Corteva Q3 2026 earnings review

Q3 net sales fell 9% to $1,591M, below consensus, and Brazil weakness drove an outlook update.

Corteva, Inc. · Q3 2026 · Published Nov 12, 2026 · By DeepCell AI · Sources

Corteva Q3 2026 earnings review

Quarter ended September 30, 2026; Adjusted Pro Forma basis

For information only, not investment advice. No rating or price target.

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1 · Corteva (CTVA) Q3 2026 earnings review

Q3 net sales fell 9% to $1,591M, below consensus, and Brazil weakness drove an outlook update

  1. 1.Net sales were $1,591M against $1,770M FactSet consensus (rounded)
  2. 2.Operating EPS was $0.06 against $0.10 consensus; pro forma GAAP loss was $54M
  3. 3.Latin America net sales fell 28% to $570M; North America and EMEA grew
  4. 4.2026 operating EBITDA guidance is $1,100M to $1,125M; operating EPS $0.76 to $0.80
  5. 5.Shares were -12.4% in pre-market at $10.64 (9:04 AM EST), not a close

Note: EBITDA is earnings before interest, taxes, depreciation and amortization; EMEA is Europe, Middle East and Africa. Figures are Adjusted Pro Forma as defined in the release. The release has no income statement, balance sheet or cash flow tables. The Investing.com EPS estimate is $0.10; the FactSet revenue estimate of $1.77B is rounded. Pre-market is not a close.Source: Corteva official Q3 2026 earnings press release, Nov 11, 2026; Investing.com and MarketScreener (FactSet), Nov 11, 2026; CNBC, Nov 12, 2026 9:04 AM EST

2

2 · Executive summary

Q3 operating EPS of $0.06 and net sales of $1,591M both missed consensus

Q3 2026 earnings vs. consensus (Nov 11, 2026)

MetricActualConsensusVarianceResult
Q3 operating EPS$0.06$0.10-0.04 / -40.0%Miss
Q3 net sales$1,591M$1,770M-$179M / -10.1%Miss

Share price, Nov 11 regular close and Nov 12 pre-market last

Corteva, Inc. (NYSE)Nov 10 closeNov 11 closeNov 12 pre-market, 9:04 AM ESTChange vs close (%)
CTVA$12.17$12.14$10.64-12.4%

Prices are from the CNBC quote page, fetched at 9:05 AM EST on Nov 12, 2026. Pre-market last is not a close. CNBC does not state a reason for the move.

Note: EPS consensus is the Investing.com figure ($0.10) for adjusted EPS; revenue consensus is FactSet via MarketScreener ($1.77B, rounded to $0.01B), so the revenue variance is approximate. Pro forma figures reflect the company’s separation, so prior-quarter guidance is not comparable.Source: Corteva official Q3 2026 earnings press release, Nov 11, 2026; Investing.com and MarketScreener (FactSet), Nov 11, 2026; CNBC, Nov 12, 2026 9:04 AM EST

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3 · Q3 results vs. consensus

Corteva updated 2026 guidance to $1,100M–$1,125M operating EBITDA, citing weaker Brazil

2026 Adjusted Pro Forma guidance (updated Nov 11, 2026)

MetricLowHigh
Operating EBITDA ($M)$1,100M$1,125M
Operating EPS ($)$0.76$0.80

Nine-month progress against guidance

MetricNine months 2026
Operating EBITDA ($M)$943M
Operating EPS ($)$0.76

Note: EBITDA is earnings before interest, taxes, depreciation and amortization. The company says Brazil was materially weaker than anticipated because of farmer liquidity constraints and high interest rates. The release does not state the prior post-separation guidance range, so no change from it is shown.Source: Corteva official Q3 2026 earnings press release, Nov 11, 2026; analysis of company data

4

4 · 2026 guidance

Net sales were $1,591M, down from $1,742M a year earlier, as volume fell 2% and price fell 7%

Net sales

$M, Q3 2025 vs Q3 2026

v · Q3 2025: $1,742Mv · Q3 2026: $1,591MQ3 2025Q3 2026$0M$500M$1,000M$1,500M$2,000M$1,742M$1,591M
“We executed well against the things we can control… Brazil was materially weaker than anticipated.” Luke Kissam, CEO

Note: Organic sales fell 9% in the quarter, as stated. Price declined 7% on competitive pressure for late-lifecycle molecules in Brazil and U.S. acetochlor.Source: Corteva official Q3 2026 earnings press release, Nov 11, 2026; analysis of company data

5

5 · Net sales

Latin America net sales fell 28% to $570M

Latin America net sales

$M, Q3 2025 vs Q3 2026

v · Q3 2025: $791Mv · Q3 2026: $570MQ3 2025Q3 2026$0M$250M$500M$750M$900M$791M$570M
Latin America volume fell 24% on high channel inventory and delayed purchasing; price fell 7%

Note: Organic sales in Latin America fell 31% (reported −28%). The company links the volume decline to elevated channel inventory, farmer liquidity constraints and high interest rates.Source: Corteva official Q3 2026 earnings press release, Nov 11, 2026; analysis of company data

6

6 · Latin America

Adjusted operating EBITDA fell 17% to $222M, a 140 basis point margin decline

Adjusted operating EBITDA

$M, Q3 2025 vs Q3 2026

v · Q3 2025: $268Mv · Q3 2026: $222MQ3 2025Q3 2026$0M$100M$200M$320M$268M$222M
Pro forma GAAP loss from continuing operations was $54M, compared with income of $60M a year earlier; GAAP EPS was ($0.08)

Note: EBITDA is earnings before interest, taxes, depreciation and amortization. Operating EBITDA is an Adjusted Pro Forma non-GAAP measure defined in the release. The 140 basis point margin erosion is as stated. The 14.0% margin in the appendix is operating EBITDA divided by net sales (DeepCell calculation).Source: Corteva official Q3 2026 earnings press release, Nov 11, 2026; analysis of company data

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7 · Operating EBITDA

North America net sales rose 7% and EMEA rose 12%, but Latin America fell 28%

  1. North America grew on new productsNet sales were $574M; organic sales rose 7% on volume growth of 19%, despite U.S. acetochlor price pressure.
  2. EMEA and Asia Pacific grewEMEA net sales were $239M (organic 14%); Asia Pacific was $208M (organic 5%).
  3. Latin America was the dragNet sales were $570M, with organic sales down 31%; Brazil conditions drove the outlook update.

