Corteva Delivers Strong 1Q 2026, Reaffirms 2026 Outlook, On-Track for 4Q 2026 Separation

Rhea-AI Summary

Corteva (NYSE: CTVA) reported 1Q 2026 net sales of $4.90B, up 11% year-over-year, with organic sales +7%. GAAP income from continuing operations was $725M and GAAP EPS was $1.07. Operating EBITDA was $1.44B and Operating EPS was $1.50. The company reaffirmed 2026 guidance: Operating EBITDA $4.0–4.2B and Operating EPS $3.45–3.70, plans ~$500M share repurchase in H1 2026, and remains on track for a planned separation in 4Q 2026 (Vylor). One-time separation costs are expected to be ~$350M; a discretionary $1.5B U.S. pension contribution is planned.

Positive

• Net sales +11% to $4.90B in 1Q 2026
• Operating EBITDA +21% (non-GAAP) to $1.44B in 1Q 2026
• Seed operating EBITDA +23% to $1,034M in 1Q 2026
• Crop protection sales +10% and operating EBITDA +15% in 1Q 2026
• Reaffirmed 2026 guidance: Operating EBITDA $4.0–4.2B; Operating EPS $3.45–3.70
• $500M planned share repurchase in first half of 2026

Negative

• Estimated one-time separation costs of approximately $350M
• Net dis-synergies estimate of approximately $100M (with $50M included in 2026 guidance)
• Discretionary $1.5B U.S. pension contribution planned on or before July 31, 2026

News Market Reaction – CTVA

-2.54%

-2.54% Session close to close

In the May 6 session, CTVA declined 2.54%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights strong 1Q 2026 execution, with net sales of $4.90B, Operating EBITDA of...

Analysis

This announcement highlights strong 1Q 2026 execution, with net sales of $4.90B, Operating EBITDA of $1.44B, and reaffirmed full‑year guidance for $4.0B–$4.2B Operating EBITDA and $3.45–$3.70 Operating EPS. Management also detailed key milestones toward a planned 4Q 2026 separation and outlined about $500M of share repurchases in 1H 2026. Investors may focus on ongoing margin trends in Seed and Crop Protection, execution on dis‑synergies, and progress toward regulatory and governance steps tied to the breakup.

Key Figures

1Q 2026 Net Sales (GAAP): $4.90B 1Q 2026 GAAP EPS: $1.07 1Q 2026 Organic Sales: $4.73B +5 more

8 metrics

1Q 2026 Net Sales (GAAP) $4.90B Up 11% vs 1Q 2025

1Q 2026 GAAP EPS $1.07 Up 10% vs 1Q 2025

1Q 2026 Organic Sales $4.73B Up 7% vs 1Q 2025

1Q 2026 Operating EBITDA $1.44B NON-GAAP, up 21% vs 1Q 2025

1Q 2026 Operating EPS $1.50 NON-GAAP, up 33% vs 1Q 2025

2026 Operating EBITDA Guide $4.0B–$4.2B Reaffirmed full-year 2026 outlook

2026 Operating EPS Guide $3.45–$3.70 Reaffirmed full-year 2026 outlook

Planned Share Repurchases $500M Expected during 1H 2026

Historical Context

5 past events · Latest: May 04 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 04	Spinoff branding	Positive	+1.0%	Introduced Vylor brand and detailed Q4 2026 spinoff positioning.
Apr 30	Board changes	Positive	+2.1%	Shareholders approved two new directors tied to separation plans.
Apr 28	Dividend declaration	Positive	-0.6%	Declared common and preferred dividends with specified payment dates.
Apr 20	Brand milestone	Positive	-0.1%	Pioneer 100‑year innovation celebration and community investment update.
Apr 14	SpinCo leadership	Positive	-0.7%	Named executive team and investor day for future advanced seed company.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent strategic and branding announcements around the planned separation often saw mixed or slightly negative price follow‑through, despite broadly positive messaging.

Recent Company History

Over the last month, CTVA has focused on its planned separation and capital returns. Announcements included the new Vylor brand and spinoff timing on May 4, 2026, board refresh actions on April 30, 2026, and a quarterly dividend declaration on April 28, 2026. Additional news highlighted Pioneer’s 100‑year innovation legacy and the naming of SpinCo leadership. Today’s strong 1Q 2026 results, reaffirmed guidance, and separation milestones extend this narrative of structural change plus steady capital deployment.

