Corteva (CTVA) Q1 FY2026 earnings: revenue $4.9 billion, up 11.0% on the year

Corteva, Inc. (CTVA) reported revenue of $4.9 billion for Q1 FY2026, the quarter ended 31 March 2026, up 11.0% on the same quarter a year earlier. Net income was $720 million, up 10.4% on the year, and diluted earnings per share $1.07. The figures are the company's own, from the 10-Q it filed with the SEC on 6 May 2026.

Revenue

$4.9 billion

+11.0% on the year · +25.4% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

n/a

Q2 FY2024Q1 FY2026

Net income

$720 million

+10.4% on the year

Q2 FY2024Q1 FY2026

Diluted EPS

$1.07

+12.6% on the year

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 4 new, 3 kept.

Net sales rose 11%: Net sales were $4.90B, up 11%; organic sales rose 7%. Both businesses and all regions grew.
Operating EBITDA and EPS rose: Operating EBITDA was $1.44B, up 21%. Operating EPS was $1.50 per share, up 33%. Both are non-GAAP measures.
Seed sales up 12%: Seed net sales were $3.02B, up from $2.71B. Management attributes North America and EMEA volume gains to timing shifts and northern hemisphere weather.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	4,905	3,910	4,417	+25.4%	+11.0%
Cost of revenue	2,372	2,254	2,342	+5.2%	+1.3%
Gross profit	2,533	1,656	2,075	+53.0%	+22.1%
Gross margin	51.6%	42.4%	47.0%
Research and development	341	413	335	-17.4%	+1.8%
Selling, general and administrative	877	860	751	+2.0%	+16.8%
Pre-tax income	858	-530	784		+9.4%
Income tax	133	7.0	117	+1,800.0%	+13.7%
Effective tax rate	15.5%	n/a	14.9%
Net income	720	-552	652		+10.4%
Net margin	14.7%	-14.1%	14.8%
Diluted EPS	$1.07	-$0.82	$0.95		+12.6%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	-2,891	4,375	-2,109
Capital expenditure	81.0	222	94.0	-63.5%	-13.8%
Free cash flow	-2,972	4,153	-2,203
Free cash flow margin	-60.6%	106.2%	-49.9%
Cash from investing	-77.0	-188	-34.0
Cash from financing	389	-2,198	995		-60.9%
Depreciation and amortisation	297	306	296	-2.9%	+0.3%
Buybacks	250	301	270	-16.9%	-7.4%
Dividends paid	121	121	116	0.0%	+4.3%
Dividend per share	$0.18	n/a	$0.17		+5.9%
Diluted shares, weighted	674m	675m	687m	-0.2%	-1.9%
Shares outstanding at period end	669m	672m	683m	-0.5%	-2.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	24,362	24,144	24,285	+0.9%	+0.3%
Non-controlling interest	243	242	242	+0.4%	+0.4%
Debt	3,356	2,580	4,083	+30.1%	-17.8%
Operating lease liabilities	n/a	293	n/a
Finance lease liabilities	n/a	0.0	0.0
Other liabilities	14,756	15,586	13,513	-5.3%	+9.2%
Total liabilities and equity	42,717	42,845	42,123	-0.3%	+1.4%
Fixed assets	4,183	4,220	4,105	-0.9%	+1.9%
Goodwill	10,409	10,465	10,332	-0.5%	+0.7%
Intangible assets	8,147	8,301	8,718	-1.9%	-6.5%
Investments	2.0	9.0	1.0	-77.8%	+100.0%
Cash and equivalents	1,964	4,521	2,008	-56.6%	-2.2%
Receivables	7,262	4,881	6,765	+48.8%	+7.3%
Inventory	5,202	5,667	5,132	-8.2%	+1.4%
Other assets	5,548	4,781	5,062	+16.0%	+9.6%
Total assets	42,717	42,845	42,123	-0.3%	+1.4%

Questions

What was Corteva's revenue in Q1 FY2026?

Corteva (CTVA) reported revenue of $4.9 billion for Q1 FY2026, the quarter ended 31 March 2026, up 11.0% on the same quarter a year earlier.

How much did Corteva earn in Q1 FY2026?

Net income for Q1 FY2026 was $720 million, up 10.4% on the year, and diluted earnings per share $1.07.

When did Corteva report Q1 FY2026 results?

Corteva filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 6 May 2026.

Quarterly results, the last 20 quarters

	Q3 FY2021	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	2,371	3,479	4,601	6,252	2,777	3,825	4,884	6,045	2,590	3,707	4,492	6,112	2,326	3,978	4,417	6,456	2,618	3,910	4,905	6,379
Cost of revenue	1,558	2,232	2,724	3,323	1,879	2,510	2,771	3,137	1,646	2,366	2,550	2,918	1,565	2,496	2,342	2,932	1,644	2,254	2,372	2,718
Gross profit	813	1,247	1,877	2,929	898	1,315	2,113	2,908	944	1,341	1,942	3,194	761	1,482	2,075	3,524	974	1,656	2,533	3,661
Gross margin	34%	36%	41%	47%	32%	34%	43%	48%	36%	36%	43%	52%	33%	37%	47%	55%	37%	42%	52%	57%
R&D	297	316	268	296	312	340	316	329	335	357	332	357	348	365	335	375	351	413	341	388
SG&A	672	806	735	1,017	657	764	726	1,045	670	735	736	1,054	671	735	751	1,156	725	860	877	1,164
Pre-tax income	8.0	245	698	1,327	-396	-203	776	-1,084	-444	1,845	482	1,338	-633	88.0	784	1,804	-370	-530	858	1,625
Tax rate	-350%	37%	17%	24%	n/a	n/a	22%	n/a	n/a	-5%	22%	21%	n/a	157%	15%	23%	n/a	n/a	16%	25%
Net income	30.0	159	564	969	-331	-55.0	595	714	-321	-253	419	1,053	-524	-41.0	652	1,314	-320	-552	720	1,161
Net margin	1%	5%	12%	15%	-12%	-1%	12%	12%	-12%	-7%	9%	17%	-23%	-1%	15%	20%	-12%	-14%	15%	18%
Diluted EPS	$0.04	$0.22	$0.78	$1.33	-$0.46	-$0.08	$0.83	$1.00	-$0.45	-$0.36	$0.60	$1.51	-$0.76	-$0.06	$0.95	$1.92	-$0.47	-$0.82	$1.07	$1.73
Operating cash flow	-176	3,546	-2,730	1,109	-525	3,018	-3,311	812	-105	4,373	-2,609	451	130	4,173	-2,109	947	193	4,375	-2,891	-466
Capital expenditure	144	160	179	139	142	145	151	99.0	162	183	148	114	154	181	94.0	118	157	222	81.0	122
Free cash flow	-320	3,386	-2,909	970	-667	2,873	-3,462	713	-267	4,190	-2,757	337	-24.0	3,992	-2,203	829	36.0	4,153	-2,972	-588
Buybacks	200	200	235	365	200	200	252	80.0	253	171	252	252	253	252	270	250	250	301	250	250
Dividends paid	103	-692	102	101	108	-729	107	106	114	112	112	111	117	118	116	116	122	121	121	120
Shares outstanding	730m	727m	725m	719m	716m	713m	711m	710m	705m	701m	698m	694m	689m	686m	683m	680m	676m	672m	669m	667m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 6 May 2026: the filing.