PHILADELPHIA - FMC Corporation (NYSE: NYSE:FMC), a prominent player in the global agricultural sciences industry with a market capitalization of $6.8 billion, has announced the addition of Anthony DiSilvestro to its Board of Directors. The appointment, effective today, places DiSilvestro on the Audit and Compensation and Human Capital Committees. According to InvestingPro analysis, FMC maintains a GOOD financial health score and currently appears undervalued based on its Fair Value assessment.
DiSilvestro's career spans over four decades, featuring a wealth of financial expertise from his tenure at multi-billion dollar corporations. He is currently the CFO at Mattel Inc (NASDAQ:MAT)., where he has played a pivotal role in the company's financial resurgence. His previous experience includes several senior roles at Campbell Soup Company (NYSE:CPB), notably as Senior Vice President and CFO, where he was central to thwarting an activist-led proxy contest and implementing major cost-saving and divestiture initiatives. His appointment comes at a time when FMC boasts strong dividend credentials, having maintained dividend payments for 19 consecutive years with a current yield of 4.1%.
FMC's chairman and CEO, Pierre Brondeau, expressed confidence in DiSilvestro's capabilities. "His extensive experience in leading large transformations, developing and executing corporate strategies, and collaborating with executive leadership teams will be invaluable to FMC," said Brondeau.
DiSilvestro himself relayed his eagerness to contribute to FMC's mission, highlighting the company's dedication to innovation and sustainability, and his intention to support FMC's ongoing success and stakeholder value creation.
FMC Corporation is committed to advancing agricultural science to support the world's growing needs for food, feed, fiber, and fuel, all while addressing environmental changes. The company is at the forefront of developing new agricultural solutions, including biologicals, crop nutrition, and precision agriculture technologies. Employing around 5,800 people across over 100 locations globally, FMC continues its pursuit of novel active ingredients and technologies that favor environmental sustainability. InvestingPro subscribers can access detailed analysis of FMC's financial metrics, including 6+ additional ProTips and comprehensive valuation models in the Pro Research Report, helping investors make informed decisions about this agricultural sciences leader.
This board appointment is based on a press release statement from FMC Corporation.
In other recent news, FMC Corp has reported solid financial performance in the third quarter of 2024, with a 9% increase in sales growth and a 12% rise in organic sales growth. The company has also outlined significant growth projections for the fourth quarter of 2024, expecting a 19% increase in sales and a 32% rise in EBITDA. Additionally, FMC Corp has announced a new executive severance plan, reflecting its ongoing efforts to manage executive transitions and provide structured compensation arrangements for its leadership team.
In other developments, FMC Corp is planning to sell its Global Specialty Solutions business for $350 million, which will impact revenue and EBITDA. The company is also targeting around 6% revenue growth for 2025, with potential cost favorability reaching $200 million. Furthermore, FMC Corp has announced plans to introduce four new active ingredients and is targeting $125 million to $150 million in cost savings from restructuring in 2024.
Analysts maintain a moderate buy consensus for FMC Corp, despite 12 recent downward earnings revisions. They have noted the company's disciplined approach to cost management and innovation as factors that are expected to drive continued growth. These are some of the recent developments concerning FMC Corp.
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