NYSE:CTVA

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Corteva Falls 8.5% After Hours as Brazil Weakness Drives Guidance Cut

Corteva (NYSE: CTVA) shares fell about 8.5% in after-hours trading after the company reported weaker third-quarter sales and earnings and lowered its full-year 2026 outlook, citing significantly softer Crop Protection conditions in Brazil.

Third-quarter net sales declined 9% year over year to $1.59 billion, while organic sales also fell 9%. Volume decreased 2% and pricing declined 7%, with the pressure concentrated in Brazil and U.S. acetochlor.

Latin America was the main weak point. Organic sales in the region fell 31%, with volume down 24% due to elevated channel inventories, delayed purchasing, tight farmer liquidity and high interest rates. Pricing declined 7% amid competitive pressure on mature molecules.

Elsewhere, performance was considerably stronger. North America organic sales rose 7%, helped by 19% volume growth, while EMEA organic sales increased 14% and Asia Pacific grew 5%.

Profitability also weakened. Corteva posted a pro forma GAAP loss from continuing operations of $54 million versus $60 million of income a year earlier. Adjusted pro forma operating EBITDA fell 17% to $222 million, while adjusted operating EPS dropped 57% to $0.06.

For the first nine months, net sales declined 1% to $5.36 billion and adjusted operating EBITDA was roughly flat at $943 million.

Corteva now expects full-year adjusted pro forma operating EBITDA of $1.10-$1.125 billion and adjusted operating EPS of $0.76-$0.80, reflecting the deterioration in Brazil.

The 8.5% after-hours decline appears to reflect the weaker Brazil outlook, sharp third-quarter earnings deterioration and reduced full-year expectations, which outweighed resilient demand for newer products in North America, EMEA and Asia Pacific.
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Corteva and Inari Reach Settlement in Seed Technology Lawsuit

Corteva and Inari have reached a confidential settlement resolving a lawsuit filed by Corteva in September 2023 over access to and use of seed materials.

Under the agreement, Inari will destroy Corteva material it obtained from seed depositories, along with material developed from those deposits. Inari will also assign to Corteva intellectual property related to edited versions of Corteva events.

The companies also agreed to negotiate certain licensing arrangements, while the remaining terms of the settlement will remain confidential.

Corteva said the case reinforces the importance of patent and plant variety protection systems in agricultural innovation, as well as the rules governing access to biological materials held in patent depositories.

Both companies said compliance with patent law, contractual obligations and rules covering deposited biological material is important to maintaining investment and collaboration in seed development.

The settlement closes a multi-year legal dispute while potentially opening the door to future licensing arrangements between Corteva and Inari.
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Corteva’s Vylor Targets $1 Billion in Wheat Revenue With New Hybrid Technology

Corteva (NYSE: CTVA) said Vylor, its planned seed and genetics spin-off, will launch its proprietary Xpedite hybrid wheat technology in late 2027. The announcement comes ahead of Vylor’s planned separation from Corteva on October 1.

Vylor expects the technology to significantly expand its North American wheat business, forecasting $500 million in wheat revenue by 2035 and $1 billion by 2040, including licensing revenue. Wheat is expected to become Vylor’s third major business pillar alongside corn and soybeans.

According to company trials, the non-GMO hybrid wheat can increase yield potential by about 10% using the same amount of land and resources. Under water-stressed conditions, yields were as much as 20% higher than elite conventional varieties. Vylor also expects the technology to double the annual rate of genetic improvement versus conventional wheat by 2040.

Vylor plans to launch Hard Red Winter wheat in North America in 2027, followed by Soft Red Winter in 2029 and Hard Red Spring in 2030, with further international expansion planned through licensing and partnerships.
Corteva Board Approves Vylor Spin-Off, Sets October 1 Distribution

Corteva’s board approved the separation of its seed business into Vylor Inc., clearing the way for the creation of two independent publicly traded agricultural companies.

Under the distribution, Corteva shareholders of record at the close of business on September 24 will receive one Vylor share for every Corteva share they own. The distribution is expected before the U.S. market opens on October 1 and is intended to be tax-free for U.S. federal income tax purposes, except for cash paid in lieu of fractional shares.

Vylor shares are expected to begin “when-issued” trading on the NYSE under the ticker VYLR WI on September 25, followed by regular trading under VYLR beginning October 1. Corteva shareholders do not need to take any action to receive their Vylor shares.

Vylor will operate as a standalone seed and genetics company focused on advanced germplasm, biotechnology and next-generation agricultural technologies. Following the separation, Corteva will continue as an independent agricultural company with its remaining businesses, including crop protection and biological solutions.

The separation is intended to give the two businesses greater strategic and financial flexibility, allowing investors to value Corteva and Vylor independently based on their different growth profiles and capital requirements.
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Corteva and Globachem Form 50/50 Joint Venture to Develop New Crop Protection Solutions

Corteva (NYSE: CTVA) and Belgium-based Globachem entered into a definitive agreement to establish a 50/50 joint venture focused on developing and commercializing new crop protection products across Europe and the Americas.

