, /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) today announced its Board of Directors, at its quarterly meeting, has authorized a common stock dividend of $0.05 cents per share, payable December 15, 2026, to the Company's shareholders of record on December 1, 2026.
EIDP, Inc. Announces Preferred Stock Dividend
The Board of Directors of EIDP, Inc. (formerly known as E. I. du Pont de Nemours and Company) (EIDP) declared regular preferred stock dividends of $1.12-1/2 per share on the $4.50 series preferred stock and $0.87-1/2 per share on the $3.50 series preferred stock – both payable January 25, 2027, to EIDP stockholders of record on January 4, 2027. EIDP, Inc. is a wholly owned subsidiary of Corteva, Inc.
About Corteva
Corteva, Inc. (NYSE: CTVA) is a global crop protection company with a leading portfolio of differentiated solutions, including award-winning conventional chemistries and advantaged biologicals, seed-applied technologies and nature-inspired products that help farmers increase yields and protect crops from the stresses of weather, insects, weeds and diseases. Driven by a robust innovation pipeline, deep customer relationships, operational excellence, and disciplined capital allocation, Corteva is focused on creating value for its farmers, channel partners, employees, shareholders, and the communities in which it operates. More information at corteva.com.
Cautionary Statement Regarding Forward-Looking Statements
Corteva (including its subsidiaries) and its representatives may from time to time make written or oral statements that are "forward-looking" and provide other than historical information, including statements contained in this press release, in Corteva's other filings with the SEC, and in presentations, reports or letters to its stockholders. In some cases, Corteva identifies these forward-looking statements by such words or phrases as "authorize," "plans," "outlook," "will," "is designed to," "is confident that," "expect," "should," "could," "may," "will continue to," "believe," "anticipates," "predicts," "forecasts," "estimates," "projects," "potential," "intends," or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words or phrases. Such forward looking statements are based on Corteva's current views and assumptions regarding future events, future business conditions and the outlook for Corteva based on currently available information. Such forward looking statements are based on Corteva's current views and assumptions regarding future events, future business conditions and the outlook for Corteva based on currently available information. The forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. Such risks and uncertainties include Corteva's business performance and the outcome and timing of litigation, including the potential consequences of any such restrictions on Corteva's business and operations resulting from such. These statements are qualified by reference to the "Risk Factors" and "Cautionary Statement Concerning Forward-Looking Statements" the reports and forms filed by Corteva with the SEC. Corteva wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. Corteva specifically declines to undertake any obligation, and specifically disclaims any duty, to publicly update or revise any forward-looking statements that have been made to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as may be required by law.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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On October 1, 2026, Corteva Inc. (NYSE:CTVA) completed the spin-off of its seed operating segment into Vylor Inc. (NYSE:VYLR) through a pro rata distribution to holders of record as of the close of business on September 24, 2026. Shareholders received one VYLR share for each CTVA share held. The distribution is tax-free for U.S. federal income tax purposes, except for cash in lieu of fractional shares.
Corteva keeps the Crop Protection business under the CTVA ticker. It is now a pure-play crop protection company, #4 globally, with one of the industry’s largest biologicals businesses. Vylor holds the Seed business, anchored by Pioneer, Brevant and Enlist. On FY2025 pro forma figures, Vylor is the larger and higher-margin entity, with $10.1billion revenue and $2.6 billion adjusted EBITDA (25.6% margin). Crop Protection posted $7.5 billion revenue and $1.35 billion EBITDA (18.0%).
The trading mechanics matter for the first-day numbers. Corteva determined there would be no “when-issued” trading in Vylor common stock or “ex-distribution” trading in Corteva common stock ahead of the distribution. As a result, October 1 was the first true price discovery for each standalone entity. That partly explains the volatility in the parent.
Index ReshuffleVylor joined the S&P 500 effective October 1, 2026, taking Corteva’s slot. Post spin, Corteva is scheduled to move to the S&P MidCap 400 effective October 6, replacing Olin Corp. (OLN). In our view, this is the most important near-term technical for CTVA. S&P 500 trackers received VYLR in the distribution and must exit their CTVA position. MidCap 400 trackers, the natural buyers, manage a much smaller asset base.
Consolidated Performance: Value Created, Mostly Before the SplitOn a combined basis (1 CTVA + 1 VYLR), the holder of one pre-spin Corteva share is well ahead of the market since the October 2025 announcement:
The separation itself also added a modest amount of value. CTVA’s prior close before the spin was $77.65. Against that, the combined position closed at $78.85 on day one (+1.5%) and $79.54 on day two (+2.4%). In our view, the bulk of the re-rating happened during the 12-month run-up as investors priced in a pure-play seed franchise, and the market has broadly endorsed the break-up since completion.
Individual Performance
On the first day of regular-way trading (Oct 01, 2026), the parent lost -12.95% while the spin-off gained 0.42%.
Vylor traded like a quality S&P 500 compounder from the open. Corteva traded like a classic orphaned parent. It lost 17.5% in two sessions and now accounts for just 15% of the combined enterprise value, despite generating 32% of combined FY2027E EBITDA.
We attribute the CTVA weakness mainly to technical and positioning factors rather than fundamentals. First, the stock faces index-driven selling ahead of its S&P 500 exit. Second, its market cap dropped from more than $50 billion to about $8 billion, which pushes it out of many large-cap mandates. Third, holders who owned Corteva for the seed franchise are now exiting. The parent also retains the majority of pension, PFAS, environmental and litigation liabilities, which some investors will avoid regardless of price. That said, pension risk has been materially reduced. Corteva contributed approximately $1.46 billion to its principal U.S. plan in June and July 2026.
ValuationWe value each company on FY2027E EBITDA using the multiple its standalone peer group would support.
New Corteva: 9.0x FY2027E EBITDA. This is a premium to the crop protection peer average of 6.7x (FMC, ADAMA, Nufarm, Bayer, UPL). We believe it is justified because about two-thirds of the portfolio is differentiated or patented product, biologicals are targeted to reach $1 billion by decade-end, at least seven new active ingredients are expected over the next decade (including Haviza, with >$0.5 billion peak sales potential), and the balance sheet sits in net cash of $630M pro forma. We expect the crop protection market to return to low-single-digit growth, with Chinese active-ingredient pricing firming into late 2026 and 2027.
