7 Best Agriculture Stocks to Buy Right Now

5. FMC Corporation (NYSE:FMC)

Average Upside Potential According to Analysts: 26.17%

FMC Corporation (NYSE:FMC) is an American agricultural sciences company. The company develops and markets a range of products, including herbicides, insecticides, and fungicides. FMC is one of the best agriculture stocks to buy right now.

In the third quarter of 2024, the company reported revenues of $1.07 billion, marking a 9% increase compared to the same period last year. FMC Corporation (NYSE:FMC) turned around from a net loss of $4 million in Q3 2023 to a net income of $66 million this quarter, thanks to higher sales and reduced costs from restructuring efforts. Notably, the introduction of new products like the fluindapyr-based fungicide commercialized in Brazil, Argentina, and Paraguay has contributed significantly to this growth.

FMC Corporation (NYSE:FMC) is also focused on improving its financial performance through aggressive cost-saving measures. The company has increased its restructuring savings target to between $125 million and $150 million for 2024, with expectations of achieving over $225 million in gross savings by 2025. This includes realigning manufacturing operations and using attrition to reduce costs.

On November 1, 2024, FMC Corporation (NYSE:FMC) announced that it has completed the sale of its Global Specialty Solutions business to Envu, a strategic move that will allow FMC to concentrate solely on its crop protection business.

In addition, FMC Corporation (NYSE:FMC) generated a free cash flow of $132 million in the third quarter, reflecting an improvement of $100 million from the previous year.

With strong revenue growth, effective cost management strategies, and a clear focus on core agricultural products, FMC Corporation (NYSE:FMC) presents an attractive investment opportunity in the agriculture sector.