The independently operated venture will combine late-pipeline and commercial-stage technologies from both companies to develop, register and market differentiated crop protection solutions. Products developed through the partnership may ultimately be commercialized independently by either or both parent companies.

The agreement expands an existing multi-year partnership between Corteva and Globachem, combining Corteva’s crop protection pipeline and discovery capabilities with Globachem’s expertise in formulation, product development and regulatory execution.

Corteva said the collaboration will also help strengthen its portfolio as it prepares for its planned separation into a standalone crop protection company.

New products developed by the venture are expected to reach the market in the early 2030s through established commercial channels. The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals.
Vylor Launches Investment Platform Targeting AI, Gene Editing and Next-Generation Agricultural Technology

Vylor, the advanced seed and genetics company set to spin off from Corteva (NYSE: CTVA), has launched Vylor Edge, a new investment platform focused on accelerating innovation across global agriculture.

The platform will invest in and form strategic partnerships with startups, entrepreneurs, universities and other participants in the agricultural technology ecosystem. Vylor is scheduled to separate from Corteva on October 1, 2026.

Vylor Edge will initially target several high-growth technology areas, including gene editing and advanced breeding, protein engineering, artificial intelligence and digital technology platforms. The company also plans to explore technologies outside those areas when they can be applied to agriculture or Vylor’s broader operations.

The initiative effectively gives the soon-to-be-independent Vylor a corporate venture and strategic investment arm. Beyond providing capital, Vylor plans to offer portfolio companies access to its research and development expertise, global operations and commercial infrastructure, potentially helping early-stage agricultural technologies move from development toward commercialization.

Vylor Edge will not start from scratch. Investments and collaborations previously held within Corteva Catalyst will transition to the new platform as part of the Vylor separation. Vylor plans to continue supporting those existing partnerships while adding new investments.

The launch provides an early indication of Vylor’s technology strategy ahead of its separation from Corteva. By targeting AI, gene editing, advanced breeding and protein engineering, the company is positioning external innovation alongside its internal seed and genetics R&D capabilities, potentially expanding its access to emerging technologies without having to develop every platform internally.
Corteva Stock Slips Despite Raised Full-Year Outlook and Strong First-Half Performance

Corteva (NYSE: CTVA) shares edged 1.25% lower in premarket trading on Friday despite the agricultural technology company reporting solid first-half results, raising its full-year guidance and reaffirming plans to complete its planned business separation on October 1.

Second-quarter net sales declined 1% year over year to $6.38 billion, while organic sales slipped 2%. However, the company delivered stronger profitability, with operating EBITDA rising 4% to $2.26 billion and adjusted operating EPS increasing 5% to $2.30, supported by margin expansion and disciplined cost management.

## Seed Business Continues to Drive Growth

Corteva's Seed business remained the primary growth engine. Strong demand for next-generation seed technologies, improved pricing and higher licensing revenue helped offset lower planting volumes caused by acreage shifts and seasonal timing. Seed operating EBITDA increased 6% in the quarter, with margins improving by more than 230 basis points.

The Crop Protection segment continued to face competitive pricing pressure, particularly in Latin America, but productivity initiatives and demand for newer products supported profitability. Segment operating EBITDA increased 2% despite a decline in sales.

## Company Raises 2026 Guidance

Reflecting its strong first-half execution, Corteva increased its full-year 2026 outlook. The company now expects operating EBITDA between $4.1 billion and $4.3 billion and operating EPS of $3.60 to $3.80. Management also reiterated that the planned separation, including the Vylor spin-off, remains on track for October 1, 2026.

## What to Watch

The modest premarket decline suggests investors focused on softer second-quarter sales rather than the improved earnings outlook. Going forward, markets will monitor demand for Corteva's premium seed technologies, pricing conditions in Crop Protection, execution of the planned separation and the company's ability to deliver on its raised full-year guidance.
Corteva, Inc. (NYSE: CTVA) announced a common stock dividend of $0.18 cents per share, payable June 15, 2026, to the Company’s shareholders of record on June 1, 2026.
Corteva announced that its Board of Directors approved a quarterly common stock dividend of $0.18 per share. The dividend will be paid on March 16, 2026, to shareholders of record as of March 2, 2026.

Separately, EIDP, Inc., a wholly owned subsidiary of Corteva and formerly known as E. I. du Pont de Nemours and Company, declared regular preferred stock dividends. The company approved a dividend of $1.12½ per share on its $4.50 series preferred stock and $0.87½ per share on its $3.50 series preferred stock. Both preferred dividends are payable on April 24, 2026, to stockholders of record on April 2, 2026.

Source: Company announcement
Corteva and bp announced the launch of Etlas, a 50:50 joint venture focused on producing biofuel feedstocks from crops such as canola, mustard, and sunflower to support sustainable aviation fuel and renewable diesel production. The venture targets annual feedstock output of around one million metric tonnes by the mid-2030s, with initial supply expected in 2027, leveraging Corteva’s seed technology expertise and bp’s downstream fuel capabilities to meet rising global biofuel demand.