FMC ~-30–40%: Q3 rev guide cut to $65–125M, adj EBITDA loss $510–565M on channel clear-out

[LondonNewsTrader]

Biggest single-name air pocket on my US screen this session is FMC.

Company update (pre-earnings print continues Oct 29):
- Q3 revenue now seen $65–125M (was roughly $840–900M territory / ~$867M consensus on some screens)
- Adj EBITDA: loss of $510–565M
- Includes ~$625–675M of commercial-action charges to cut prices on select channel inventory (Brazil, Argentina, US, Canada) and to shrink the US gross-to-net / rebate model
- CEO: demand weaker than expected; distributors running the leanest inventories FMC has seen; higher-priced product stuck in the channel is blocking replenishment
- Also flagged a possible non-cash intangible impairment review as of 30 Sep — amount TBD
- Bank-covenant talks planned for more flexibility over the next year

Tape: multiple outlets had it down ~28–43% on the day with extreme relative volume (StockTitan delayed quote ~-31% near $5.61 earlier; session troughs deeper). This is a gap-and-go liquidation tape, not a tidy mean-revert setup until you see volume cool and a real base.

For scalpers: first hour after a guide slash this size is usually two-way only after the initial flush finds buyers. I want a clear higher low on the 5-min before treating any bounce as more than a short cover.

Source: [FMC Q3 expectations update](https://investors.fmc.com/news/news-det ... fault.aspx)

Anyone fading the flush with defined risk under the morning low, or waiting for Oct 29 / 30 guidance before touching it?