Corteva Q2 FY2026: sales dip 1.2%, margins expand, adjusted EPS beats
Corteva's fiscal 2026 second quarter was a margin story, not a growth story: revenue slipped 1.2% to $6.38 billion, yet gross margin jumped to 57.4% and adjusted EPS of $2.30 edged past the $2.27 consensus. The catch is that GAAP EPS was just $1.73 and the first half burned cash. View: Neutral.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $1.73, down from $1.92 a year ago, dragged by $79 million of separation costs, an $85 million significant-items charge and higher intangible amortization. Operating EPS, which excludes all of that, rose to $2.30 from $2.20 and came in roughly $0.03 above the $2.27 consensus. That $0.57 gap between the two EPS numbers is the single most important thing to read carefully here.
Revenue was $6.38 billion, down 1.2% from $6.46 billion a year earlier. Organic sales, which strip out currency and portfolio effects, fell 2% to $6.32 billion, so this was a volume and mix shortfall, not a pricing collapse. Seed was flat at $4.53 billion while Crop Protection dropped 3.8% to $1.85 billion.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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