Key Terms

form 10, operating ebitda, operating eps, non-gaap, +3 more

7 terms

form 10 regulatory

"Initial Form 10 filed with the SEC – due to regulatory requirements..."

Form 10 is a U.S. Securities and Exchange Commission filing companies use to register their securities and become subject to public reporting requirements, delivering a comprehensive package of business descriptions, audited financial statements, management information and risk factors. For investors it matters because it creates a standardized, permanent dossier on a company—like a full inspection and disclosure packet when buying a house—so you can assess finances, risks and management and compare firms reliably.

operating ebitda financial

"Operating EBITDA1 and Operating EPS1 were $1.44 billion, and $1.50 per share..."

Operating EBITDA is a measure of the cash profit a company generates from its core business activities, calculated by taking earnings and adding back interest, taxes, depreciation and amortization while excluding one‑time items and non‑operating income. For investors it acts like checking how much money a store makes from selling its products before financing, taxes and accounting charges, helping compare operational performance across companies and periods.

operating eps financial

"Operating EBITDA1 and Operating EPS1 were $1.44 billion, and $1.50 per share..."

Operating EPS is a company's earnings per share calculated from its regular business activities after removing one-time items, unusual gains or losses, and sometimes interest and taxes; it shows how much profit each share earns from core operations. Investors care because it gives a clearer picture of ongoing profitability—like checking a car’s fuel efficiency under normal driving rather than after a rare long tow—helping compare performance across periods and peers.

non-gaap financial

"Organic 1 Sales | Operating EBITDA 1 | Operating EPS 1 NON-GAAP | $4.73B..."

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

basis points financial

"EBITDA margin improved by about 310 basis points versus the prior-year period."

Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

spinosyns medical

"Volume improvement was driven by demand for new products and spinosyns..."

Spinosyns are naturally derived compounds used as insect-killing agents in agriculture and pest control; think of them as targeted bug sprays made from microbial fermentation rather than synthetic chemistry. They matter to investors because they can drive sales, regulatory approvals or restrictions, and market adoption for companies in crop protection and biopesticides—similar to how a safer, more effective product can change customer demand and competitive position in any industry.

dis-synergies financial

"Net dis-synergies estimate of ~$100 million trending favorably..."

Dis-synergies are the negative effects that occur when two businesses, teams, systems, or products are combined and the result is worse than the parts on their own—think two puzzle pieces that don’t fit and create gaps. For investors, dis-synergies matter because they can erase expected gains from mergers or partnerships by increasing costs, reducing revenue, slowing operations, or causing customer or employee loss, which lowers future cash flow and raises risk.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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• First quarter sales reflect strength of Seed and Crop Protection technology portfolios and progress on growth platforms
• Continued productivity and cost initiatives across both businesses further improve financial position
• Full-year 2026 guidance³ reaffirmed, including progress on 2027 value framework

INDIANAPOLIS, Ind., May 5, 2026 /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) ("Corteva" or the "Company") today reported financial results for the first quarter ended March 31, 2026.

1Q 2026 Results Overview
	Net Sales	Inc. from Cont. Ops (After Tax)	EPS
GAAP	$4.90B	$725M	$1.07
vs. 1Q 2025	11 %	9 %	10 %
	Organic1 Sales	Operating EBITDA1	Operating EPS1
NON-GAAP	$4.73B	$1.44B	$1.50
vs. 1Q 2025	7 %	21 %	33 %

First Quarter 2026 Highlights

• First quarter 2026 net sales increased 11% versus prior year.  Organic¹ sales increased 7% in the same period.
• Seed net sales increased 12% and organic¹ sales increased 9%.  Price/mix was up 3%, with gains in all regions, led by favorable product mix and continued execution on the Company's price for value strategy.  Volume growth in North America² was driven by seasonal timing shifts in seed deliveries.
• Crop Protection net sales increased 10% and organic¹ sales increased 4%. Price declined 2% due to competitive market dynamics in Latin America.  Volume improved 6%, with gains in all regions, driven by demand for new products.
• GAAP income and earnings per share (EPS) from continuing operations were $725 million and $1.07 per share, respectively.
• Operating EBITDA¹ and Operating EPS¹ were $1.44 billion, and $1.50 per share, respectively.
• The Company reaffirmed full-year 2026 guidance³ and expects Operating EBITDA¹ to be in the range of $4.0 to $4.2 billion.  Operating EPS¹ is expected to be $3.45 to $3.70 per share. 
• The Company plans to repurchase approximately $500 million of shares during the first half of 2026.

