Corteva Stock Plunges 24% as Brazil Weakness Hits Quarterly Results and Outlook
Third-quarter net sales fell 9%, and the company updated full-year guidance to reflect a softer Brazil crop protection market.
Key points
- Shares fell 24.3% Thursday after Q3 results and a lower full-year outlook tied to Brazil
- Q3 net sales of $1.59 billion fell 9%; Latin America organic sales dropped 31%
- Q3 GAAP loss from continuing operations was $54 million, versus $60 million profit a year earlier
- 2026 adjusted EBITDA guidance is now $1.1 billion to $1.125 billion
Corteva (NYSE: CTVA) shares fell 24.3% on Thursday, Nov. 12, 2026, closing at $9.19 from a previous close of $12.14, after the company reported third-quarter results and lowered its full-year outlook in a filing that day. The S&P 500 ETF (SPY) moved -0.35% in the same session, and volume ran at 3.3 times its usual level.
The company filed an 8-K on Nov. 12 that furnished its earnings press release as Exhibit 99.1 and included unaudited pro forma combined financial statements as Exhibit 99.3. The filing said results were released on Nov. 11.
Latin America pulls sales lower
Third-quarter net sales were $1.59 billion, down 9% from a year earlier. Latin America organic sales fell 31%, with volumes down 24% amid elevated channel inventory and delayed purchasing by farmers facing liquidity constraints and high interest rates. Pro forma GAAP results from continuing operations were a loss of $54 million, compared with income of $60 million in the same quarter of 2025. Adjusted pro forma operating EBITDA was $222 million, down 17%.
North America and EMEA grew organically, and Asia Pacific rose 5%, but the company said those gains did not offset the Brazil decline.
Guidance reflects a weaker Brazil market
The company updated its 2026 guidance, citing market conditions that are more challenging than previously anticipated, particularly in Brazil. It now expects adjusted pro forma operating EBITDA of $1.1 billion to $1.125 billion and adjusted pro forma operating EPS of $0.76 to $0.80 per share. Corteva said demand for its new products remained strong, and that the U.S. acetochlor pricing was consistent with its expectations.
Restructuring and a first dividend since the spin-off
Corteva expects about $130 million to $140 million in net pre-tax restructuring charges during 2026 to optimize its crop protection manufacturing network, with that work expected to be substantially complete in 2028. Its board also authorized the first common dividend since the separation of its Seed business.
The company scheduled a conference call on Nov. 12 at 10:30 a.m. ET to discuss the results.
Sources
Written with AI from SEC filings and market data, and checked against those sources before publishing. Our editorial standards.
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More on Corteva
CTVA page →Filings, figures and price history are on the Corteva page.