Corteva raises full-year profit forecast, shares fall after revenue miss
CTVA•Profit and EBITDA guidance increased
The company now expects full-year 2026 adjusted earnings between $3.60 to $3.80 per share, up from a prior view of $3.45-$3.70 per share.
The company expects full-year operating EBITDA of $4.1 billion to $4.3 billion, the mid-point of which is slightly above analysts' average estimate of about $4.18 billion, according to data compiled by LSEG.
Full-year outlook raised on strong crop demand
July 30 (Reuters) - U.S. agriscience company Corteva CTVA.N on Thursday raised its forecast for full-year adjusted profit, based on strong demand across key crop markets.
The acreage shift toward soybeans and away from corn is expected to support demand for seed traits, as farmers adjust planting decisions in response to higher input costs and tighter margins.
The company is among the largest crop-protection product makers in the United States, competing with the likes of Swiss-based group Syngenta and German firms BASF BASFn.DE and Bayer BAYGn.DE in the agricultural chemicals sector.
Shares fall after quarterly revenue misses estimates
However, Corteva's shares fell 3.7% in extended trading as revenue for the second quarter fell short of analysts' estimate.
Crop prices were mixed in the reported quarter, with gains in soybean and corn offset by weak wheat prices amid ample supplies, keeping farm incomes under pressure and farmers cautious on spending.
The shift may weigh on volumes and margins for companies like Corteva in the third quarter, as fewer corn acres curb demand for chemical-intensive crop protection products, while elevated fertilizer and fuel costs limit farm spending.
During the second quarter, net sales in Corteva's seeds segment was flat at $4.53 billion, while the crop protection segment net sales were down 4% at $1.85 billion.
