Corteva Q3 revenue misses estimates as Brazil weakness prompts guidance cut

Corteva reported third quarter revenue of $1.59 billion, missing Wall Street estimates of $1.77 billion, as deteriorating agricultural market conditions in Brazil weighed on sales and prompted the company to cut its 2026 earnings outlook, according to its financial results released Wednesday.

Revenue declined 9% from $1.74 billion a year earlier on a pro forma basis. Adjusted earnings reached $0.06 per share, below analyst estimates of $0.10. The company recorded a GAAP loss from continuing operations of $54 million, compared with a $60 million profit a year earlier.

Latin American organic sales fell 31%, driven by lower demand in Brazil as elevated financing costs, tight farmer liquidity and excess inventories delayed purchasing decisions. The decline offset organic sales growth of 7% in North America, 14% in Europe, the Middle East and Africa, and 5% in Asia Pacific.

Adjusted operating EBITDA declined 17% to $222 million, with margins falling 140 basis points to 14%.

Corteva lowered its full year adjusted operating EBITDA forecast to between $1.1 billion and $1.125 billion, down from approximately $1.3 billion previously. The company now expects adjusted earnings of $0.76 to $0.80 per share.

CEO Luke Kissam said conditions in Brazil deteriorated faster and more severely than anticipated, with elevated inventories expected to reduce 2026 operating profit by approximately $100 million.

Corteva shares fell more than 20% on Thursday, reaching their lowest level in more than a year following the earnings release.

The results mark Corteva’s first quarterly report since separating its seed and genetics business into Vylor on October 1, leaving the company focused on crop protection products.