Corteva's Q3 revenue misses on price declines; forecasts FY26 EBITDA, EPS below expectations
CTVA•Corteva's Q3 revenue fell 9% year over year to $1.59 billion, below the $1.76 billion estimate, while adjusted EPS dropped 57% to $0.06. It forecast FY26 adjusted EBITDA of $1.1 billion to $1.125 billion and adjusted EPS of $0.76 to $0.80, both below analyst estimates.
1. Quarterly results
Corteva reported Q3 revenue of $1.59 billion, down 9% year over year and below the $1.76 billion analyst estimate. Adjusted EPS was $0.06, down 57% year over year.
2. FY26 outlook
The company expects FY26 adjusted pro forma operating EBITDA of $1.1 billion to $1.125 billion, compared with analysts' estimate of $1.82 billion. It forecasts adjusted pro forma operating EPS of $0.76 to $0.80, versus an estimate of $1.64, citing weaker-than-anticipated market conditions in Brazil.
3. Sales and pricing
Corteva said strong demand for new and differentiated products contributed to growth in North America, EMEA and Asia Pacific. Latin America organic sales declined 31% amid elevated channel inventory, delayed purchasing and high interest rates in Brazil. Q3 prices fell 7%, driven by competitive pressure on late-lifecycle molecules in Brazil and U.S. acetochlor.
