4.82 billion. The figure indicates a rise of 3% at the midpoint from 2019 levels.
The company now expects adjusted earnings per share for 2020 in the range of $6.28-$6.62 compared with its prior view of $6.05-$6.70. The revised guidance reflects an increase of 6% at the midpoint compared with 2019.
Moreover, FMC Corp now envisions adjusted EBITDA in the band of $1.265-$1.325 billion for 2020 compared with $1.23-$1.34 billion expected earlier. The guidance indicates 6% rise at the midpoint from 2019 levels.
For third-quarter 2020, revenues are projected in the band of $1.045-$1.105 billion that suggests an increase of 6% at the midpoint compared with third-quarter 2019. Adjusted earnings are forecast in the range of $1.03-$1.17 per share, which call for 17% increase at the midpoint compared with third-quarter 2019 levels.
Zacks Rank & Key Picks
FMC Corp currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space include Harmony Gold Mining Company Limited HMY, Eldorado Gold Corporation EGO and Yamana Gold Inc. AUY, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Harmony has an expected earnings growth rate of 528.6% for fiscal 2020. The company’s shares have surged 63.4% in the past year.
Eldorado Gold has an expected earnings growth rate of 2,325% for 2020. Its shares have returned 33.1% in the past year.
Yamana has an expected earnings growth rate of 76.9% for 2020. The company’s shares have soared 84.8% in the past year.
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