Vylor: 15.0x FY2027E adjusted EBITDA. This is a premium to the seed peer average of 9.3x. We believe it is warranted by scarcity value as one of very few global pure-play advanced genetics companies, adjusted EBITDA margins heading above 28%, licensing turning royalty-positive in 2026, and optionality in hybrid wheat (2027 launch), gene editing and biofuels. Bayer’s 18.6x EV/EBITDA acquisition of Monsanto remains the upper anchor.
Our View. Vylor is the higher-quality asset as it is larger, faster-growing, higher-margin and offers relatively scarce pure-play exposure. At $67.62, however, the shares already imply a valuation above our target multiple, limiting near-term upside.
New Corteva is the more compelling post-spin opportunity, in our view. The company emerges as a differentiated crop-protection franchise with a net-cash balance sheet, yet is likely to face technical selling from index and mandate related repositioning. This could create an opportunity for investors to take positions at attractive entry price.
Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.
On October 06, 2026, Corteva Inc CTVA shares rose 12.3% to a current price of $13.91. This move comes amid a 52-week range of $9.08 to $14.44, reflecting a robust price performance over the past year.
GF Value™ verdict: Current price is $13.91, which is 38.5% above the GF Value™ of $10.04, indicating the stock is overvalued. GF Score™: CTVA has a score of 77/100, suggesting it is above average in terms of overall quality. Notable signal: Insiders have sold $0.6 million over the past 12 months without any buying activity.Is CTVA Overvalued or Undervalued?Corteva Inc's current market price of $13.91 is significantly higher than the GF Value™ of $10.04, translating to a 38.5% overvaluation. The GF Value™ is GuruFocus' proprietary estimate of a stock's intrinsic value, which is based on historical trading multiples, past business growth, and future performance estimates. This stark difference suggests that investors may be paying a premium for the stock, which poses a risk if the company's fundamentals do not support such a valuation.
The GF Valuation label classifies CTVA as "Significantly Overvalued," further highlighting the concern surrounding its current price. Investors looking for a margin of safety should be cautious, as overvaluation can lead to potential price corrections in the future.
How Does CTVA's Valuation Compare to Its History?Metric Current Historical P/E (TTM) 9.2x 5.9x (5-Year Median) Forward P/E 3.3x N/ACTVA's current P/E (TTM) of 9.2x is 55% above its 5-year median P/E of 5.9x, suggesting that the stock is trading at a premium compared to its historical valuation metrics. This analysis aligns with the GF Value™ verdict, indicating that CTVA is overvalued based on its historical earnings multiples.
What Does CTVA's GF Score™ Tell Us?The GF Score™ measures a company's overall quality by evaluating several factors, including financial strength, profitability, growth potential, valuation, and momentum. Corteva's GF Score™ of 77/100 indicates above-average quality, with notable strengths in financial stability and profitability.
Metric Rating GF Score™ 77/100 Financial Strength 7/10 Profitability 7/10 Growth 5/10 Valuation 5/10 Momentum 6/10The scores indicate that CTVA has solid financial strength and profitability, ranked at 7/10. However, its growth and valuation ranks of 5/10 suggest that there may be limitations in these areas, aligning with the concerns raised about its overvaluation.
What Are Gurus and Insiders Doing with CTVA?Currently, 11 gurus hold shares of Corteva Inc, with 6 adding to their positions and 6 trimming their stakes in recent quarters. This mixed activity among institutional investors suggests a cautious sentiment surrounding the stock. Additionally, insider activity reveals that insiders have sold $0.6 million worth of shares over the past year without any purchases, which could imply a lack of confidence in the stock's current valuation from those closest to the company.
The balance of guru activity, coupled with insider selling, paints a picture of wariness about the stock's high valuation, further reinforcing the notion that CTVA may be overvalued at its current price.
What This Means for InvestorsIn summary, based on the GF Value™ analysis, Corteva Inc CTVA is deemed overvalued at its current price of $13.91, which is significantly above the estimated fair value of $10.04. While the company shows strengths in financial performance, the high valuation combined with insider selling raises concerns about the sustainability of its current price level. For more detailed information, visit the Corteva Inc (CTVA) stock page and explore further insights on its valuation and performance.
Frequently Asked QuestionsWhat is CTVA's GF Score™?
CTVA has a GF Score™ of 77/100, indicating above-average quality based on various factors such as financial strength and profitability.
Is CTVA overvalued or undervalued?
CTVA is currently overvalued, with a market price of $13.91 that is 38.5% above its GF Value™ of $10.04.
What is CTVA's P/E ratio?
CTVA's P/E (TTM) ratio is 9.2x, which is 55% higher than its 5-year median P/E of 5.9x, indicating that it is trading at a premium compared to its historical valuation.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Disclosures I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.
Corteva (CTVA +12.27%), a pure-play crop protection provider, closed at $13.91, up 12.27% after JPMorgan upgraded Corteva in premarket trading. Investors are watching how the company will fare as a stand-alone company, now separate from its seed genetics business. Trading volume reached 38.9M shares, coming in about 285% above its three-month average of 10.1M shares.
How the markets moved todayThe S&P 500 (^GSPC +0.58%) closed at 7,820, up 0.59%, while the Nasdaq Composite (^IXIC +0.45%) finished at 27,600, up 0.45%. Among agricultural inputs peers, Bayer (BAYRY +0.24%) closed at $12.45, up 0.40%, and FMC (FMC +0.33%) closed at $9.02, up 0.22%; the group stayed on investors' radar as Corteva's upgrade and index reshuffling drew attention.
What this means for investorsIt looks like Corteva is quickly becoming a Joel Greenblatt "special" of sorts following its recent separation from Vylor. While Vylor split with the "more interesting" business of seed genetics and a century-old germplasm library, Corteva's discounted, pure-play crop protection operations are worthy of not being forgotten about -- at least according to an analyst at JPMorgan.
Setting a $19 price target on CTVA stock, JPMorgan's bullish outlook on Corteva helped the latter's share jump 12% today. While uncertainty surrounds Corteva due to PFAS and PFOA legal liabilities inherited from its past ties to DuPont, JPM believes these costs should peak at $1.3 billion, or roughly $2 per share for Corteva, according to its modeling.
