10-QPeriod: Q2 FY2026

EIDP, Inc. Quarterly Report for Q2 Ended Jun 30, 2026

Filed July 31, 2026For Securities:CTA-PBCTA-PA

Summary

Corteva, Inc. reported mixed results for the second quarter and first half of 2026. Net sales saw a slight decrease of 1% in Q2 2026 compared to Q2 2025, driven by lower volumes, but a 4% increase for the first half of 2026 compared to the same period in 2025, benefiting from favorable currency impacts and volume growth. Net income attributable to Corteva was $1,161 million for Q2 2026, down from $1,314 million in the prior year quarter, reflecting the overall sales trend and increased expenses. For the first half of 2026, net income was $1,881 million, down from $1,966 million in the prior year period. Operationally, the company announced its intent to separate into two independent, publicly traded companies focusing on its Seed and Crop Protection businesses, a significant strategic development. Restructuring charges related to this intended separation and ongoing optimization programs were noted. The company also continues to manage substantial litigation and environmental liabilities, particularly concerning PFAS, which impacted discontinued operations. Key financial movements include a significant decrease in cash and cash equivalents from the prior year-end, largely due to operational activities and strategic payments. The company's liquidity remains strong, supported by credit facilities and access to capital markets.

Key Highlights

  • 1Announced intent to separate into two independent companies (Seed and Crop Protection businesses) in October 2025.
  • 2Q2 2026 Net Sales decreased 1% to $6,379 million, while first half 2026 Net Sales increased 4% to $11,284 million.
  • 3Q2 2026 Net Income attributable to Corteva decreased to $1,161 million from $1,314 million in Q2 2025.
  • 4Total operating EBITDA for Q2 2026 was $2,261 million, an increase from $2,164 million in Q2 2025.
  • 5Significant ongoing restructuring actions are underway, impacting financial results.
  • 6Cash and cash equivalents decreased significantly to $2,365 million as of June 30, 2026, from $4,521 million at December 31, 2025.
  • 7The company resolved its outstanding litigation with Bayer and made a substantial payment related to this resolution.

Frequently Asked Questions

Corteva announced its intent to separate into two independent, publicly traded companies: one focused on its Seed business and the other on its Crop Protection business. This separation is subject to Board approval and regulatory requirements and is intended to be a tax-free spin-off.

Seed net sales were flat in Q2 2026 compared to Q2 2025, but up 4% for the first half of 2026. Segment operating EBITDA increased by 6% in Q2 and 11% in the first half. Crop Protection net sales decreased by 4% in Q2 2026, but increased by 3% for the first half. Segment operating EBITDA for Crop Protection increased by 2% in Q2 and 9% in the first half.

The company continues to address significant environmental liabilities, particularly those related to PFAS, stemming from legacy EIDP businesses. These are being managed through various settlements, including the MOU with Chemours and DuPont, and the NJ Statewide Settlement. Additionally, the company resolved its dispute with Bayer and faces ongoing legal proceedings such as the FTC lawsuit and the Inari dispute.

Corteva's cash and cash equivalents stood at $2,365 million as of June 30, 2026, a decrease from $4,521 million at year-end 2025. The company has access to approximately $6.1 billion in committed and uncommitted credit lines and maintains access to capital markets, indicating a strong liquidity position to fund operations, capital expenditures, and shareholder returns.