10-K · February 12, 2026
Corteva describes itself as a global leader in seed and crop protection with a broad product pipeline and presence in approximately 110 countries, and announced on October 1, 2025 its intent to separate Seed and Crop…
Earnings analysis · 10-Q
CTVA earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Corteva, Inc. reported strong Q1 2026 earnings with revenue of $4.90 billion, an 11% increase from the previous period, and EPS of $1.50, beating estimates. The Seed segment outperformed with 12% growth, while Crop…
Read full summary
Corteva, Inc. reported strong Q1 2026 earnings with revenue of $4.90 billion, an 11% increase from the previous period, and EPS of $1.50, beating estimates. The Seed segment outperformed with 12% growth, while Crop Protection grew 10%, further supported by favorable currency impacts. A substantial $370 million was returned to shareholders during the quarter, highlighting Corteva's robust cash flow management despite a significant restructuring charge.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.5
- Gross margin
- 48%
- Segment
- Seed: $3,023 million, Crop Protection: $1,882 million
What stood out
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Revenue Growth Beat
Reported revenue was $4,905 million, up 11% year-over-year, exceeding the forecast of $4,640 million.
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Strong EPS Performance
EPS for Q1 2026 stood at $1.50, outperforming estimates of $1.18 and reflecting a solid growth trend.
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Seed Segment Leads Growth
Seed segment revenue reached $3,023 million, up 12% versus $2,707 million a year ago, driven by significant volume increases.
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Solid Operating EBITDA
Operating EBITDA increased to $1,438 million for Q1 2026, up from $1,189 million in the same period last year.
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Cash Returns to Shareholders
Corteva returned approximately $370 million to shareholders, continuing its commitment to capital return.
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Effective Tax Rate Improvement
Effective tax rate for Q1 2026 was 15.5%, aided by net tax benefits of $35 million from intellectual property realignment.
What to watch
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Increased Debt Levels
Total debt rose to $3,356 million from $2,580 million at the end of 2025, reflecting a need to fund working capital.
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Restructuring Costs
Incurring pre-tax restructuring charges of $92 million in Q1 2026, significantly higher than $22 million in Q1 2025.
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Operating Cash Flow Decline
Operating cash flow was $(2,885) million in Q1 2026, worsening from $(2,101) million in Q1 2025, driven by increased compensation payments.
Management's outlook
The company reaffirmed its full-year 2026 guidance with operating EBITDA expected between $4.0 billion to $4.2 billion and EPS anticipated in the range of $3.45 to $3.70.
Earlier filings 4
10-K · February 14, 2025
Corteva positions itself as a global leader in Seed and Crop Protection with a broad innovation pipeline and sales footprint in approximately 110 countries, supported by about 22,000 employees and a large patent estate…
10-Q · May 2, 2024
Corteva reported Q1 net sales of $4,492 million, down $392 million (-8.0%) versus Q1 2023, with GAAP diluted EPS of $0.60. Seed sales grew to $2,751 million while Crop Protection fell to $1,741 million; gross margin…
10-K · February 9, 2023
Corteva positions itself as a global leader in seeds and crop protection with “one of the broadest and most productive new product pipelines in the agriculture industry,” serving farmers in approximately 140 countries.…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.