FMC Corporation (NYSE:FMC) shares are trending on Thursday.

Check out the current price of FMC stock here. 

Shares of the Pennsylvanian company dropped 26.55% in after-hours trading on Wednesday to $21.33 after the company reported a $510 million write-down on its India commercial business and announced a dividend cut.

India Business Write-Down Drives Losses

FMC Corporation reported a generally accepted accounting principles (GAAP) net loss of $569.3 million, or $4.52 per diluted share, in the third quarter, compared with a net income of $65 million a year earlier. The company said the decline was mainly due to charges tied to its India commercial business, which is classified as held-for-sale.

The India business, previously valued at about $960 million, was written down to an estimated fair value of $450 million, according to a preliminary valuation by outside advisors.

Along with a formal impairment charge of about $227 million, FMC also reported pre-sale commercial adjustments of about $282 million, including product returns and pricing adjustments intended to speed up receivables collection and maximize working capital.

Revenue Declines and Lowered Guidance

FMC Corporation reported third-quarter revenue of $542 million, down 49% from the third ...