Core Insights - Corteva, Inc. reported revenue of $3.91 billion for the quarter ended December 2025, reflecting a 1.7% decline year-over-year and a surprise of -7.49% compared to the Zacks Consensus Estimate of $4.23 billion [1] - The company's EPS was $0.22, down from $0.32 in the same quarter last year, with a positive surprise of +3.14% over the consensus estimate of $0.21 [1] Revenue Performance - Crop Protection revenue was $2.17 billion, below the average estimate of $2.41 billion, marking a year-over-year decrease of -1.5% [4] - Seed revenue totaled $1.74 billion, also below the average estimate of $1.82 billion, with a year-over-year decline of -2% [4] - Revenue from Seed-Other oilseeds was $94 million, exceeding the estimate of $89.86 million, representing an increase of +8.1% year-over-year [4] - Crop Protection revenue from Biologicals was $191 million, slightly above the estimate of $186.79 million [4] - Herbicides revenue was $1.06 billion, below the estimate of $1.14 billion, but showed a year-over-year increase of +3% [4] - Insecticides revenue was $488 million, below the estimate of $557.11 million, reflecting a year-over-year change of -0.4% [4] - Fungicides revenue was $272 million, significantly below the estimate of $357.43 million, with a year-over-year decline of -15% [4] - Other Crop Protection revenue was $160 million, below the estimate of $213.87 million, representing a year-over-year decrease of -18.4% [4] - Seed revenue from Soybean was $164 million, exceeding the estimate of $155.13 million, with a year-over-year increase of +6.5% [4] - Seed revenue from Corn was $1.39 billion, slightly below the estimate of $1.41 billion, reflecting a -1.8% change year-over-year [4] - Seed revenue from Other was $93 million, significantly below the estimate of $138.89 million, with a year-over-year decline of -22.5% [4] - Operating EBITDA for Seed was $124 million, above the average estimate of $103.5 million [4] Stock Performance - Corteva, Inc. shares have returned +7.9% over the past month, outperforming the Zacks S&P 500 composite's +1.8% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Key Takeaways CTVA is seeing strong performance in Crop Protection, driven by new products and volume growth.Corteva's Seed segment benefits from advanced genetics, higher out-licensing and execution across key markets.CTVA faces near-term risks from weak crop prices, pressured farm incomes and macro headwinds.Corteva, Inc. (CTVA) is slated to report fourth-quarter 2025 results on Feb. 3, after market close. The company is likely to report a bottom-line decline when it posts the quarterly results.The Zacks ...

Core Viewpoint - Corteva Inc (NYSE:CTVA) is recognized as a strong investment opportunity in the materials sector, with analysts from JPMorgan and Mizuho Securities raising their price targets, indicating potential upside for investors [1][3]. Group 1: Analyst Ratings and Price Targets - Jeffrey Zekauskas from JPMorgan maintained an Overweight rating on Corteva and increased the price target from $70 to $75, suggesting an upside of nearly 9% [1]. - Edlain Rodriguez from Mizuho Securities raised his price target for Corteva from $78 to $80, resulting in an upside of over 16% from the current level [3][4]. Group 2: Revenue Expectations - Zekauskas attributed his price target increase to anticipated higher U.S. corn volumes in 2026, estimating that a 100 basis points increase in global corn volume could yield approximately $70 million in revenues for Corteva, while an increase of 1 million acres of corn volume could lead to around $100 million in sales [2]. Group 3: Company Overview - Corteva Inc operates as a pure-play agriculture business, providing seed, crop protection, and digital agriculture solutions aimed at enhancing crop yields through innovation, focusing on herbicides, insecticides, fungicides, and biologicals [5].

Core Insights - Corteva, Inc. reported $2.62 billion in revenue for Q3 2025, a year-over-year increase of 12.6%, with an EPS of -$0.23 compared to -$0.49 a year ago, exceeding the Zacks Consensus Estimate of $2.49 billion by 5.2% and delivering an EPS surprise of 53.06% [1] Revenue Breakdown - Seed revenue was $917 million, surpassing the estimated $765.33 million, reflecting a 32.7% increase year-over-year [4] - Crop Protection revenue totaled $1.7 billion, slightly below the estimated $1.76 billion, with a year-over-year increase of 4% [4] - Other Crop Protection revenue was $110 million, significantly lower than the estimated $149.2 million, showing a year-over-year decline of 55.3% [4] - Other Seed revenue was $38 million, below the estimated $75.13 million, representing a year-over-year decrease of 50.7% [4] - Herbicides revenue reached $813 million, slightly above the estimated $800.99 million, with a year-over-year increase of 10.5% [4] - Insecticides revenue was $409 million, below the estimated $447.85 million, reflecting a year-over-year decline of 6.4% [4] - Fungicides revenue was $222 million, below the estimated $272.74 million, with a year-over-year increase of 2.8% [4] - Soybean Seed revenue was $152 million, below the estimated $174.91 million, showing a year-over-year decline of 7.3% [4] - Corn Seed revenue was $586 million, exceeding the estimated $411.07 million, representing an 86% year-over-year increase [4] - Other oilseeds Seed revenue was $141 million, above the estimated $122.51 million, with a year-over-year increase of 4.4% [4] Operating Performance - Operating EBITDA for Seed was -$193 million, better than the estimated -$310.39 million [4] - Operating EBITDA for Corporate was -$37 million, slightly worse than the estimated -$29.64 million [4] Stock Performance - Corteva, Inc. shares returned -3.5% over the past month, while the Zacks S&P 500 composite increased by 2.1%, indicating potential underperformance relative to the broader market [3]

