Shares in agriscience firm Corteva Inc. (CTVA.N) were down about 10%, on track for their biggest one-day percentage drop since 2020.
CTVA led losses on the S&P 500 materials index (.SPLRCM) after missing second-quarter revenue estimates late on Thursday.
Forecast and operating comments
The company raised its forecast for fiscal 2026 adjusted profit, but said it expects second-half 2026 core profit to be roughly flat from a year earlier as costs from tariffs, planned separation and the Middle East conflict offset the impact of rising seed demand and adoption of newer crop-protection products.
During the conference call, CFO David Johnson forecast low-single-digit organic seed sales growth in the second half of 2026.
Crop protection volumes are seen growing at a high single-digit rate, but pricing is expected to decline in the low to mid-single digits; the company does not expect pricing in Brazil to recover in 2026.
Year-to-date performance and analyst views
CTVA is still up about 20% year to date versus a roughly 9% gain in the S&P 500 materials index.
Five of 23 analysts rate CTVA "strong buy", 10 rate it "buy" and 8 rate it "hold"; their median price target is $94, according to LSEG-compiled data.
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