	1Q	1Q	%	%
($ in millions, except where noted)	2026	2025	Change	Organic1 Change
Net Sales	$4,905	$4,417	11 %	7 %
North America	$2,439	$2,210	10 %	10 %
EMEA	$1,655	$1,477	12 %	4 %
Latin America	$506	$442	14 %	4 %
Asia Pacific	$305	$288	6 %	5 %

1.

Organic Sales, Operating EPS, and Operating EBITDA are non-GAAP measures. See page 5 for further discussion. 2. North America is defined as U.S. and Canada. EMEA is defined as Europe, Middle East and Africa. 3. The Company does not provide the most comparable GAAP measure on a forward-looking basis. See page 4 for further discussion. 4. One-time separation costs do not include deferred asset expenses related to debt issuance costs to be amortized/incurred as future interest payments.

______________________________________________________________________________________

"In the first quarter, Corteva delivered a strong start to the year, delivering growth across both businesses and all regions.  Our performance reflects a solid start to the season in the Northern Hemisphere coupled with disciplined cost management and continued demand for our advanced technology, all of which allowed us to deliver earnings growth and margin expansion. 

We also made good progress on our separation, naming executive leadership teams for both future companies, filing our initial Form 10, and announcing Vylor, the new name for our future advanced seed and genetics company.  We remain focused on launching two strong companies, on track for the fourth quarter, and on delivering our 2026 targets.  Our future is bright. "

Chuck Magro
Chief Executive Officer

______________________________________________________________________________________

Company Updates

Separation Update: Key Milestone Targets

• Corteva remains on track to complete the planned separation in the second half of 2026, with already announced key milestones
  • Announced Luke Kissam as New Corteva CEO, along with other key executive leadership roles
  • Vylor was announced as the name of the future advanced seed and genetics company
  • Initial Form 10 filed with the SEC – due to regulatory requirements, Vylor will be shown as the continuing operations of Corteva, Inc. with New Corteva presented as discontinued operations
  • One-time separation costs⁴ expected to be ~$350 million, consistent with external benchmark ranges
  • Net dis-synergies estimate of ~$100 million trending favorably; $50 million included in full-year 2026 guidance
  • In April 2026, the Board of Directors approved a discretionary contribution to the principal U.S. pension plan of approximately $1.5 billion (on a pre-tax basis) to be made on or before July 31, 2026. The company continues to expect both companies at separation to have strong balance sheets and investment grade credit ratings.
• Key separation milestones still expected to be achieved in the first half of 2026:
  • Form 10 public filing in late Q2  
  • Credit agency review and response to capital structure submissions for both companies
• Additional key milestones and updates that will occur in the second half of 2026:
  • Approval of final capital structures
  • Appointment of both companies' Board of Directors
  • Form 10 goes effective
  • Webcasted Investor Day events at New York Stock Exchange on September 15, 2026

Seed Summary

Seed net sales were $3.02 billion in the first quarter of 2026, up from $2.71 billion in the first quarter of 2025. The sales increase was driven by a 6% increase in volume, 3% increase in price/mix, and 3% favorable currency impact.

Price/mix gains in all regions demonstrate demand for top technology and the strength of the portfolio.  Volume increases in North America and EMEA² are due to timing shifts and favorable weather in the northern hemisphere.  Favorable currency impacts were led by the Euro.

Segment operating EBITDA was $1,034 million in the first quarter of 2026, up 23% from the first quarter of 2025. Volume, price execution, net cost and productivity benefits, and net royalty improvement more than offset higher selling expense and compensation.  Segment operating EBITDA margin improved by about 310 basis points versus the prior-year period.

