Corteva reported a 2% decline in net sales for Q4 2025 compared with the same quarter a year ago, driven by a 4% drop in organic sales. Seed volume fell 8% as North American deliveries shifted into early 2026 and Latin American safrinha shipments occurred earlier in the third quarter; however, price/mix for Seed rose 3% on continued strong demand for premium genetics. Crop Protection volume decreased 2% due to seasonal timing shifts and regional demand patterns, while price declined 1% in Latin America but improved modestly in North America. GAAP loss from continuing operations after tax widened to $537 million, versus a $50 million loss a year earlier, and Operating EBITDA contracted 15% to $446 million.

For the full year, Corteva delivered net sales of $17.40 billion, up 3% year-over-year, with 4% growth on an organic basis. Seed net sales advanced 4% organically, led by a 3% price/mix benefit and 2% volume growth as corn area expanded in North America and Brazil. Crop Protection organic sales rose 3%, supported by volume gains in new chemistry and biological solutions despite a 2% price headwind in Latin America. GAAP earnings per share from continuing operations increased 43% to $1.75, while non-GAAP Operating EPS climbed 30% to $3.34 per share.

Corteva generated $3.5 billion of operating cash flow in 2025, a 51% increase year-over-year, and delivered free cash flow of $2.9 billion, up 69%. This robust cash generation supported $1.5 billion in shareholder distributions through dividends and share repurchases. The company’s efficient working capital management and productivity initiatives in both Crop Protection and Seed drove margin expansion and financed strategic investments without incremental leverage.

Looking ahead, Corteva has refined its full-year 2026 guidance to non-GAAP Operating EBITDA of $4.0–$4.2 billion and Operating EPS of $3.45–$3.70. The company remains on track to complete its planned separation in H2 2026, with key leadership appointments and branding milestones targeted for the first half. A recently finalized settlement with Bayer accelerates royalty neutrality by two years and unlocks $1 billion of incremental earnings potential over the next decade through expanded licensing of corn, canola, and cotton traits. Management emphasizes continued investment in R&D, disciplined execution on price-for-value strategies, and further productivity gains as catalysts for growth and value creation.