Corteva (CTVA) Company Report

Q3 2025 net sales were $2.6 B, up 13% YoY, and organic sales grew 11% on strong seed and crop protection volumes.
Q3 Operating EBITDA turned positive at $49 M vs. a $(100) M loss a year ago, with operating margin expanding to 1.9% from –4.3% (+617 bps).
YTD net sales reached $13.5 B (+4%), organic sales were +6%, and YTD Operating EBITDA was $3.4 B (+19%) with a 25.2% margin (+317 bps); Corteva raised FY 2025 Operating EBITDA guidance to $3.80–$3.90 B (+14% at midpoint).
On track to complete the separation into two public companies—New Corteva and SpinCo—in 2H 2026, creating focused platforms in crop protection, plant health, and advanced genetics.

Nov 5, 2025, 2:00 PM

Presentation

Corteva announces Q3 2025 results

CTVA

Earnings

Guidance Update

Product Launch

Intent to separate Corteva into two public companies (seed and crop protection) by second half 2026 to unlock growth potential in each segment.
Q3 organic sales rose 11% and volumes 12% year-over-year; year-to-date operating EBITDA reached $3.4 billion (+19%) with a margin above 25% (+320 bps).
Full-year operating EBITDA guidance raised to $3.8 billion–$3.9 billion (midpoint +14% YoY), with over $600 million in controllable benefits now expected for 2025.
Product launch: unveiled Varpalgo, a next-generation insecticide targeting chewing pests, expected in the early 2030s and forecasted to peak at $750 million in revenue.

Nov 5, 2025, 2:00 PM

Transcript

Corteva announces Q3 2025 results and separation plans

CTVA

Earnings

Guidance Update

M&A

Corteva confirmed its intent to separate into two public companies—seed and crop protection—with a targeted second-half 2026 separation and a global CEO search underway to lead the new Corteva entity .
In Q3 2025, organic sales grew 11% and volumes rose 12%, driving positive operating EBITDA versus a prior-year loss and about 600 bps of margin expansion; year-to-date organic sales climbed 6%, operating EBITDA reached $3.4 billion (up 19%), and margin exceeded 25% (up 320 bps) .
Full-year 2025 guidance was raised to $3.8 billion–$3.9 billion of operating EBITDA (14% growth at midpoint), $3.25–$3.35 of operating EPS (28% growth at midpoint), free cash flow of ~$1.9 billion (50% conversion), and $1 billion of share repurchases .
Looking to 2026, Corteva anticipates $4.1 billion of operating EBITDA (mid-single-digit growth) and expects low single-digit growth in the crop protection industry (with high single-digit growth in biologicals) .

Nov 5, 2025, 2:00 PM

Transcript

Corteva announces Q3 2025 results and separation plan

CTVA

Earnings

Guidance Update

Share Buyback

On October 1, Corteva announced intent to separate into two public companies, targeting a second-half 2026 separation and initiating a global CEO search for the new seed entity.
Q3 organic sales rose 11%, volumes grew 12%, and operating EBITDA turned positive with over 600 bps of margin expansion versus a loss in the prior year.
Raised full-year 2025 operating EBITDA guidance to $3.8 billion–$3.9 billion (14% growth at midpoint) and increased operating EPS outlook to $3.25–$3.35, while reconfirming ~50% free cash flow conversion.
Committed to $1 billion in share repurchases and a total cash return of $1.5 billion (including dividends) for 2025.

Nov 5, 2025, 2:00 PM

Transcript

Corteva reports Q3 2025 results and raises full-year guidance

CTVA

Earnings

Guidance Update

Corteva delivered Q3 net sales of $2.62 B, GAAP loss from continuing operations of $(308) M (EPS $(0.46)), and non-GAAP operating EBITDA of $49 M (operating EPS $(0.23)).
Nine-month 2025 net sales reached $13.49 B (+4% vs. 2024), GAAP income from continuing operations was $1.74 B (EPS $2.54), and non-GAAP operating EBITDA was $3.40 B (operating EPS $3.11).
Full-year 2025 guidance was raised: net sales of $17.7 B–$17.9 B, operating EBITDA of $3.8 B–$3.9 B, and operating EPS of $3.25–$3.35; 2026 operating EBITDA preliminarily expected at $4.1 B.
The company reaffirmed its planned separation into two public entities (“New Corteva” for crop protection and “SpinCo” for seed and biotech) in H2 2026 to optimize capital allocation and focus.