JPMorgan's $19 price target on CTVA stock reflects this expected impact, implying it still sees 37% upside in the stock. Trading at just 5.7 times the company's estimated 2027 EBITDA, Corteva might be an interesting deep-value opportunity for investors comfortable operating in this industry, but the legal liabilities worry me too much, personally, even with the company's pristine balance sheet.
Starting the week on a positive note, Corteva (CTVA +12.91%) stock rose 4% yesterday, outperforming the S&P 500's 0.7% gain. And the market's appetite for agricultural stocks continues today, thanks to an analyst’s bullish outlook on Corteva.
As of 1:40 p.m. ET, Corteva shares are up 12.2%.
One firm believes shares are sitting in the bargain binUpgrading it from neutral to overweight, JPMorgan assigned a $19 price target to Corteva stock today. Based on yesterday's closing price of $12.39, the $19 price target implies 53.3% upside.
Today's Change
(
12.91
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1.60
Current Price
$
13.99
According to Thefly.com, JPMorgan took the bullish stance on Corteva stock, believing that it's now undervalued following the Oct. 1 spinoff of the company's advanced seed and genetics business.
Building on several years of success in its crop protection business, Corteva believes it's well-positioned for future growth, now that it's no longer focused on the advanced seed and genetics business. From 2020 through 2025, for example, Corteva's crop protection business grew sales by over $1 billion while expanding segment-level operating earnings before interest, taxes, depreciation, and amortization (EBITDA) margins by about 250 basis points.
Is now the time to plant Corteva stock in your portfolio?While JPMorgan believes that Corteva stock has ample room to run, prospective investors should take this outlook with a grain of salt, remembering that this is merely one firm's opinion -- not a guarantee that the stock will, in fact, soar. A better course of action at this point is to check in on what the company said in early November, when it reports third-quarter 2026 financial results, to see how things are proceeding following the spinoff of the advanced seed business. In the meantime, there are plenty of other agriculture stocks to consider.
JPMorgan Chase is an advertising partner of Motley Fool Money. Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool has a disclosure policy.
Corteva (NYSE:CTVA – Get Free Report) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage currently has a $19.00 price target on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 38.04% from the company’s previous close.
Several other equities research analysts have also issued reports on the company. Barclays lifted their price target on Corteva from $84.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. BMO Capital Markets set a $15.00 price target on Corteva in a report on Friday. Oppenheimer set a $17.00 price target on Corteva in a report on Monday. Morgan Stanley reaffirmed an “overweight” rating and issued a $18.00 price objective on shares of Corteva in a research note on Friday. Finally, Zacks Research lowered shares of Corteva from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $73.95.
View Our Latest Report on Corteva
Corteva Stock Up 11.1% Shares of NYSE:CTVA traded up $1.37 during trading on Tuesday, reaching $13.76. 17,148,441 shares of the company traded hands, compared to its average volume of 6,010,675. The firm has a fifty day simple moving average of $77.32 and a 200 day simple moving average of $80.10. The firm has a market cap of $9.18 billion, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 0.37 and a beta of 0.57. Corteva has a 1-year low of $11.74 and a 1-year high of $90.97. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.07. Corteva (NYSE:CTVA – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.06. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.60 billion. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $2.20 EPS. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. Analysts anticipate that Corteva will post 3.72 earnings per share for the current fiscal year.
Institutional Inflows and Outflows A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Corteva during the second quarter worth approximately $4,560,180,000. Independent Franchise Partners LLP boosted its position in shares of Corteva by 1.0% in the fourth quarter. Independent Franchise Partners LLP now owns 10,495,388 shares of the company’s stock valued at $703,506,000 after acquiring an additional 107,434 shares during the period. Wellington Management Group LLP boosted its position in shares of Corteva by 941.7% in the second quarter. Wellington Management Group LLP now owns 7,612,704 shares of the company’s stock valued at $644,720,000 after acquiring an additional 6,881,875 shares during the period. Royal Bank of Canada boosted its position in shares of Corteva by 202.1% in the first quarter. Royal Bank of Canada now owns 7,458,624 shares of the company’s stock valued at $624,362,000 after acquiring an additional 4,989,371 shares during the period. Finally, Jupiter Topco LLC bought a new stake in shares of Corteva in the second quarter valued at approximately $544,246,000. Institutional investors and hedge funds own 81.54% of the company’s stock.
Trending Headlines about Corteva Here are the key news stories impacting Corteva this week:
Positive Sentiment: JPMorgan upgraded Corteva from “Neutral” to “Overweight” and set a $19 price target, implying substantial upside from recent trading levels. The firm’s more bullish stance appears to be the main catalyst behind the stock’s gap higher. JPMorgan Upgrades Corteva to Overweight Positive Sentiment: Bank of America reiterated its “Buy” rating and $18 price target, citing Corteva’s new product launches and expectations for tighter agricultural markets in 2027. BofA believes innovation can offset pressure from older products. Corteva remains a buy as innovation offsets pressure on legacy products Neutral Sentiment: Corteva scheduled its third-quarter 2026 earnings release for November 11, after the market close, followed by a webcast on November 12. The announcement provides a forthcoming catalyst, but it does not contain new financial results or guidance. Corteva Announces Third-Quarter 2026 Earnings Date Negative Sentiment: A valuation commentary from GuruFocus argued that Corteva may be overvalued after its recent rally, creating a potential headwind for investors concerned that the stock’s gains have outpaced underlying fundamentals. GuruFocus valuation analysis Corteva Company Profile (Get Free Report)
Corteva, Inc is an agriculture-focused company that develops and supplies seed, crop protection and digital agriculture products. Its offerings are designed to help farmers improve crop productivity, manage pests and diseases, and support more efficient and sustainable farming practices.
The company’s seed portfolio includes corn, soybean, wheat, sunflower, canola, cotton and other crops, marketed through brands such as Pioneer, Brevant seeds and PhytoGen. Corteva also provides herbicides, insecticides, fungicides, biological products and seed treatments under a range of agricultural brands.
Corteva serves farmers, agricultural retailers and other customers in markets around the world.