Net sales by region

$MQ3 2025Q3 2026
North America$537M$574M
EMEA$213M$239M
Latin America$791M$570M
Asia Pacific$201M$208M
Total net sales$1,742M$1,591M

Note: EMEA is Europe, Middle East and Africa. North America is the U.S. and Canada. Organic sales exclude currency and portfolio effects. Regions sum to total net sales (check on the Regional net sales sheet).Source: Corteva official Q3 2026 earnings press release, Nov 11, 2026; analysis of company data

8

8 · Regional net sales

Brazil demand, crop protection pricing and pro forma comparability are the main watch items

Indicator
What to watch
Implication
Latest reading
Brazil farmer liquidity
Management says Brazil was materially weaker than anticipated and drove the guidance update
Volume in Latin America fell on channel inventory and delayed purchasing
Latin America down 28% YoY
Late-lifecycle molecule pricing
Price fell 7% in Q3 on competitive pressure in Brazil and U.S. acetochlor
Acetochlor pricing was in line with the company’s expectations
Price down 7%
Pro forma basis
Figures are Adjusted Pro Forma after the separation; the company filed an NT 10-Q on Nov 10, 2026
Full statements were not in the release
Operating EPS $0.06

Source: Corteva official Q3 2026 earnings press release, Nov 11, 2026; analysis of company data

9

9 · Key risks to the outlook

10 · Appendix: Pro forma results

11 · Appendix: Nine-month results

Appendix: regional net sales detail

Net sales by region

$M unless notedQ3 2025Q3 2026YoY
North America$537M$574M6.9%
EMEA$213M$239M12.2%
Latin America$791M$570M(27.9%)
Asia Pacific$201M$208M3.5%

Totals

$M unless notedQ3 2025Q3 2026YoY
Net sales$1,742M$1,591M(8.7%)
Operating EBITDA$268M$222M(17.2%)
Income (loss), continuing operations$60M($54M)n.m.

Note: EBITDA is earnings before interest, taxes, depreciation and amortization; EMEA is Europe, Middle East and Africa. n.m. means a percentage change is not meaningful because the sign changed. YoY rates in this appendix are DeepCell calculations from the stated figures.Source: Corteva official Q3 2026 earnings press release, Nov 11, 2026; analysis of company data

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12 · Appendix: Regional detail

Appendix: sources

  • Results release, Q3 2026 (official company press release, Nov 11, 2026 16:30 ET) — https://www.prnewswire.com/news-releases/corteva-reports-third-quarter-2026-results-updates-fy-2026-outlook-302936913.html
  • Corteva investor relations quarterly earnings reports page — https://investors.corteva.com/financial-information/quarterly-earnings-reports
  • Consensus: Investing.com (adjusted EPS $0.10) — https://www.investing.com/news/earnings/corteva-shares-fall-6-on-worsethanexpected-q3-results-93CH-5019947 ; MarketScreener Earnings Flash (FactSet revenue $1.77B, rounded) — https://it.marketscreener.com/notizie/flash-sugli-utili-ctva-corteva-inc-comunica-un-fatturato-di-1-59-mrd-usd-nel-terzo-trimestre-co-ce785edbd18ff120
  • Share price: CNBC CTVA quote, Nov 10 close $12.17, Nov 11 close $12.14 and Nov 12 pre-market last $10.64 at 9:04 AM EST — https://www.cnbc.com/quotes/CTVA
  • Corteva filed a Form NT 10-Q on Nov 10, 2026, and the release carries no full financial statements, so this deck uses only the figures stated in the release body. Figures are Adjusted Pro Forma unless labelled GAAP pro forma, in millions of U.S. dollars.
  • Chart and table values link to the model in the spreadsheet tabs of this file.

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13

13 · Sources

Important disclosures and disclaimer

For information only. This presentation is provided for information only. It is not investment, legal, tax or accounting advice, and it is not an offer, or a solicitation of an offer, to buy or sell any security.

No recommendation. It carries no rating, price target or buy, sell or hold view, and it was prepared without regard to any reader’s investment objectives, financial situation or needs.

Sources and accuracy. Company figures come from Corteva, Inc.’s official third-quarter 2026 press release dated November 11, 2026. A Form 10-Q had not been filed at the time of writing. Consensus (Investing.com, FactSet via MarketScreener) and share prices (CNBC) are third-party data, credited on the sources page.

Basis of presentation. Figures are pro forma for the company’s separation as presented in the release, in U.S. dollars, for the quarters ended September 30, 2026 and 2025 and the nine months then ended.

Date of analysis. Share prices are the CNBC regular-session close on November 11, 2026 and the Nov 12 pre-market last at 9:04 AM EST. Pre-market last is not a close.

Forward-looking statements. Company commentary, guidance, consensus estimates and the watch items in this deck are forward-looking and may not be achieved. Readers should check the figures against the original release.

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14

14 · Disclosures

Sources

Not investment advice; no rating or price target.

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