	1Q	1Q	%	%
($ in millions, except where noted)	2026	2025	Change	Organic1 Change
North America	$1,770	$1,597	11 %	11 %
EMEA	$928	$826	12 %	5 %
Latin America	$224	$185	21 %	8 %
Asia Pacific	$101	$99	2 %	4 %
Seed Net Sales	$3,023	$2,707	12 %	9 %
Seed Operating EBITDA	$1,034	$842	23 %	N/A

Crop Protection Summary

Crop Protection net sales were approximately $1.88 billion in the first quarter of 2026 compared to approximately $1.71 billion in the first quarter of 2025. The sales increase was driven by a 6% increase in volume, a 6% favorable currency impact, partially offset by a 2% decrease in price.

Volume improvement was driven by demand for new products and spinosyns, coupled with timing shifts in North America and EMEA.  Price declines, primarily in Latin America and APAC, are due to continued competitive market dynamics in those regions.  Favorable currency impacts were led by the Euro and Brazilian Real.

Segment operating EBITDA was $434 million in the first quarter of 2026, up 15% from the first quarter of 2025. Volume growth, productivity savings, and favorable currency more than offset price pressure and higher selling expense. Segment operating EBITDA margin improved by about 100 basis points versus the prior-year period.

	1Q	1Q	%	%
($ in millions, except where noted)	2026	2025	Change	Organic1 Change
North America	$669	$613	9 %	8 %
EMEA	$727	$651	12 %	2 %
Latin America	$282	$257	10 %	1 %
Asia Pacific	$204	$189	8 %	6 %
Crop Protection Net Sales	$1,882	$1,710	10 %	4 %
Crop Protection Operating EBITDA	$434	$377	15 %	N/A

2026 Guidance

Globally, agricultural fundamentals remain mixed, with resilient demand across both seeds and crop protection driven by a continued focus on productivity and performance. Growers are increasingly prioritizing advanced genetics and higher-value, technology-enabled solutions to optimize yield outcomes, reinforcing strong demand for differentiated offerings. At the same time, reduced export availability from China is contributing to a gradual tightening in global supply-demand dynamics as the season progresses. Grain and oilseed markets have shown improvement, supported in part by evolving geopolitical factors, providing a more constructive backdrop for the sector.

Across the portfolio, our full-year outlook remains constructive. In Seed, we expect continued demand for our technology-driven offerings, supported by product innovation and a solid start to the Northern Hemisphere planting season. In Crop Protection, we anticipate volume growth driven by demand for differentiated solutions, with an improving supply-demand environment helping to moderate prior headwinds. Farm-level conditions remain measured, as growers continue to manage input costs carefully, but investment in yield-enhancing technologies remains a clear priority. Overall, we expect the net impact from geopolitical and trade developments on our full-year results to be manageable within our current guide, and underlying demand is expected to remain resilient.

As a result, the Company reaffirmed full-year 2026 guidance³ with Operating EBITDA¹ expected to be $4.0 billion to $4.2 billion, growth of 7% at the mid-point. Operating EPS¹ is expected to be $3.45 to $3.70 per share, growth of 7% at the mid-point. The Company expects to repurchase approximately $500 million of shares during the first half of 2026.

The Company is not able to reconcile its forward-looking non-GAAP financial measures, to its most comparable U.S. GAAP financial measures, as it is unable to predict with reasonable certainty items outside of its control, such as Significant Items, without unreasonable effort.

First Quarter Conference Call

The Company will host a live webcast of its first quarter 2026 earnings conference call with investors to discuss its results and outlook tomorrow, May 6, 2026, at 9:00 a.m. ET. The slide presentation that accompanies the conference call is posted on the Company's Investor Events and Presentations page. A replay of the webcast will also be available on the Investor Events and Presentations page.

About Corteva

Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.

Cautionary Statement About Forward-Looking Statements

This press release contains certain estimates and forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which are intended to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and may be identified by their use of words like "plans," "expects," "will," "anticipates," "believes," "intends," "projects," "estimates," "outlook," or other words of similar meaning. All statements that address expectations or projections about the future, including  statements about Corteva's financial results or outlook; strategy for growth; product development; regulatory approvals; market position; capital allocation strategy; liquidity; sustainability targets and initiatives; the anticipated benefits of acquisitions, restructuring actions, or cost savings initiatives; the anticipated benefits, impacts, and timing of the Proposed Separation; and the outcome of contingencies, such as litigation and environmental matters, are forward-looking statements.