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Shares of Corteva, Inc. (NYSE: CTVA - Get Free Report) gapped up before the market opened on Tuesday after JPMorgan Chase and Co. upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $12.39, but opened at $13.08. JPMorgan Chase and Co. now has a $19.00 price target on
INDIANAPOLIS, Oct. 6, 2026 /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) today announced it will release its third quarter 2026 earnings on Wednesday, November 11, 2026, after the stock market close via press release and its website. The earnings will be presented in a live webcast on Thursday, November 12, 2026, at 10:30 a.m.
On October 05, 2026, Corteva Inc (CTVA) shares rose 3.9% today, currently trading at $12.39. The stock has experienced a 52-week range between $9.08 and $14.44,
Bank of America (BofA) keeps its 'buy' rating on Corteva Inc (NYSE:CTVA) and sets an $18 price target, citing new product launches and tighter 2027 agriculture markets.
Corteva, the US crop protection company, became a focused crop protection business on October 1, after separating its seed business into Vylor.
The analyst said the price target was adjusted to reflect the separation of Vylor and values Corteva at 8.5 times estimated 2027 EBITDA.
That multiple is below the 10.5 times 2026 EBITDA previously used for Corteva in a sum-of-the-parts valuation, which values each business separately.
The analyst assumes long-term debt of $868 million and a modest net cash position, and expects the investment-grade balance sheet to support further shareholder returns.
Management targets revenue growth of 3%, EBITDA growth of 6% and an EBITDA margin of about 18% by 2029, although the analyst takes a more conservative view.
The main concern is whether new products can offset sales lost as customers switch from older Corteva products, and pressure from competitors in the existing portfolio.
The analyst views Corteva's product pipeline favorably, expecting it to broaden the portfolio and replace some legacy molecules as insect pressure and herbicide resistance increase.
Fungal diseases are also hard for seed traits to address, which leaves room for new crop protection products.
Poor farm economics and dry weather could leave inventories elevated in some markets as 2026 ends.
Tighter grain markets in 2027 could lift global volumes, and the analyst expects product launches to gain momentum into 2028.
Corteva also has significant exposure to the grain cycle, which the analyst sees as supportive as the outlook for agricultural markets in 2027 becomes more bullish.
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Corteva shareholders woke up to what looked like an 83% crash, but the real story is what they now own across two tickers and a lawsuit that could unwind the entire split.
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On October 1, 2026, anyone who checked Corteva (NYSE:CTVA | CTVA Price Prediction) in a brokerage app saw what looked like a collapse. The stock fell 83.82% in a single session and closed at $12.56, down from a prior close of $77.65.
The value of a Corteva position now sits in two tickers. Corteva finished spinning off its seed business into a separate company, Vylor (NYSE:VYLR), and the drop on the screen simply reflects that business leaving the parent.
Corteva said holders of record on September 24 received one Vylor share for every Corteva share they owned. That leaves holders with two very different companies to evaluate. One of these companies sells seed, and the other sells farm chemicals, and a lawsuit naming both was filed the same day the split closed.
What Happened to Your Account In a spin-off, one company becomes two. Existing holders receive shares of the new company while the parent’s share price falls by the value of the business that left.
Vylor traded at $67.46 on its first day. At that price, one Corteva share plus one Vylor share was worth $80.02, above the $77.65 prior close. Vylor’s first-day close was approximately $68.26.
Vylor said the distribution is tax-free for US holders. Cash paid for fractional shares is taxable.
Two Very Different Businesses Vylor holds the seed and genetics business, including Pioneer and Brevant brands, targeting 2029 net sales of $11.2 billion to $11.9 billion. Seed is an intellectual-property business built on trait licensing and long development cycles.
Corteva kept crop protection: herbicides, insecticides, and fungicides. In the second quarter of 2026, seed sales were $4.532 billion and flat, while crop protection brought in $1.847 billion and fell 4%.
Why Management Split Them A combined company can hide its stronger business inside its weaker one, while a pure seed company will be valued on its own multiple, and a crop-protection company judged on its own results. Luke Kissam, Corteva’s chief executive, said, “This is a new day for Corteva.” The company guided to about $350 million in one-time separation costs.
Fifteen states and Guam sued both companies in Indiana. The suit says the spin-off is a fraudulent transfer designed to keep assets from creditors with PFAS claims. Corteva called the claims speculative and unproven.
The company also said, “Corteva itself never made or sold PFAS products.” If the suit wins, a court could pull the separated company back into the liability, wiping out the clean break both sides are counting on.
What Could Change the Outlook for Corteva and Vylor Vylor likely holds the stronger position. The remaining Corteva is the smaller business, with falling sales and generic competition that seed traits protect it from.
Corteva has also not announced a dividend policy, so any yield you see quoted is based on the old combined company, and Vylor has no trading history yet, so its first-day price is only a starting point for evaluating the company.
If Corteva’s first standalone third-quarter 2026 report shows crop protection sales growing again and comes with a clear dividend, I am wrong about CTVA.
Contact [email protected] for any questions or corrections.
A group of US states sued Corteva (CTVA.N) and Vylor (VYLR.N) on Thursday, alleging Corteva's spinoff of its seed business to Vylor was a fraudulent attempt to avoid tens of billions in legacy liabilities related to "forever chemicals" polluting the environment.
The lawsuit, filed in Indiana state court by 15 US states and the territory of Guam, alleges that Vylor received the "crown jewels" of Corteva's business without assuming its liabilities for perfluoroalkyl and polyfluoroalkyl substances (PFAS). Corteva and Vylor are corporate successors to DuPont, which has been named in thousands of lawsuits alleging the company's chemicals have polluted the environment and exposed millions of Americans to potential health risks.
Corteva completed the spinoff of its seed and genetics business into a separate publicly traded company on Thursday.
Corteva was formed during the 2015 merger of Dow Chemical Company and DuPont, taking on the combined companies' agriculture business and becoming the corporate parent of the old DuPont companies, according to the complaint.
At the time Corteva contractually assumed DuPont's PFAS liabilities, but the new Vylor transaction attempts to spin off the profitable seed business without taking on any of the old company's PFAS debts. The states allege that the spinoff is an attempt to defraud PFAS creditors by placing assets out of reach of their lawsuits against former DuPont companies.
Corteva CTVA shares are undergoing a massive price adjustment on October 1st, plunging rather sharply after the market opened.
