Corteva opened 2026 with a sharp earnings beat, posting double-digit sales growth and reaffirming its full-year outlook as it pushes ahead with a major corporate split set for completion later this year.
The agriculture giant reported first-quarter net sales of $4.90 billion, up 11% from a year earlier, powered by strong demand across both its seed and crop protection businesses and gains in every global region. Organic sales rose 7%, while operating EBITDA jumped 21% to $1.44 billion.
GAAP earnings from continuing operations came in at $725 million, or $1.07 per share, up 10% year over year. On an adjusted basis, operating EPS surged 33% to $1.50.
Seed remained the standout performer, with sales climbing 12% to $3.02 billion. Growth was driven by higher volumes in North America and EMEA alongside stronger pricing and favorable currency impacts. The segment’s operating EBITDA rose 23% to $1.03 billion, reflecting improved pricing power, productivity gains, and portfolio strength.
Crop protection also delivered growth, with sales up 10% to $1.88 billion. Volume gains of 6%—driven by demand for new products and seasonal timing shifts—offset a 2% price decline in competitive Latin American markets. Operating EBITDA rose 15% to $434 million.
CEO Chuck Magro credited broad-based momentum and disciplined execution.
“In the first quarter, Corteva delivered a strong start to the year, delivering growth across both businesses and all regions. Our performance reflects a solid start to the season in the Northern Hemisphere coupled with disciplined cost management and continued demand for our advanced technology, all of which allowed us to deliver earnings growth and margin expansion.
"We also made good progress on our separation, naming executive leadership teams for both future companies, filing our initial Form 10, and announcing Vylor, the new name for our future advanced seed and genetics company. We remain focused on launching two strong companies, on track for the fourth quarter, and on delivering our 2026 targets. Our future is bright. ”
The company reaffirmed its full-year 2026 guidance, projecting operating EBITDA of $4.0 billion to $4.2 billion and operating EPS of $3.45 to $3.70. It also plans to repurchase about $500 million in shares during the first half of the year.
Investor attention, however, remains fixed on Corteva’s planned separation. The company is moving toward splitting into two independent businesses by the second half of 2026, with the seed and genetics unit to be named “Vylor.”
Key milestones—including Form 10 effectiveness, capital structure approvals, and board appointments—are expected through the year, with an investor day scheduled for September.
Corteva also disclosed a roughly $1.5 billion pension contribution and estimated $350 million in one-time separation costs.
Despite mixed agricultural market conditions globally, the company signaled continued resilience, citing strong demand for technology-driven seed products and improving crop protection volumes supported by new offerings and tightening supply-demand dynamics.
With solid first-quarter results and a major corporate split underway, Corteva is positioning 2026 as a pivotal year of transformation and growth.