Financial Performance - For Q3 2025, net sales were $2.62 billion, a 13% increase compared to Q3 2024, while organic sales rose by 11% [10][14] - Year-to-date (YTD) net sales reached $13.49 billion, reflecting a 4% increase from 2024, with organic sales up 6% [5][14] - The company reported a loss from continuing operations of $308 million in Q3 2025, an improvement from a loss of $519 million in Q3 2024 [12][14] - Operating EBITDA for Q3 2025 was $49 million, a 149% increase year-over-year [12][14] Segment Performance - Crop Protection segment net sales for Q3 2025 were approximately $1.70 billion, up 4% from Q3 2024, driven by a 5% increase in volume [19][21] - Seed segment net sales were $917 million in Q3 2025, up from $691 million in Q3 2024, with a 27% increase in volume [15][21] - Crop Protection YTD net sales were approximately $5.33 billion, a 3% increase from the same period in 2024 [21][24] - Seed YTD net sales reached $8.16 billion, a 5% increase from 2024, with a 3% increase in price/mix and a 4% increase in volume [15][24] Strategic Initiatives - The company plans to separate into two independent public companies by the second half of 2026, with "New Corteva" focusing on crop protection and "SpinCo" on advanced genetics [7][8] - The separation is expected to enhance long-term value through tailored innovation and capital allocation strategies [6][13] - Full-year 2025 guidance has been raised, with net sales expected between $17.7 billion and $17.9 billion, and operating EBITDA projected between $3.8 billion and $3.9 billion [5][26] Market Outlook - The global agricultural outlook remains mixed, with strong demand but pressured commodity prices and farmer margins [25][26] - The company anticipates a large crop production year, with record demand leading to low global corn stock levels [25][26] - Global crop protection industry volumes have stabilized, with signs of price stabilization emerging [26]

Core Insights - Corteva, Inc. will release its third quarter 2025 earnings on November 4, 2025, after market close, with a live webcast presentation scheduled for November 5, 2025, at 9:00 a.m. Eastern Time [1][2] Company Overview - Corteva, Inc. is a global pure-play agriculture company focused on delivering innovative solutions to address significant agricultural challenges, leveraging a unique distribution strategy and a diverse mix of seed, crop protection, and digital products [3] - The company aims to maximize productivity for farmers while collaborating with stakeholders across the food system, ensuring sustainable progress for future generations [3]

Core Viewpoint - Corteva plans to separate into two independent, publicly traded companies: New Corteva (Crop Protection) and SpinCo (Seed) to enhance focus and growth opportunities for both segments [2][3][4] Company Overview - Corteva has established itself as a leader in the agriculture technology sector, focusing on innovation and operational excellence [4][6] - The separation aims to create two distinct market leaders, each with tailored capital allocation strategies and growth priorities [3][5] Strategic Rationale - The separation is seen as a logical step to maximize long-term value creation by allowing each business to focus on its own market dynamics and growth strategies [5][7] - New Corteva will emphasize differentiated, innovative solutions, particularly in the biologicals segment, which is the fastest-growing market area [6][8] Financial Projections - Estimated net sales for New Corteva in 2025 are projected to be $7.8 billion, accounting for 44% of Corteva's total net sales [6][10] - SpinCo is expected to generate $9.9 billion in net sales in 2025, representing 56% of Corteva's total net sales [10][17] Transaction Details - The separation is expected to be completed in the second half of 2026 and is intended to qualify as a tax-free transaction for U.S. federal tax purposes [6][10][11] - The transaction is subject to various conditions, including board approval and legal opinions regarding its tax-free nature [11] Leadership and Management - Current Corteva Chair Greg Page will lead New Corteva, while CEO Chuck Magro will head SpinCo, with full management teams to be announced later [3][4]