While a glance at CTVA stock might look alarming, the crash isn’t because of a sudden operational collapse or unexpected earnings miss.
Instead, it marks the planned execution of a major corporate restructuring.
Corteva officially completed the separation of its massive seed and advanced genetics division into a newly independent, publicly traded enterprise, shedding massive market value to form a standalone agriculture powerhouse.
The main force driving Corteva stock price down today is the official debut of Vylor Inc. (VYLR) on the New York Stock Exchange.
By spinning off its advanced seed and genetics division, Corteva transferred a substantial portion of its total enterprise capitalization into the new entity.
Under the terms of the split, Corteva shareholders of record as of September 24 received pro-rata VYLR common shares while keeping their existing CTVA stakes.
The resulting price drop in Corteva reflects this equity transfer rather than an actual loss of wealth, as investors' combined holdings across CTVA and VYLR preserve their underlying portfolio value.
The transaction almost faced a last-minute disruption after the State of California filed a motion for a temporary restraining order – alleging the spin-off was designed to shield valuable seed assets from historical environmental liabilities related to PFAS chemicals.
However, on September 30, a US District Court denied California’s motion, arguing the state had waited until mere days before closing despite knowing about the plans for nearly a year.
This critical legal clearance removed the final obstacle blocking the corporate separation, allowing Corteva and Vylor Inc. to execute the stock distribution as scheduled on October 1 without lingering regulatory delays.
With the Vylor separation complete, Corteva Inc emerges as a lean, pure-play global leader in crop protection.
For long-term investors, today’s crash offers a fresh baseline valuation to evaluate the streamlined business.
CTVA shares now focus entirely on high-margin crop protection solutions – backed by $11 billion innovation pipeline that has consistently delivered margin expansion.
Meanwhile, risk-tolerant growth investors can look toward Vylor stock for direct exposure to next-generation hybrid technologies and agricultural gene editing.
Rather than signaling fundamental distress, Corteva’s post-spin profile presents a compelling entry point for investors seeking stable, innovation-driven exposure to crop health and agricultural inputs
Note that Wall Street firms also currently have a consensus Overweight rating on CTVA, signaling continued confidence in what the future holds for the agri-science company.
A rather lucrative 5.92% dividend yield tied to the NYSE-listed firm makes it even more attractive as a long-term holding heading into next year (2027).
Index Dow Jones -0,45 % na 50676,84 b. S&P 500 -0,24 % na 7633,26 b. Nasdaq Composite -0,14 % na 26824,06 b.
Nejsledovanější americké indexy v úvodu obchodování mírně ztrácejí, zatímco výnosy desetiletých dluhopisů vystoupaly na nejvyšší úroveň od roku 2002 a ropa Brent se pohybuje blízko 100 USD za barel.
Nejsledovanější událost týdne, kvartální výsledky výrobce paměťových čipů Micron Technology (-2,7 %), překonaly očekávání. Utlumená reakce trhu podle analytiků ze Zacks Investment Research odráží skutečnost, že většina investorů na Wall Street pravděpodobně už překonání odhadů očekávala.
Výrazně se však po reportu výsledků daří poradenské společnosti Accenture (+22 %). Více podrobností naleznete zde.
Pouze technický propad zažívají akcie společnosti Corteva (-84 %). Společnost totiž dokončila odštěpení (spinoff) své divize zemědělských osiv Vylor. Akcionáři evidovaní k závěru obchodování dne 24. září obdrží za každou drženou akcii společnosti Corteva jednu akcii společnosti Vylor. Tyto akcie se dnes začínají obchodovat na NYSE pod tickerem VYLR.
Rostou akcie technologické společnosti Synopsys (+11 %), která dodává nástroje a služby pro design a výrobu polovodičů. Společnost na dni pro investory představila dlouhodobé cíle, které analytici vnímají jako silné. Společnost ve fiskálním roce 2027 očekává tržby v rozmezí 11,1 až 11,2 mld. USD. Očištěný zisk na akcii společnost cílí na 19,04 až 19,12 USD při očištěné provozní marži přibližně 44 %. Cíle pro složenou roční míru růstu (CAGR) na období FY26 až FY30 zahrnují růst tržeb v rozmezí středních desítek procent (mid-teens) a růst očištěného zisku ve středních dvacítkách procent (mid-20s%).
Daří se také akciím softwarové společnosti Fair Isaac Corp. (+8,4 %). Ředitel FHFA Bill Pulte v příspěvku na síti X uvedl, že ve středu večer hovořil s generálním ředitelem společnosti, aby zajistil, že FICO Direct bude ze strany agentury schválen. Podle Pulteho FHFA nezáleží na tom, kdo vyhraje, přičemž chtějí jen, aby si FICO a VantageScore konkurovaly, a ne aby fungovali jako kartel nebo zneužívali monopolní postavení. Tím narážel na nedávný vývoj. Program FICO Direct umožňuje přeprodejcům úvěrových zpráv počítat a distribuovat skóre FICO přímo hypotečním poskytovatelům.
Index S&P 500 -0,24 % na 7633,26 b. Nejsilnější sektory S&P Změna Nejslabší sektory S&P Změna Energie +1,1 % Základní materiály -1,6 % Informační technologie +0,2 % Reality -1,1 % Průmysl -0,2 % Finanční sektor -0,8 % Nejsilnější akcie S&P Změna Nejslabší akcie S&P Změna Accenture (ACN) +22 % Corteva (CTVA) -84 % Synopsys (SNPS) +11 % Mosaic (MOS) -5,2 % Cognizant Technology Solutions Corp (CTSH) +10 % Smurfit Westrock (SW) -4,5 % Fair Isaac Corp (FICO) +8,4 % Paramount Skydance Corp (PSKY) -4,2 % Coherent Corp (COHR) +8,0 % Estee Lauder Cos (EL) -3,8 % Zdroj: Bloomberg
Company completes spin-off of seed business, well positioned to advance its robust pipeline with 12 new actives, including 5 biologicals, for launch in the next decade
, /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) today announced it has successfully spun off its advanced seed and genetics business and will move forward as a leading, pure-play global crop protection company.
