Corteva Delivers Strong 1H 2025, Raises Full-Year Guidance
Seed 1H results reflect leading North America corn and soybean portfolio market position and operational execution
Crop Protection 1H results driven by broad-based volume growth and ongoing cost improvement
Full-year 2025 guidance3 increased to reflect strong first half performance, incremental benefits on controllable levers, and growth platforms
Share buyback program and dividend increase demonstrate strong balance sheet and cash flow
INDIANAPOLIS, Aug. 6, 2025 /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) ("Corteva" or the "Company") today reported financial results for the second quarter and six months ended June 30, 2025.
2Q 2025 Results Overview
Net Sales
Inc. from Cont. Ops (After Tax)
EPS
GAAP
$6.46B
$1.38B
$2.02
vs. 2Q 2024
6 %
31 %
34 %
Organic1 Sales
Operating EBITDA1
Operating EPS1
NON-GAAP
$6.54B
$2.16B
$2.20
vs. 2Q 2024
7 %
13 %
20 %
1H 2025 Results Overview
Net Sales
Inc. from Cont. Ops (After Tax)
EPS
GAAP
$10.87B
$2.05B
$2.98
vs. 1H 2024
3 %
43 %
47 %
Organic1 Sales
Operating EBITDA1
Operating EPS1
NON-GAAP
$11.15B
$3.35B
$3.33
vs. 1H 2024
5 %
14 %
22 %
First Half 2025 Highlights
Net sales increased 3% versus prior year. Organic1 sales increased 5% in the same period with gains in all regions.
Seed net sales increased 2% and organic1 sales increased 5%. Price was up 3% led by North America2 and EMEA2 with continued execution on the Company's price for value strategy. Volume increased 2%, primarily reflecting increased corn area in North America2.
Crop Protection net sales increased 3% and organic1 sales increased 6%. Volume increased 8%, driven by demand for new products and biologicals. Price declined 2% primarily due to the market dynamics in Latin America.
GAAP income and earnings per share (EPS) from continuing operations were $2.05 billion and $2.98 per share, respectively.
Operating EBITDA1 and Operating EPS1 were $3.35 billion, and $3.33 per share, respectively.
The Company updated full-year 2025 guidance3 and expects net sales in the range of $17.6 billion to $17.8 billion. Operating EBITDA1 is expected to be in the range of $3.75 to $3.85 billion. Operating EPS1 is expected to be in the range of $3.00 to $3.20 per share.
The Company expects to repurchase approximately $1 billion of shares during 2025.
1. Organic Sales, Operating EPS, and Operating EBITDA are non-GAAP measures. See page 6 for further discussion. 2. North America is defined as U.S. and Canada. EMEA is defined as Europe, Middle East and Africa. 3. The Company does not provide the most comparable GAAP measure on a forward-looking basis. See page 5 for further discussion.
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"In the second quarter, farmers' drive to get the most out of every acre led to higher demand for our best-in-class seed and crop protection solutions. Coupled with our continued focus on cost discipline and operational excellence, this resulted in impressive margin expansion for the quarter. Turning to the first half of the year, growth platforms, cost discipline as well as our leadership of the North America corn and soybean market helped us deliver results that exceeded our expectations.
While we continue to navigate a fluid macro environment, we are raising our full year guidance as a result of the strength of our global business and the setup for our Latin American business in the second half. This stronger view of 2025 also underscores our confidence in delivering our 2027 financial framework, and in the value our business offers, both in the short- and long-term."
Chuck MagroChief Executive Officer
_________________________________________________________________________
Summary of Second Quarter 2025For the second quarter ended June 30, 2025, net sales increased 6% versus the same period last year. Organic1 sales increased 7%.
Volume was up 6% versus prior year on growth in both Crop Protection and Seed. Crop Protection volume increased 11% over the prior year driven primarily by Latin America on demand for new products, fungicides, spinosyns, and biologicals. Seed volume increased 3% versus prior year due primarily to increased corn area and share gains in North America.
Price was up 1% versus prior year, reflecting higher Seed pricing, partially offset by competitive price dynamics in Crop Protection, primarily in Latin America.
GAAP income from continuing operations after income taxes was $1.38 billion in second quarter of 2025 compared to $1.06 billion in second quarter of 2024. Operating EBITDA1 for the second quarter of 2025 was $2.16 billion, up 13% compared to prior year, translating into approximately 215 basis points of Operating EBITDA1 margin improvement.
2Q
2Q
%
%
($ in millions, except where noted)
2025
2024
Change
Organic1 Change
Net Sales
$6,456
$6,112
6 %
7 %
North America
$4,629
$4,400
5 %
6 %
EMEA
$747
$673
11 %
13 %
Latin America
$672
$650
3 %
11 %
Asia Pacific
$408
$389
5 %
6 %
1H
1H
%
%
($ in millions, except where noted)
2025
2024
Change
Organic1 Change
Net Sales
$10,873
$10,604
3 %
5 %
North America
$6,839
$6,487
5 %
6 %
EMEA
$2,224
$2,261
(2) %
3 %
Latin America
$1,114
$1,165
(4) %
6 %
