FMC Corporation shares fell roughly 31%-46% after the Company filed a Form 8-K revising its third-quarter 2026 guidance, reducing expected revenue to $65-$125 million from a prior range of $840-$900 million and lowering Adjusted EBITDA to a loss of $510-$565 million from a projected profit of $120-$140 million. Wall Street consensus had expected roughly $868 million in revenue. The Company attributed the revision to weaker-than-expected demand, elevated distributor inventories of higher-priced FMC products, rapid market-price declines, and generic competition restricting product movement. To clear channel inventory, the Company announced $625-$675 million of commercial and pricing actions, including price reductions in Brazil, Argentina, the United States, and Canada. Previously, on the July 30, 2026 earnings call, CEO Pierre Brondeau stated, "Turning to slide eight, we expect third quarter sales between $840 million and $900 million." Additionally, on the May 1, 2025 earnings call, CEO Pierre Brondeau stated, "We will be in a very, very healthy channel situation starting in Q3, which is positive for pricing." The initial guidance was issued in Exhibit 99.1 to Form 8-K filed on July 29, 2026. The investigation concerns whether FMC Corporation adequately disclosed elevated distributor inventories, generic competition, and pricing pressures ahead of revising its third-quarter 2026 guidance.