In the quarter ended December 31, 2025, Corteva reported net sales of $3.91 billion, down 2% year-over-year, with organic sales declining 4%. GAAP loss from continuing operations was $537 million, driven by seasonal timing shifts and weather-related delays that reduced seed volume by 8% and crop protection volume by 2%. Non-GAAP operating EBITDA was $446 million, a 15% decrease, as cost improvements were more than offset by lower volume and higher R&D and bad-debt expenses. Seed operating EBITDA improved 33% to $124 million, reflecting productivity gains and deflation benefits, while crop protection margins contracted under competitive pricing pressure in Latin America.

For the full year, Corteva delivered net sales of $17.40 billion, up 3%, and organic sales growth of 4%, with gains across North America, EMEA and Latin America. GAAP income from continuing operations rose 40% to $1.20 billion, translating to EPS of $1.75. On a non-GAAP basis, operating EBITDA reached $3.85 billion (14% growth) and operating EPS was $3.34 (30% growth). Robust cash generation saw operating cash flow of $3.5 billion (up 51%) and free cash flow of $2.9 billion (up 69%), enabling $1.5 billion returned to shareholders through dividends and share repurchases.

Corteva refined its full-year 2026 non-GAAP guidance to operating EBITDA of $4.0–4.2 billion and operating EPS of $3.45–3.70, reflecting confidence in its growth platforms. The company accelerated separation planning with key milestones—executive appointments, brand identity launch and SEC filings—on track for second-half completion. A landmark settlement with Bayer will unlock royalty-neutral licensing by 2026, expand out-licensing of corn and cotton traits, and is expected to contribute approximately $1 billion of incremental earnings over the next decade, supported by a one-time cash outflow of $610 million in early 2026.