Corteva, Inc.
For the period ended Jun 30, 2025. Filed Aug 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 7, 2025
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Overview
The following is a summary of results from continuing operations for the three months ended June 30, 2025:
The company reported net sales of $6,456 million, up 6 percent versus the same quarter last year, reflecting a 6 percent increase in volume and a 1 percent increase in price, partially offset by a 1 percent unfavorable impact from currency.
Cost of goods sold totaled $2,932 million in the second quarter of 2025, up from $2,918 million in the second quarter of 2024, which wasdriven by higher volumes, with a partial offset from ongoing cost and productivity actions, Crop Protection raw material deflation, lower commodity prices and a reduction in net royalty expense.
Restructuring and asset related charges - net were $79 million in the second quarter of 2025, a decrease from $92 million in the second quarter of 2024. The charges for the three months ended June 30, 2025 primarily relate to contract termination charges and decommissioning and demolition costs associated with the Crop Protection Operations Strategy Restructuring Program.
Income (loss) from continuing operations after income taxes was $1,382 million, as compared to $1,056 million in the same quarter last year.
Operating EBITDA was $2,164 million for the three months ended June 30, 2025, up from $1,917 million for the three months ended June 30, 2024, primarily driven by Seed pricing and share gains, Crop Protection volume growth, ongoing cost and productivity benefits, and net royalty improvement, partially offset by continued investment in Seed research and development, competitive Crop Protection pricing and unfavorable currency effects. Refer to page 52 for further discussion of the company's non-GAAP financial measures.
The following is a summary of results from continuing operations for the six months ended June 30, 2025:
The company reported net sales of$10,873 million, up 3 percent versus the same period last year, reflecting a 4 percent increase in volume and a 1 percent increase in price, partially offset by a 2 percent unfavorable impact from currency.
Cost of goods sold totaled$5,274 million for thesix months ended June 30, 2025, down from$5,468 million for thesix months ended June 30, 2024, which wasdriven byongoing cost and productivity actions, Crop Protection raw material deflation, lower commodity prices and a reduction in net royalty expense, with a partial offset from higher volumes.
Restructuring and asset related charges - net were $101 million for the six months ended June 30, 2025, a decrease from $167 million for the six months ended June 30, 2024. The charges for the six months ended June 30, 2025 primarily relate toseverance and related benefit costs, asset related charges, decommissioning and demolition costs and contract termination charges associated with the Crop Protection Operations Strategy Restructuring Program.
Income (loss) from continuing operations after income taxes was $2,049 million, as compared to $1,432 million in the same period last year.
Operating EBITDA was $3,353 million for the six months ended June 30, 2025, up from $2,951 million for the six months ended June 30, 2025, primarily driven by Seed pricing and share gains, Crop Protection volume growth, net cost and productivity benefits, and net royalty improvement, partially offset by continued investment in Seed research and development, competitive Crop Protection pricing and unfavorable currency effects. Refer to page 52 for further discussion of the company's non-GAAP financial measures.
In addition to the financial highlights above, the following events occurred during the six months ended June 30, 2025:
The company returned approximately $750 million to shareholders during the six months ended June 30, 2025 under its previously announced share repurchase programs and through common stock dividends.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.