Corteva shares fall 6.4% after quarterly results miss forecasts and 2026 outlook is cut
Key Facts
Corteva shares fell 6.4% to $11.36 in after-hours trading on November 11, 2026, after the company reported third-quarter results below market estimates, according to a Reuters report published via Investing.com. Adjusted earnings per share were $0.06, versus a consensus estimate of $0.10, while sales were $1.59 billion compared with expectations of $1.77 billion. The stock closed the regular session at $12.14, according to EL7 daily data. The pressures cited by the company centered on a decline in Latin America, particularly Brazil, while other regions posted organic growth. Corteva lowered its full-year 2026 outlook, attributing the update mainly to a deteriorating Brazilian market.
Year over year, third-quarter net sales fell 9% to $1.591 billion from $1.742 billion in the same period of 2025. The revenue decline was accompanied by a 2% drop in sales volume and a 7% decline in prices, according to Corteva data. Adjusted earnings per share of $0.06 came in below the $0.10 consensus, while reported sales also missed the $1.77 billion estimate. The results came in a quarter marked by a sharp regional divide: Latin America saw the steepest contraction, while North America and Europe, the Middle East and Africa posted organic growth. The results showed that regional pressures coincided with declines in volume and prices across the company.
Latin America was the center of the decline, with organic sales falling 31% to $570 million in the third quarter of 2026 from $791 million a year earlier. Sales volume in the region fell 24%, while prices and mix declined 7%, according to company data. Corteva attributed the volume decline to higher channel inventories and delayed purchases, alongside farmers' liquidity constraints and elevated interest rates in Brazil. The company also said prices fell under competitive pressure on mature products. Corteva thus linked the region's weak results to distribution inventories, purchasing capacity and competition, rather than attributing them to unspecified broad pressure across the agricultural sector.
By contrast, North America posted 7% organic sales growth, with sales volume up 19% on support from new products and early demand. Organic sales in Europe, the Middle East and Africa rose 14% in the same quarter, according to Corteva. Chief Executive Luke Kessam said new products performed strongly and productivity delivered results, adding that the company recorded broad organic growth outside Latin America. But he described Brazil's performance as "much weaker than expected" and said the company's strategy had not changed. This regional contrast puts Brazil's decline at the center of the company's explanation for the quarterly result, despite growth in other markets.
Corteva lowered its 2026 forecast range and now expects adjusted operating earnings before interest, taxes, depreciation and amortization of between $1.1 billion and $1.125 billion, and adjusted operating earnings per share of between $0.76 and $0.80. The company said the outlook revision was driven mainly by a deteriorating market in Brazil. The cut follows the weakness in Latin American sales, where organic sales, volume and prices declined in the third quarter, while growth continued in other regions. In after-hours trading following the announcement on November 11, a Reuters report said the shares fell 6.4% to $11.36. The company scheduled a call to discuss results and its outlook for November 12, 2026, at 10:30 a.m. Eastern time.