Corteva shares fell about 8% in after-hours trading on Wednesday after the crop protection company reported a 9% drop in third-quarter sales and updated its full-year outlook, citing a much weaker market in Brazil. The stock traded at about $11.20, down from its regular-session close of $12.14, according to publicly reported prices. It had closed at $12.17 on Tuesday.
Net sales fell to $1.591 billion in the three months through September from $1.742 billion a year earlier on a pro forma basis, the company said. Prices fell 7%, which Corteva attributed to competitive pressure on older products in Brazil and on the weedkiller acetochlor in the U.S., while volume fell 2%. Sales in Latin America dropped 28% as Brazilian farmers faced tight finances and high interest rates and dealers held too much stock. Sales rose 7% in North America, 12% in Europe, the Middle East and Africa, and 3% in Asia Pacific.
Corteva posted a pro forma loss from continuing operations of $54 million, compared with income of $60 million a year earlier. Adjusted pro forma operating EBITDA fell 17% to $222 million.
The company now expects 2026 adjusted pro forma operating EBITDA of $1.1 billion to $1.125 billion and adjusted pro forma operating earnings of 76 to 80 cents a share. Farmer cash constraints, high financing costs and pricing pressure in Brazil “have resulted in a significantly softer market than previously anticipated,” Corteva said.
These are Corteva’s first quarterly results since it spun off its seed business as Vylor on Oct. 1, leaving Corteva focused on crop protection. On Tuesday, Corteva told regulators it would file its quarterly report a few days late because of extra work tied to the separation. It will discuss the results with investors at 10:30 a.m. Eastern time on Thursday.
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