"This is a new day for Corteva, and we couldn't be more excited as we move forward with greater focus, agility and a renewed commitment to innovation and operational excellence," said Corteva CEO Luke Kissam. "As the challenges facing agriculture continue to evolve, we're ready to meet the needs of the future with the industry's best people, portfolio and pipeline—advancing safe, effective and sustainable solutions that deliver for farmers, our channel partners and our shareholders."
Corteva begins this next chapter with strong momentum and a proven record of excellence in execution. Between 2020 and 2025, the crop protection business increased revenue by over $1 billion while expanding operating EBITDA margins by approximately 250 basis points on a segment basis. This progress includes establishment of an industry-leading biologicals and natural products platform, and intentional evolution of the company's product mix toward differentiated technologies—now representing ~65% of sales—to bring new, critically-needed innovations to farmers.
With an $11 billion crop protection pipeline, world-class R&D capabilities, including our microbial discovery, integrated development, and predictive safety platforms, Corteva's future growth will be driven by innovation farmers need most. Today, the company's nearly 9,000 employees serve growers in approximately 110 countries.
About Corteva
Corteva, Inc. (NYSE: CTVA) is a global crop protection company with a leading portfolio of differentiated solutions, including award-winning conventional chemistries and advantaged biologicals, seed-applied technologies and nature-inspired products that help farmers increase yields and protect crops from the stresses of weather, insects, weeds and diseases. Driven by a robust innovation pipeline, deep customer relationships, operational excellence, and disciplined capital allocation, Corteva is focused on creating value for its farmers, channel partners, employees, shareholders, and the communities in which it operates.
Cautionary Statement on Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements This Current Report on Form 8-K, including the information furnished pursuant to Item 8.01 and Item 9.01 hereto, contains certain forward-looking statements. Words such as "believe," "will," "plan," "may," "expect," "see," and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, Corteva's intent to separate and its related expectations for Corteva and Vylor. These forward-looking statements reflect management's current expectations and are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond Corteva's and Vylor's control. Important factors that may affect Corteva's or Vylor's respective businesses and operations and that may cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, whether the objectives of the separation will be achieved; the terms, structure, benefits and costs of any action or transaction resulting from the separation; the timing of any such separation or related action and whether any such separation will be consummated at all; the risk that the announcement of the intended separation could have an adverse effect on the ability of Corteva or Vylor to retain and hire key personnel and maintain relationships with customers, suppliers, employees, shareholders and other business relationships and on its operating results and business generally; the risk the separation could divert the attention and time of each company's management; the risk of any unexpected costs or expenses resulting from the separation process or separation itself; and the risk of any litigation relating to the separation, as well as the risks and uncertainties described in Corteva's and Vylor's risk factors, as they may be amended from time to time, set forth in their respective filings with the U.S. Securities and Exchange Commission. Corteva and Vylor disclaim and do not undertake any obligation to update, revise, or withdraw any forward-looking statement in this press release, except as required by applicable law or regulation.
For more information on Corteva's historical segment performance, please see the "Segment Information" footnotes to Corteva's consolidated financial statements in each of its annual reports on SEC Form 10-K.
, /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) announced today that Vylor Inc., a Delaware corporation and its wholly owned subsidiary ("Vylor"), has received the final results of its previously announced (i) private offers to exchange (with respect to each series, an "Exchange Offer" and together, the "Exchange Offers") any and all of the outstanding senior notes of the series listed in the table below issued by EIDP, Inc., a Delaware corporation and a wholly owned subsidiary of Corteva ("EIDP" and such notes, collectively, the "EIDP Notes"), to the extent held by eligible holders, for a corresponding series of notes to be newly issued by Vylor (collectively, the "Vylor Notes") and (ii) related consent solicitations (the "Consent Solicitations") made by Vylor on behalf of EIDP to adopt certain proposed amendments to the indentures governing the EIDP Notes. The Exchange Offers and Consent Solicitations expired at 5:00 p.m., New York City time, on September 30, 2026 (the "Expiration Date").
The table below sets forth, for each series of EIDP Notes, the principal amount validly tendered and not validly withdrawn as of the Expiration Date.
EIDP Notes Validly
Tendered and Not
Validly Withdrawn by the
Expiration Date
Title of
Series of
EIDP
Notes
CUSIP No.
and ISIN of
EIDP Notes
Aggregate
Principal
Amount of
EIDP Notes
Outstanding
Vylor Notes
to be
Issued in
Exchange
for EIDP
Notes
Principal
Amount
Percentage
2.300% Senior
Notes due 2030
263534CP2
US263534CP24
$
500,000,000
2.300% Senior Notes
due 2030
$434,841,000
86.97 %
5.125% Senior Notes
due 2032
263534CS6
US263534CS62
$
500,000,000
5.125% Senior Notes
due 2032
$476,214,000
95.24 %
4.800% Senior Notes
due 2033
263534CR8
US263534CR89
$
600,000,000
4.800% Senior Notes
due 2033
$527,584,000
87.93 %
The Exchange Offers and Consent Solicitations were made upon the terms and conditions set forth in an exchange offer memorandum and consent solicitation statement, dated August 6, 2026 (as amended or supplemented, the "Offering Memorandum"), copies of which were made available to holders of the EIDP Notes eligible to participate in the Exchange Offers and Consent Solicitations. Each Exchange Offer and Consent Solicitation is conditioned upon, among other things, the consummation of Corteva's planned separation into two independent, publicly traded companies, one comprising its current crop protection business and the other comprising its current seed business to be owned and conducted, directly or indirectly, by Vylor (the "Separation"). As of the Expiration Date, other than the consummation of the Separation, all conditions to the Exchange Offers and Consent Solicitations were satisfied. Therefore, settlement of the Exchange Offers and Consent Solicitations is expected to occur substantially simultaneously with the consummation of the Separation, which, as previously announced, is expected to be on or about October 1, 2026 (the "Settlement Date"), subject to satisfaction or waiver of the conditions thereto.
