Key Highlights

  • In the third quarter FMC (NYSE:FMC) generated USD 106 million of revenue, versus USD 542 million a year earlier, an 80% contraction, while published coverage put the GAAP net loss at USD 2.07 billion.
  • O-I Glass (NYSE:OI) lowered its 2026 adjusted EBITDA range to USD 925 million to USD 950 million after European segment profit collapsed from USD 95 million to USD 2 million.
  • Tronox Holdings (NYSE:TROX) is set to publish third quarter numbers after trading ends on November 4, 2026, and its net Leverage was 11.4 times on June 30.
  • Adjusted EPS at ACCO Brands (NYSE:ACCO) climbed from USD 0.21 to USD 0.28, yet USD 0.11 of that came from net Tariff refunds, so the figure is about USD 0.17 without them (own arithmetic).

FMC (NYSE:FMC): Inventory Clearing Drags Quarterly Sales Down 80%

FMC (NYSE:FMC) makes crop protection chemicals, and on October 15, 2026 it cut its third quarter outlook while launching commercial moves to reduce channel inventory. Management said Demand was softer than expected and some distributors held stock bought at high prices. Planned price reductions cover selected products in Brazil, Argentina, the United States and Canada. Published coverage of the results released October 29, 2026 placed Revenue at USD 106 million, inside the revised band of USD 65 million to USD 125 million, compared with USD 542 million a year earlier, an 80% decline. Negative USD 559 million of adjusted EBITDA came alongside an adjusted EPS loss of USD 4.41, compared with Earnings of USD 0.89 a year earlier. These results figures are single-source until they are matched to the filing. Total Debt stood near USD 4.18 billion while cash was USD 735.8 million, and the company expects to stay within its covenants as it prepares discussions with its bank group. Guidance puts fourth quarter adjusted EBITDA at USD 210 million to USD 230 million. A screen showed a one-year EPS change of 685.41% and a price around USD 6.26, up 2.71%, yet the filings contradict the EPS figure, the snapshot carries no date, and market Capitalization was not verified. A weak or negative base can distort growth rates, and here the filed numbers point to deep losses.

O-I Glass (NYSE:OI): Europe Profit Shrinks to USD 2 Million and Guidance Is Trimmed

O-I Glass (NYSE:OI) manufactures glass containers for food and beverage makers. Its release dated October 27, 2026 reported third quarter net sales of USD 1,623 million, a 2% decrease. Americas operating profit held at USD 137 million compared with USD 140 million, but in Europe sales slid 8% to USD 634 million and segment profit shrank to USD 2 million from USD 95 million. Management linked the European slide largely to net price pressure, and said energy and freight costs ran about USD 15 million above its expectations. The GAAP net loss totaled USD 13 million, or USD 0.08 per share, versus Net Income of USD 30 million a year earlier, while the adjusted loss came to USD 0.09 per share. Adjusted EBITDA slid to USD 234 million from USD 329 million, prompting the range cut. Free Cash Flow is now expected at about negative USD 300 million, and the company projects leverage of 4.5 to 5.0 times while withdrawing its specific 2027 targets. A European plant closure under consideration would bring fourth quarter charges of USD 100 million to USD 120 million, although no final decision has been reached. A 721.70% one-year EPS change conflicts with the reported loss; published market data separately had the stock at USD 5.47, up 6.74%. One single-source report cited a 12.44% fall after the release along with securities class action notices, and neither point is confirmed here, while market capitalization remains unverified.

Tronox Holdings (NYSE:TROX): Results Still Pending as Leverage Reaches 11.4 Times

Tronox Holdings (NYSE:TROX) makes titanium dioxide pigment and mineral sands products, including zircon. The company plans to release third quarter 2026 results after the close of trading on Wednesday, November 4, 2026, followed by a call on November 5, 2026. As those results are not yet out, this is a preview with no third quarter figures or verified consensus. Net leverage divides net debt by trailing twelve-month adjusted EBITDA, so the ratio climbs when earnings shrink even if borrowing stays flat. That ratio reached 11.4 times on June 30, 2026, up from 9.0 times at the end of 2025, against total debt of USD 3.2 billion. Liquidity stood at USD 527 million, and the next major Maturity arrives in 2029. Second quarter revenue came to USD 868 million, while adjusted EBITDA dropped 22% to USD 73 million. A net loss attributable of USD 171 million included a USD 103 million tax valuation allowance. Tronox's third quarter adjusted EBITDA outlook of USD 95 million to USD 115 million has a midpoint about 44% above the second quarter (own arithmetic). An undated market data snapshot showed USD 3.59, up 5.44%, plus a one-year EPS change of 133.02%, but the wider reported loss contradicts that figure, so it is not treated as growth. Because the quote sits below USD 5, a few trades can swing the price, and market capitalization remains unverified.

ACCO Brands (NYSE:ACCO): Refund-Driven Adjusted EPS Gain Under Scrutiny

Office, school and technology accessories are what ACCO Brands (NYSE:ACCO) sells. The October 29, 2026 third quarter report showed adjusted EPS of USD 0.28 versus USD 0.21 and net sales of USD 380.3 million, a 0.9% decline. Comparable sales dropped 6.2% as demand for technology peripherals softened. Net tariff refunds of USD 15.1 million contributed USD 0.11 per share, so adjusted EPS without them would be about USD 0.17, which sits below the prior year (own arithmetic). Refunds repay earlier duties, which inflates a single period. Adjusted EBITDA climbed 21.0% to USD 55.4 million. Published market data showed one-year EPS growth of 61.71%, a figure that could not be matched to a filing. Adjusted EPS growth for the quarter came to about 33% (own arithmetic), a rate that small bases can inflate. The same data set placed the shares at USD 5.51, up 6.07%, on a date that could not be confirmed. Net debt declined to USD 706.5 million from USD 795.3 million, and leverage stands at 3.6 times. The Trust Acquisition closed October 1, 2026, with its price undisclosed. The full-year adjusted EPS outlook runs USD 0.98 to USD 1.02, with USD 0.12 of that from refunds; market capitalization remains unverified.

Where Things Stand

Inventory, pricing and one-off items explain the picture, so the screen's growth readings fail. FMC (NYSE:FMC) cut sales by 80% as distributors worked through high-priced stock, and its losses are deep. European pricing pressure is what cut profit and guidance at O-I Glass (NYSE:OI). Net leverage of 11.4 times sits on the books at Tronox Holdings (NYSE:TROX) before its November 4, 2026 release. Meanwhile ACCO Brands (NYSE:ACCO) owes part of its EPS increase to one-off tariff refunds. Because the screened EPS readings are unconfirmed or contradicted, the filings are the stronger guide. Watch the Tronox release, FMC's covenant discussions, and the O-I Glass quarterly call set for February 3, 2027.