Financial Performance - Q2 2025 - Net sales increased by 6% to $6.456 billion compared to $6.112 billion in 2Q 2024[35] - Operating EBITDA increased by 13% to $2.164 billion with an Operating EBITDA margin of 33.5%, a 215 bps increase[35] - Operating EPS increased by 20% to $2.20[35] Financial Performance - 1H 2025 - Net sales increased by 3% to $10.873 billion compared to $10.604 billion in 1H 2024[20, 94] - Operating EBITDA increased by 14% to $3.353 billion with an Operating EBITDA margin of 30.8%, a 301 bps increase[20, 92] Segment Performance - Seed - Seed net sales for 2Q 2025 increased by 5% to $4.537 billion[38] - Seed Operating EBITDA margin for 2Q 2025 was 41.1%, an increase of 186 bps[38] - Seed net sales for 1H 2025 increased by 2% to $7.244 billion[50] - Seed Operating EBITDA margin for 1H 2025 was 37.3%, an increase of 280 bps[50] Segment Performance - Crop Protection - Crop Protection net sales for 2Q 2025 increased by 8% to $1.919 billion[60] - Crop Protection Operating EBITDA margin for 2Q 2025 was 17.4%, an increase of 309 bps[60] - Crop Protection net sales for 1H 2025 increased by 3% to $3.629 billion[69] - Crop Protection Operating EBITDA margin for 1H 2025 was 19.6%, an increase of 355 bps[69] FY 2025 Guidance - Revised Operating EBITDA guidance to $3.75 - $3.85 billion, a 13% increase at the mid-point[27] - Expecting ~150 bps improvement in Operating EBITDA margin[12, 27] - Operating EPS guidance revised to $3.00 - $3.20, a 21% increase at the mid-point[27] - Free Cash Flow Conversion expected to be ~50%[27]

Financial Performance - For Q2 2025, net sales reached $6.46 billion, a 6% increase compared to Q2 2024, with organic sales up 7% [11][8] - GAAP income from continuing operations was $1.38 billion, translating to an EPS of $2.02, while operating EBITDA was $2.16 billion, reflecting a 13% increase year-over-year [10][2] - For the first half of 2025, net sales totaled $10.87 billion, a 3% increase from the same period in 2024, with organic sales up 5% [7][2] Segment Performance - Seed segment net sales for Q2 2025 were $4.54 billion, up from $4.33 billion in Q2 2024, driven by a 3% increase in volume and a 3% increase in price [12][17] - Crop Protection segment net sales were approximately $1.92 billion in Q2 2025, reflecting an 11% increase in volume, although offset by a 2% price decline [20][21] - For the first half of 2025, Crop Protection net sales were approximately $3.63 billion, an 8% volume increase compared to the same period in 2024 [24][25] Market Outlook and Guidance - The company raised its full-year 2025 guidance, expecting net sales between $17.6 billion and $17.8 billion, with operating EBITDA projected at $3.75 billion to $3.85 billion [30][8] - The outlook for the Crop Protection market remains stable, with expectations of double-digit volume gains despite low-single-digit pricing headwinds [28][29] - Global corn area is projected to increase by 5% in North America, driven by favorable economics compared to other crops [27][8] Strategic Initiatives - The company plans to repurchase approximately $1 billion of shares during 2025, reflecting strong cash flow and balance sheet [6][30] - Continued focus on cost discipline and operational excellence has led to margin expansion and improved profitability [5][6] - The company emphasizes the importance of top-tier seed and crop protection technologies to meet global demand for grain and oilseeds [27][8]

Core Viewpoint - Analysts forecast that Corteva, Inc. (CTVA) will report quarterly earnings of $1.89 per share, reflecting a year-over-year increase of 3.3%, with anticipated revenues of $6.23 billion, showing a 1.9% increase compared to the previous year [1]. Earnings Estimates - The consensus EPS estimate has been revised upward by 3.1% in the past 30 days, indicating a reassessment by covering analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock performance [3]. Revenue Forecasts - Analysts predict 'Revenue- Seed' at $4.46 billion, a change of +3.1% year-over-year [5]. - 'Revenue- Crop Protection' is expected to be $1.80 billion, reflecting a +1% change from the prior year [5]. - 'Revenue- Crop Protection- Other' is forecasted to reach $88.17 million, indicating a significant decline of -48.1% year-over-year [5]. - 'Revenue- Seed- Other' is estimated at $168.43 million, showing a +16.2% increase from the previous year [6]. - 'Revenue- Crop Protection- Herbicides' is projected at $951.43 million, a slight increase of +0.6% [6]. - 'Revenue- Crop Protection- Insecticides' is expected to be $413.11 million, reflecting a -0.5% change [7]. - 'Revenue- Crop Protection- Fungicides' is forecasted at $261.53 million, indicating a +4.6% change [7]. - 'Revenue- Seed- Soybean' is estimated at $1.31 billion, showing a -0.4% change [7]. - 'Revenue- Seed- Corn' is projected at $2.74 billion, reflecting a +2% change [8]. - 'Revenue- Seed- Other oilseeds' is expected to reach $218.94 million, indicating a +17.7% change [8]. Operating Metrics - 'Operating EBITDA- Seed' is expected to be $1.77 billion, compared to $1.70 billion from the previous year [8]. - 'Operating EBITDA- Crop Protection' is projected at $249.65 million, down from $255.00 million reported in the same quarter last year [9]. Stock Performance - Corteva, Inc. shares have decreased by -6.5% in the past month, contrasting with the Zacks S&P 500 composite's +2.3% performance [10].