Subject to the terms and conditions set forth in the Offering Memorandum, each eligible holder of EIDP Notes will receive, for each $1,000 principal amount of the applicable series of EIDP Notes validly tendered and not validly withdrawn by 5:00 p.m., New York City time, on August 19, 2026 (the "Early Tender Deadline") and accepted for exchange in the applicable Exchange Offer, (i) an equal principal amount of Vylor Notes of the corresponding series and (ii) a cash payment (with respect to each series, the "Cash Consideration" and, together with such amount of Vylor Notes, the "Total Exchange Consideration"). The Cash Consideration is approximately $2.90 per $1,000 principal amount for the 2.300% Senior Notes due 2030, approximately $2.67 per $1,000 principal amount for the 5.125% Senior Notes due 2032 and approximately $2.86 per $1,000 principal amount for the 4.800% Senior Notes due 2033. The Vylor Notes will have the same interest payment dates, maturity date and interest rate as the EIDP Notes of the corresponding series. Interest on the applicable series of Vylor Notes issued in the related Exchange Offer will accrue from (and including) the date on which such Vylor Notes are issued in exchange for the corresponding series of EIDP Notes.
Eligible holders who validly tendered their EIDP Notes after the Early Tender Deadline but on or prior to the Expiration Date are eligible to receive $970 principal amount of the applicable series of Vylor Notes per $1,000 principal amount of the corresponding series of EIDP Notes validly tendered (the "Exchange Consideration") but no Cash Consideration.
In addition, all eligible holders whose EIDP Notes were validly tendered and accepted for exchange in the Exchange Offers and Consent Solicitations will receive a cash payment equal to the accrued and unpaid interest on their EIDP Notes accepted for exchange from the last interest payment date of the applicable EIDP Notes preceding the Settlement Date up to, but excluding, the Settlement Date.
The Exchange Offers and Consent Solicitations were made only to holders of EIDP Notes who satisfied the eligibility conditions described under "Disclaimer" below.
Disclaimer
This press release is issued pursuant to Rule 135c under the Securities Act of 1933, as amended (the "Securities Act"). This press release is neither an offer to sell nor the solicitation of an offer to buy the Vylor Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful. The Exchange Offers and Consent Solicitations have not been and will not be registered under the Securities Act, or the securities laws of any other jurisdiction, and, accordingly, the Vylor Notes will be subject to transfer restrictions unless and until the Vylor Notes are registered or exchanged for registered notes. The Vylor Notes will be issued in reliance upon exemptions from, or in transactions not subject to, registration under the Securities Act. The Exchange Offers and Consent Solicitations were made only to, and the Vylor Notes will be offered for exchange only to, holders of EIDP Notes who are (i) reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act, and (ii) outside the United States, persons who are not, and who are not acting for the account or benefit of, "U.S. persons" (as defined in Rule 902 under the Securities Act) in compliance with Regulation S under the Securities Act. The Vylor Notes were not offered or sold in the United States or to U.S. persons (as defined in Rule 902 under the Securities Act) unless the transaction is registered under the Securities Act, an exemption from the registration requirements of the Securities Act is available or the transaction is not subject to registration under the Securities Act.
The Exchange Offers and Consent Solicitations were made only pursuant to the Offering Memorandum. The Offering Memorandum and other documents relating to the Exchange Offers and Consent Solicitations were distributed only to holders of EIDP Notes who confirmed that they are within the categories of eligible participants in the Exchange Offers and Consent Solicitations. None of Vylor, its directors or officers, the dealer managers and solicitation agents, the exchange agent, the information agent, the trustees for the Vylor Notes or the EIDP Notes, their respective affiliates, or any other person is making any recommendation as to whether holders should tender their EIDP Notes in the Exchange Offers or deliver related consents in the Consent Solicitations.
The complete terms and conditions of the Exchange Offers and Consent Solicitations are set forth in the Offering Memorandum. The Exchange Offers and Consent Solicitations were made pursuant to the Offering Memorandum. The Exchange Offers and Consent Solicitations were not made to holders of EIDP Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY OTHER REGULATORY BODY HAS REGISTERED, RECOMMENDED OR APPROVED OF THE VYLOR NOTES OR PASSED UPON THE ACCURACY OR ADEQUACY OF THE OFFERING MEMORANDUM. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
About Corteva
Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.
Cautionary Statement on Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the U.S. federal securities laws about Corteva, Vylor, EIDP, the Exchange Offers and Consent Solicitations and the Separation, including but not limited to all statements about the timing and consummation of the Exchange Offers and Consent Solicitations and the Separation, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current assumptions regarding future business and financial performance and, by their nature, address matters that are uncertain to different degrees. You can identify forward-looking statements by the use of words such as "plans," "expects," "will," "anticipates," "believes," "intends," "projects," "estimates," "outlook" or other words of similar meaning. These forward-looking statements are subject to risks and uncertainties that could cause actual results to be materially different from those set forth in such forward-looking statements, including but not limited to, the risk: (i) that general economic and capital markets conditions may adversely affect the Exchange Offers and Consent Solicitations or the Separation; (ii) that the conditions to the Exchange Offers and Consent Solicitations or the Separation may not be satisfied or waived; (iii) that any event, change or other circumstance could give rise to the termination of the Exchange Offers and Consent Solicitations and/or the Separation; (iv) of the effects that any termination of the Separation may have on Corteva or its subsidiaries; (v) that legal proceedings may be instituted related to the Separation or otherwise; (vi) of unexpected costs, charges or expenses; and (vii) of other risks and uncertainties described in Corteva's and EIDP's filings with the U.S. Securities and Exchange Commission (the "SEC"), including under the heading "Risk Factors" (Item 1A) in Corteva's most recently filed Annual Report on Form 10-K and in Corteva's subsequent Quarterly Reports on Form 10-Q, and in other documents that Corteva or EIDP files or furnishes with the SEC. Neither Corteva nor EIDP undertakes any obligation to update or revise any forward-looking statement, except as required by applicable law.
, /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) announced today that Vylor Inc., a Delaware corporation and its wholly owned subsidiary ("Vylor"), has extended the expiration date of each of its previously announced (i) private offers to exchange (with respect to each series, an "Exchange Offer" and together, the "Exchange Offers") any and all of the outstanding senior notes of the series listed in the table below issued by EIDP, Inc., a Delaware corporation and a wholly owned subsidiary of Corteva ("EIDP" and such notes, collectively, the "EIDP Notes"), to the extent held by eligible holders, for a corresponding series of notes to be newly issued by Vylor (collectively, the "Vylor Notes") and (ii) related consent solicitations (the "Consent Solicitations") made by Vylor on behalf of EIDP to adopt certain proposed amendments to the indentures governing the EIDP Notes (the "Proposed Amendments"). Vylor hereby extends the expiration date of each Exchange Offer and Consent Solicitation from 5:00 p.m., New York City time, on September 29, 2026 to 5:00 p.m., New York City time, on September 30, 2026 (such date and time, as they may be further extended, the "Expiration Date").
