Corteva, Inc. operates in the agriculture business. The company operates through two segments, Seed and Crop Protection. The Seed segment develops and ...
Corteva, Inc. (NYSE: CTVA) is a leading global agricultural company headquartered in Indianapolis, Indiana. It was founded in 1802, with heritage tracing back to DuPont, Dow, and Pioneer Hi-Bred. The company operates through two main segments: Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits ...Corteva, Inc. (NYSE: CTVA) is a leading global agricultural company headquartered in Indianapolis, Indiana. It was founded in 1802, with heritage tracing back to DuPont, Dow, and Pioneer Hi-Bred. The company operates through two main segments: Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that optimize yields, offering traits that enhance resistance to weather, disease, insects, and herbicides, as well as nutritional characteristics. It also provides digital solutions for farmer decision-making. The Crop Protection segment offers products that protect crops from weeds, insects, and diseases, and enhance crop health through nitrogen management and seed-applied technologies, including herbicides, insecticides, and nitrogen stabilizers. Corteva serves customers in the U.S., Canada, Latin America, Asia Pacific, Europe, Middle East, and Africa, supplying the agricultural input industry. With over 21,500 employees and operations in ~110 countries, the company reported 2025 net sales of $17.4B and operating EBITDA of $3.8B. Key people include CEO Chuck Magro, who joined in November 2021, previously serving as President and CEO of Nutrien. Financially, Corteva has a strong balance sheet with a market cap of ~$51.5B, revenue per share of $26.57, and a dividend yield of 0.9%. The company is committed to innovation, investing significantly in R&D (8.4% of revenue) and launching platforms like Corteva Catalyst for partnerships and investments. Corteva aims to deliver profitable solutions for global agriculture challenges while prioritizing sustainability and stakeholder returns.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$17.4B
+2.9%
+30.1%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$1.1B
+20.6%
+61.3%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+47.3%
+8.4%
+5.2%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+15.1%
+21.4%
+27.5%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+6.3%
+17.2%
+24.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$2.8B
+81.8%
+80.2%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+16.2%
+76.7%
+84.8%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
10.7%
-6.0%
+40.7%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.43x
-1.6%
+3.4%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Hello, everyone. Thank you for joining us and welcome to the Corteva Agriscience Second Quarter 26 Earnings Conference Call. After today's prepared remarks, we will host a question-and-answer session. If you would like to ask a question, please press *1 to raise your hand. To withdraw your question, press *1 again. I will now hand the conference over to Kimberly Booth, Head of investor relations. Kimberly, please go ahead.
Kimberly Booth: Good morning, and welcome to Corteva's second quarter and first Half 26 Earnings Conference Call. Our prepared remarks today will be led by Charles Victor Magro, Chief Executive Officer and David P. Johnson, Executive Vice President and Chief Financial Officer. Additionally, Judd O'Connor, Executive Vice President seed business unit, Robert King, Executive Vice President and Strategic Adviser, as well as Luke Kism, future CEO for New Corteva, will join the Q&A session. We have prepared presentation slides to supplement our remarks during this call, which are posted on the Investor Relations section of the Corteva website and through the link to our webcast. During this call, we will make forward looking statements, which are our expectations about the future, These statements are based on current expectations and assumptions that are subject to various risks and uncertainties. Our actual results could materially differ from these statements due to these risks and uncertainties, including, but not limited to, those discussed on this call and in the Risk Factors section of our reports filed with the SEC. We do not undertake any duty to update any forward-looking statement. Please note, in today's presentation, we will be making references to certain non-GAAP financial measures. Reconciliations of the non-GAAP measures can be found in our earnings press release and related schedules, along with our supplemental financial summary slide deck available on our Investor Relations website. It is now my pleasure to turn the call over to Charles.
Charles Victor Magro: Thanks, Kimberly. Good morning, everyone, and thanks for joining us. The headline for this quarter is straightforward. We are delivering strong results, We are raising our full year outlook. And we are on track to complete our separation on October 1. The first half of 26 demonstrated the resilience of our 2 businesses, the value of our technology portfolio and the execution discipline of our teams around the world. In the first half, net sales increased 4% operating EBITDA increased 10%, operating EPS increased 14%. These results reflect strong execution in both seed and crop protection despite a dynamic operating environment. In seed, farmers continue to place a premium on technologies that improve, productivity and returns. That is reflected in the continued demand we are seeing for our latest genetics and trade offerings and the growing contribution from our new licensing business. We saw organic growth across all regions, in the first half, …