Nov 4, 2025, 9:40 PM

8-K

Corteva raises full-year 2025 guidance on strong Q3 and YTD results

CTVA

Earnings

Guidance Update

Corteva reported 3Q 2025 GAAP net sales of $2.62 B, up 13%, with non-GAAP organic sales of $2.59 B (+11%) and operating EBITDA of $49 M (+149%).
Through September 30, 2025, GAAP net sales totaled $13.49 B (+4%) and non-GAAP organic sales were $13.73 B (+6%), delivering operating EBITDA of $3.40 B (+19%) and operating EPS of $3.11 (+39%).
Full-year 2025 guidance was raised to net sales of $17.7–17.9 B, operating EBITDA of $3.8–3.9 B, and operating EPS of $3.25–3.35 per share.
Preliminary 2026 outlook sees operating EBITDA of $4.1 B at the midpoint.

Nov 4, 2025, 9:30 PM

Press Release

Corteva announces plan to separate into two pure-play companies

CTVA

M&A

Management Change

Guidance Update

Corteva’s Board approved a tax-free spin-off into New Corteva (crop protection) and SpinCo (seed/genetics), targeting completion in 2026 to unlock long-term value.
New Corteva reaffirms its 2025 full-year guidance and expects 2026 EBITDA of $4.1 billion at the midpoint.
Since 2019, Corteva has delivered an 11% CAGR in operating EBITDA, 700 bps margin expansion, $7 billion returned to shareholders, and ~200% TSR, driven by innovation and cost discipline.
Leadership roles: Greg Page will chair New Corteva; Chuck to become CEO of SpinCo; remaining executive appointments to follow.

Oct 1, 2025, 12:30 PM

Transcript

Corteva announces separation into New Corteva and SpinCo

CTVA

M&A

Corteva will spin into two independent companies—New Corteva (Crop Protection) and SpinCo (Seed)—in H2 2026; the transaction is intended to be tax-free, expects $80–100 M of dis-synergies, and both entities will target investment-grade ratings with legacy DuPont liabilities retained by New Corteva.
New Corteva is projected to generate $7.8 B of revenue with ~17% Operating EBITDA margin in 2025E, while SpinCo is forecast at $9.9 B of revenue and ~26% margin for the same period.
Since its 2019 separation, Corteva has delivered an 11% Operating EBITDA CAGR, improved margins by 700 bps, invested $8.9 B in R&D, returned $7 B to shareholders, and achieved ~200% total shareholder return through June 2025.
New Corteva will focus on next-generation proprietary and biological solutions alongside supply-chain efficiency, whereas SpinCo will prioritize advanced genetics, gene editing, and expansion into biofuels and hybrid wheat markets.

Oct 1, 2025, 12:30 PM

Presentation

Corteva plans spin-off into two public companies

CTVA

M&A

Corteva’s Board unanimously approved a plan to separate into two independent, publicly traded companies: New Corteva (crop protection) and SpinCo (seed business), with completion expected in H2 2026.
Greg Page will chair New Corteva and Chuck Magro will become CEO of SpinCo after separation.
Transaction structured as a tax-free spin-off for U.S. federal tax purposes, pending board approval, legal opinion, and SEC registration.
2025 net sales are estimated at $7.8 billion for New Corteva (44% of Corteva’s total) and $9.9 billion for SpinCo (56%).

Oct 1, 2025, 10:55 AM

Press Release

Corteva participates in $875M New Jersey PFAS settlement

CTVA

Legal Proceedings

The companies will pay a total of $875 million over 25 years to resolve all state environmental and PFAS claims.
Corteva’s share of the settlement’s net present value is 14.5% (≈$72 million).
DuPont and Corteva will acquire Chemours’ PFAS-related insurance rights for $150 million, after which Chemours retains 50% of additional recoveries.
The agreement creates a Remediation Funding Source and a surety-backed Reserve Fund capped at $475 million for site cleanup.

Aug 4, 2025, 10:45 AM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for Corteva.

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