Corteva releases results for the second quarter of 2026

Corteva ended the second quarter of 2026 with net sales of US$6,38 billion, a 1% decrease compared to the same period in 2025. Organic sales fell by 2%. On the other hand, operating EBITDA reached US$2,26 billion, a 4% increase, with a margin of 35,4%.

Total volume fell 3%. In Seeds, the reduction reflected changes in the purchasing calendar, smaller corn acreage in North America, Europe, the Middle East and Africa, as well as the migration of some acreage to soybeans and sunflowers. Price and mix advanced 1% overall, supported by the appreciation of seed technologies.

The Seeds division reported revenue of US$4,53 billion, stable year-over-year. The segment's operating EBITDA rose 6% to US$1,97 billion. The margin reached 43,4%. Gains from pricing, licensing, reduced royalties, and increased productivity offset the decline in volumes and the rise in research expenses.

Crop protection revenue reached US$1,85 billion, a 4% decrease. Volume fell 2% and prices declined 4%, driven by increased competitive pressure in Latin America. Operating EBITDA increased 2% to US$342 million, boosted by cost reductions, improved productivity, and favorable exchange rates.

Considering the performance of the first half of the year, the company raised its annual projection. Corteva forecasts operating EBITDA between US$4,1 billion and US$4,3 billion, a margin between 22,5% and 23,5%, and operating earnings per share of US$3,60 to US$3,80. The estimate considers broad organic growth, new products, productivity gains, and exchange rate benefits. For the second half of the year, the company projects stable corn acreage in Brazil, organic growth in seeds, and an increase in the volume of crop protection products.

The company maintained its forecast for separating its seed and genetics operations. The new company was named Vylor. Management is working towards October 1, 2026, as the date for the spin-off. Pending steps include approval of the final capital structures, completion of the separation of information technology systems, and the entry into force of the regulatory document submitted to the US market authority.