Forward-looking statements and other estimates are based on certain assumptions and expectations of future events which may not be accurate or realized. Forward-looking statements and other estimates also involve risks and uncertainties, many of which are beyond Corteva's control. While the list of factors presented below is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Corteva's business, results of operations and financial condition. Some of the important factors that could cause Corteva's actual results to differ materially from those projected in any such forward-looking statements include: (i) failure to obtain or maintain the necessary regulatory approvals for some of the company's products; (ii) failure to successfully develop and commercialize the company's pipeline; (iii) effect of the degree of public understanding and acceptance or perceived public acceptance of the company's biotechnology and other agricultural products; (iv) failure to comply with competition and antitrust laws; (v) effect of changes in agricultural and related policies of governments and international organizations; (vi) costs of complying with evolving regulatory requirements and the effect of actual or alleged violations of environmental laws or permit requirements; (vii) effect of climate change and unpredictable seasonal and weather factors; (viii) effect of competition in Corteva's industry; (ix) competitor's establishment of an intermediary platform for distribution of Corteva's products; (x) risks related to recent funding and staff reductions at U.S. government agencies; (xi) risk related to geopolitical and military conflict; (xii) effect of volatility in Corteva's input costs; (xiii) risks related to Corteva's global operations; (xiv) effect of industrial espionage and other disruptions to Corteva's supply chain, information technology or network systems;  (xv) risks related to environmental litigation and the indemnification obligations of legacy EIDP liabilities in connection with the Corteva Separation; (xvi) impact of Corteva's dependence on third parties with respect to certain of its raw materials or licenses and commercialization; (xvii) failure of Corteva's customers to pay their debts to Corteva, including customer financing programs; (xviii) failure to effectively manage acquisitions, divestitures, alliances, restructurings, cost savings initiatives, and other portfolio actions; (xix) failure to raise capital through the capital markets or short-term borrowings on terms acceptable to Corteva; (xx) increases in pension and other post-employment benefit plan funding obligations; (xxi) risks related to pandemics or epidemics; (xxii) capital markets sentiment towards sustainability matters; (xxiii) Corteva's intellectual property rights or defense against intellectual property claims asserted by others; (xxiv) effect of counterfeit products; (xxv) Corteva's dependence on intellectual property cross-license agreements; (xxvi) risks related to Corteva's Separation from DowDuPont; and (xxvii) risks related to Corteva's Proposed Separation, including, but not limited to, whether the objectives of the proposed separation will be achieved; the terms, structure, benefits and costs of any action or transaction resulting from the proposed separation; the timing of any such separation or related action and whether any such separation will be consummated at all; the risk that the proposed separation could divert the attention and time of the company's management; the risk of any unexpected costs or expenses resulting from the proposed separation process or separation itself; and the risk of any litigation as a result of, or relating to, the Proposed Separation.

Additionally, there may be other risks and uncertainties that Corteva is unable to currently identify or that Corteva does not currently expect to have a material impact on its business. Where, in any forward-looking statement or other estimate, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of Corteva's management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. Corteva disclaims and does not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements is included in the section titled "Risk Factors" in Corteva's annual and quarterly reports filed on Forms 10-K and 10-Q with the U.S. Securities and Exchange Commission.

Regulation G (Non-GAAP Financial Measures)

This earnings release includes information that does not conform to U.S. GAAP and are considered non-GAAP measures. These measures may include organic sales, organic growth (including by segment and region), operating EBITDA, operating earnings (loss) per share, and base income tax rate. Management uses these measures internally for planning and forecasting, including allocating resources and evaluating incentive compensation. Management believes that these non-GAAP measures best reflect the ongoing performance of the Company during the periods presented and provide more relevant and meaningful information to investors as they provide insight with respect to ongoing operating results of the Company and a more useful comparison of year over year results. These non-GAAP measures supplement the Company's U.S. GAAP disclosures and should not be viewed as an alternative to U.S. GAAP measures of performance. Furthermore, such non-GAAP measures may not be consistent with similar measures provided or used by other companies. Reconciliations for these non-GAAP measures to U.S. GAAP are provided in the Selected Financial Information and Non-GAAP Measures starting on page A-5 of the Financial Statement Schedules.

