Corteva, Inc.
For the period ended Jun 30, 2026. Filed Jul 31, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Jul 31, 2026
CTVA$11.90-1.2%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-06.
0001755672-26-000010
Cautionary Statements About Forward-Looking StatementsRecent DevelopmentsOverviewCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-07-31.
0001755672-26-000025
Cautionary Statements About Forward-Looking StatementsRecent DevelopmentsOverviewThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 20 previous paragraphs and 27 current paragraphs.
12 unchanged; 7 reworded; 4 added; 1 removed; 0 previous and 4 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (4)
Current report
On November 5, 2023, management of the company approved a plan to further optimize its Crop Protection network of manufacturing and external partners (the "Crop Protection Operations Strategy Restructuring Program"). On June 12, 2026, the company disclosed that its management recently committed to the next phase of the plan to include the intended cessation of the company's production activities at its site in Asturias, Spain. The intended cessation is subject to a consultation process with the applicable works council and union representatives at the facility. Management revisions were also made to previous estimates associated with the company's exit of its Pittsburg, California production activities. See Note 4 - Restructuring and Asset Related Charges - Net, to the interim Consolidated Financial Statements, for further details.
Current report
•Cost of goods sold totaled$5,090 million in thesix months ended June 30, 2026, down from$5,274 million for thesix months ended June 30, 2025, which wasdriven by reductions in net royalty expense and ongoing cost and productivity actions, partially offset by higher volumes.
Current report
•Restructuring and asset related charges - net were $141 million for the six months ended June 30, 2026, an increase from $101 million for the six months ended June 30, 2025. The charges for the six months ended June 30, 2026 were primarily comprised of severance and related benefit costs under the 2026 Restructuring Actions, along with severance and related benefit costs, asset related charges, decommissioning and demolition costs and contract terminations under the Crop Protection Operations Strategy Restructuring Program.
Current report
•Operating EBITDA was $3,699 million for the six months ended June 30, 2026, up from $3,353 million for the six months ended June 30, 2025, primarily driven bymore favorable pricing and mix, volume growth, reductions in net royalty expense, ongoing cost and productivity actions and favorable impact of currency, partially offset by higher selling, administrative and research and development expenses, including higher bad debt. Refer to the company's non-GAAP financial measures for further discussion.
Removed paragraphs (1)
Previous report
The company expects to incur aggregate pre‑tax restructuring and asset‑related charges of approximately $70 million to $80 million in connection with the 2026 Restructuring Actions, consisting solely of severance and related benefit costs. Reductions in workforce are subject to local regulatory requirements. For the three months ended March 31, 2026, the company recorded pre‑tax restructuring and asset‑related charges of $78 million, which consist entirely of severance and related benefit costs and are classified as corporate‑related charges. At March 31, 2026, the restructuring liability was $78 million.
Reworded paragraphs (7)
Previous wording
•Cost of goods sold totaled $2,372 million in the first quarter of 2026, up from $2,342 million in the first quarter of 2025, which wasdriven by volume growth, with a partial offset from net cost and productivity benefits and net royalty improvement.
Current wording
•Cost of goods sold totaled $2,718 million in thesecond quarter of 2026, down from $2,932 million in thesecond quarter of 2025, which wasdriven by ongoing cost and productivity actions, a reduction in net royalty expense and lower volumes.
Previous wording
•Restructuring and asset related charges - net were $92 million in thefirst quarter of 2026, an increase from $22 million in thefirst quarter of 2025. The charges for the three months ended March 31, 2026 were primarily comprised of severance and related benefit costs associated with the 2026 Restructuring Actions, and contract termination charges and decommissioning and demolition costs associated with the Crop Protection Operations Strategy Restructuring Program.
Current wording
•Restructuring and asset related charges - net were $49 million in the second quarter of 2026, a decrease from $79 million in the second quarter of 2025. The charges for the three months ended June 30, 2026 were primarily comprised of severance and related benefit costs, asset related charges, decommissioning and demolition costs and contract terminations under the Crop Protection Operations Strategy Restructuring Program.
Previous wording
•Income (loss) from continuing operations after income taxes was $725 million, as compared to $667 million in the same quarter last year.
Current wording
•Income (loss) from continuing operations after income taxes was $1,217 million, as compared to $1,382 million in the same quarter last year.
Previous wording
•Operating EBITDA was $1,438 million for the three months ended March 31, 2026, up from $1,189 million for the three months ended March 31, 2025, primarily driven by volume growth, pricing gains, net cost and productivity benefits, net royalty improvement and favorable currency effects, partially offset by higher selling expense and higher compensation. Refer to the company's non-GAAP financial measures for further discussion.
Current wording
•Operating EBITDA was $2,261 million for the three months ended June 30, 2026, up from $2,164 million for the three months ended June 30, 2025, primarily driven bymore favorable pricing and mix, reductions in net royalty expense, ongoing cost and productivity actions and favorable impact of currency, partially offset by lower volumes and higher research and development expenses. Refer to the company's non-GAAP financial measures for further discussion.
Previous wording
•The company reported net sales of $4,905 million, up 11 percent versus the same quarter last year, reflecting a 6 percent increase in volume, a 4 percent favorable impact from currency and a 1 percent increase in price.
Current wording
•The company reported net sales of$11,284 million, up 4 percent versus the same period last year, reflecting a 1 percent increase in volume, a 1 percent increase in price and a 2 percent favorable impact from currency.
Previous wording
In addition to the financial highlights above, the following event occurred during the three months ended March 31, 2026:
Current wording
In addition to the financial highlights above, the following event occurred during the six months ended June 30, 2026:
Previous wording
•The company returned approximately $370 million to shareholders during the three months ended March 31, 2026 under its previously announced share repurchase programs and through common stock dividends.
Current wording
•The company returned approximately $740 million to shareholders during the six months ended June 30, 2026 under its previously announced share repurchase programs and through common stock dividends.
Rearranged current paragraphs (4)
Current report — wording carried from elsewhere
Crop Protection Operations Strategy Restructuring Program
Current report — wording carried from elsewhere
•The company reported net sales of $6,379 million, down 1 percent versus the same quarter last year, reflecting a 3 percent decrease in volume, partially offset by a 1 percent increase in price and a 1 percent favorable impact from currency.
Current report — wording carried from elsewhere
The following is a summary of results from continuing operations for the six months ended June 30, 2026:
Current report — wording carried from elsewhere
•Income (loss) from continuing operations after income taxes was $1,942 million, as compared to $2,049 million in the same period last year.