Corteva reported Q4 net sales of $3.91 billion, down 2% year-over-year, with organic sales declining 4% as volume fell 5% due to timing shifts in both Seed and Crop Protection. GAAP loss from continuing operations was $537 million, compared with a $50 million loss in Q4 2024, resulting in EPS of $(0.80). On a non-GAAP basis, Operating EBITDA was $446 million (down 15%), and Operating EPS was $0.22, reflecting weaker volumes but partially offset by a 1% price increase and 190 basis-point margin improvement in Seed driven by productivity gains and cost reductions.

For the full year, Corteva achieved net sales of $17.40 billion, up 3% from 2024, with organic sales growth of 4%. GAAP income from continuing operations was $1.20 billion, driving EPS of $1.75, increases of 40% and 43% respectively. Non-GAAP Operating EBITDA reached $3.85 billion (+14%) and Operating EPS was $3.34 (+30%). Cash flow from operations rose 51% to $3.5 billion, and free cash flow improved 69% to $2.9 billion, enabling over $1.5 billion returned to shareholders. For full-year 2026, the company projects Operating EBITDA of $4.0–4.2 billion and Operating EPS of $3.45–3.70.

Corteva remains on track to complete its planned separation in H2 2026, with key milestones—such as naming a SpinCo CEO, launching a new brand identity and filing amendments to Form 10—scheduled for the first half. A comprehensive settlement with Bayer accelerates freedom to operate by two years, secures multi-year technology access and supports a path to $1 billion in net royalty income by 2035. The agreement delivers an estimated $1 billion aggregate earnings upside over the next decade, speeds availability of triple-stack corn traits to 2027 and advances third-generation insect traits by two years, while maintaining a one-time cash outflow of $610 million in Q1 2026.