Corteva is not able to reconcile its forward-looking non-GAAP financial measures to its most comparable U.S. GAAP financial measures, as it is unable to predict with reasonable certainty items outside of the Company's control, such as significant items, without unreasonable effort. For significant items reported in the periods presented, refer to page A-8 of the Financial Statement Schedules. Beginning January 1, 2020, the Company presents accelerated prepaid royalty amortization expense as a significant item. Accelerated prepaid royalty amortization represents the non-cash charge associated with the recognition of upfront payments made to Monsanto in connection with the Company's non-exclusive license in the United States and Canada for Monsanto's Genuity® Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits. Due to the ramp-up of Enlist E3^TM, Corteva significantly reduced the volume of products with the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits beginning in 2021, with expected minimal use of the trait platform thereafter. In 2023 and 2024, the Company committed to restructuring activities to optimize the Crop Protection network of manufacturing and external partners, which are expected to be substantially complete in 2026. The Company expects to record approximately $80 million to $90 million net pre-tax restructuring charges during 2026 for these activities.

Organic sales is defined as price and volume and excludes currency and portfolio and other impacts, including significant items. Operating EBITDA is defined as earnings (loss) (i.e., income (loss) from continuing operations before income taxes) before interest, depreciation, amortization, non-operating benefits (costs), foreign exchange gains (losses), and net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting, excluding the impact of significant items and separation costs. Non-operating benefits (costs) consists of non-operating pension and other post- employment benefit (OPEB) credits (costs), tax indemnification adjustments, and environmental remediation and legal costs associated with legacy businesses and sites. Tax indemnification adjustments relate to changes in indemnification balances, as a result of the application of the terms of the Tax Matters Agreement, between Corteva and Dow and/or DuPont that are recorded by the Company as pre-tax income or expense.

Operating earnings (loss) per share is defined as "earnings (loss) per common share from continuing operations - diluted" excluding the after-tax impact of significant items, the after-tax impact of separation costs, the after-tax impact of non-operating benefits (costs), the after-tax impact of amortization expense associated with intangible assets existing as of the Corteva Separation from DowDuPont, and the after-tax impact of net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting. Although amortization of the Company's intangible assets is excluded from these non-GAAP measures, management believes it is important for investors to understand that such intangible assets contribute to revenue generation. Amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Any future acquisitions may result in amortization of additional intangible assets. Net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting represents the non-cash net gain (loss) from changes in fair value of certain undesignated foreign currency derivative contracts. Upon settlement, which is within the same calendar year of execution of the contract, the realized gain (loss) from the changes in fair value of the non-qualified foreign currency derivative contracts will be reported in the relevant non-GAAP financial measures, allowing quarterly results to reflect the economic effects of the foreign currency derivative contracts without the resulting unrealized mark to fair value volatility. Base income tax rate is defined as the effective income tax rate less the effect of exchange gains (losses), significant items, separation costs, amortization of intangibles (existing as of Corteva Separation), mark-to-market (gains) losses on certain foreign currency contracts not designated as hedges, and non-operating (benefits) costs.

® TM Corteva Agriscience and its affiliated companies.
5/5/2026

 

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SOURCE Corteva Agriscience

FAQ

What were Corteva (CTVA) 1Q 2026 sales and earnings results?

Corteva reported 1Q 2026 net sales of $4.90B and GAAP income of $725M. According to the company, operating EBITDA was $1.44B and operating EPS was $1.50.

What guidance did Corteva (CTVA) reaffirm for full-year 2026?

Corteva reaffirmed full-year guidance of Operating EBITDA $4.0–4.2B and Operating EPS $3.45–3.70. According to the company, this implies roughly 7% growth at the mid-point.

What is Corteva's timeline and cost estimate for its planned separation (CTVA)?

Corteva remains on track for a planned separation in 4Q 2026, naming Vylor for the seed business. According to the company, estimated one-time separation costs are ~$350M.

How much share repurchase did Corteva (CTVA) announce for 2026?

Corteva plans to repurchase approximately $500M of shares during the first half of 2026. According to the company, repurchases are expected to occur primarily in H1 2026.

Did Corteva (CTVA) disclose any material pension or balance sheet actions in May 2026?

Yes. The board approved a discretionary $1.5B contribution to the principal U.S. pension plan to be made on or before July 31, 2026. According to the company, both future companies are expected to have investment grade ratings.