The table below sets forth, for each series of EIDP Notes, the principal amount validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on September 29, 2026.
EIDP Notes Validly Tendered
and Not Validly Withdrawn as of
5:00 p.m., New York City time,
on September 29, 2026
Title of
Series of
EIDP
Notes
CUSIP No.
and ISIN of
EIDP Notes
Aggregate
Principal
Amount of
EIDP Notes
Outstanding
Vylor Notes
to be
Issued in
Exchange
for EIDP
Notes
Principal
Amount
Percentage
2.300% Senior
Notes due 2030
263534CP2
US263534CP24
$
500,000,000
2.300% Senior Notes
due 2030
$434,841,000
86.97 %
5.125% Senior Notes
due 2032
263534CS6
US263534CS62
$
500,000,000
5.125% Senior Notes
due 2032
$476,214,000
95.24 %
4.800% Senior Notes
due 2033
263534CR8
US263534CR89
$
600,000,000
4.800% Senior Notes
due 2033
$527,584,000
87.93 %
The Exchange Offers and Consent Solicitations are being made upon the terms and conditions set forth in an exchange offer memorandum and consent solicitation statement, dated August 6, 2026 (as amended or supplemented, the "Offering Memorandum"), copies of which have been made available to holders of the EIDP Notes eligible to participate in the Exchange Offers and Consent Solicitations. Each Exchange Offer and Consent Solicitation is conditioned upon, among other things, the consummation of Corteva's planned separation into two independent, publicly traded companies, one comprising its current crop protection business and the other comprising its current seed business to be owned and conducted, directly or indirectly, by Vylor (the "Separation"). Other than the Separation (without the consummation of which the Exchange Offers and Consent Solicitations will not be consummated and the Proposed Amendments contemplated by the Consent Solicitations will not become operative), Vylor may generally waive any condition with respect to the Exchange Offers and Consent Solicitations, in its sole discretion, at any time prior to the Expiration Date.
As previously announced, Vylor received, on behalf of EIDP, the requisite consents to adopt the Proposed Amendments. EIDP and the trustee under the indentures governing the EIDP Notes executed and delivered a supplemental indenture giving effect to the Proposed Amendments. The Proposed Amendments will become operative only upon the settlement of the Exchange Offers and Consent Solicitations on the Settlement Date (as defined below).
Assuming the remaining conditions to the Exchange Offers and Consent Solicitations are satisfied or (to the extent permitted) waived, settlement of the Exchange Offers is expected to occur on or about the first business day following the Expiration Date and substantially simultaneously with the consummation of the Separation, unless Vylor further extends or terminates the Exchange Offers (such date and time, as the same may be extended, the "Settlement Date"). Accordingly, Vylor may, in its discretion, further extend each of the Expiration Date and the Settlement Date as necessary to maintain such sequencing.
Except as described in this press release, all other terms of the Exchange Offers and Consent Solicitations remain unchanged. Vylor reserves the right to terminate, withdraw, amend or extend an Exchange Offer and Consent Solicitation in its sole discretion, subject to the terms and conditions set forth in the Offering Memorandum.
The Exchange Offers and Consent Solicitations are being made only to holders of EIDP Notes who satisfy the eligibility conditions described under "Disclaimer" below. Holders of EIDP Notes who desire a copy of the eligibility letter should contact D.F. King & Co., Inc., the information agent and exchange agent for the Exchange Offers and Consent Solicitations, by phone at (800) 283-9185 or by email at [email protected]. Banks and brokers should call (646) 461-2610. The eligibility letter may also be found here: www.dfking.com/vylor. D.F. King & Co., Inc. will also provide copies of the Offering Memorandum to eligible holders of EIDP Notes.
Holders of EIDP Notes are advised to check with any bank, securities broker or other intermediary through which they hold EIDP Notes as to when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in, or (in the circumstances in which revocation is permitted) revoke their instruction to participate in, the Exchange Offers and Consent Solicitations before the deadlines specified herein and in the Offering Memorandum. The deadlines set by each clearing system for the submission and withdrawal of exchange instructions will also be earlier than the relevant deadlines specified herein and in the Offering Memorandum.
Disclaimer
This press release is issued pursuant to Rule 135c under the Securities Act of 1933, as amended (the "Securities Act"). This press release is neither an offer to sell nor the solicitation of an offer to buy the Vylor Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful. The Exchange Offers and Consent Solicitations have not been and will not be registered under the Securities Act, or the securities laws of any other jurisdiction, and, accordingly, the Vylor Notes will be subject to transfer restrictions unless and until the Vylor Notes are registered or exchanged for registered notes. The Vylor Notes will be issued in reliance upon exemptions from, or in transactions not subject to, registration under the Securities Act. The Exchange Offers and Consent Solicitations are being made only to, and the Vylor Notes will be offered for exchange only to, holders of EIDP Notes who are (i) reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act, and (ii) outside the United States, persons who are not, and who are not acting for the account or benefit of, "U.S. persons" (as defined in Rule 902 under the Securities Act) in compliance with Regulation S under the Securities Act. The Vylor Notes will not be offered or sold in the United States or to U.S. persons (as defined in Rule 902 under the Securities Act) unless the transaction is registered under the Securities Act, an exemption from the registration requirements of the Securities Act is available or the transaction is not subject to registration under the Securities Act.
The Exchange Offers and Consent Solicitations are being made only pursuant to the Offering Memorandum. The Offering Memorandum and other documents relating to the Exchange Offers and Consent Solicitations will be distributed only to holders of EIDP Notes who confirm that they are within the categories of eligible participants in the Exchange Offers and Consent Solicitations. None of Vylor, its directors or officers, the dealer managers and solicitation agents, the exchange agent, the information agent, the trustees for the Vylor Notes or the EIDP Notes, their respective affiliates, or any other person is making any recommendation as to whether holders should tender their EIDP Notes in the Exchange Offers or deliver related consents to the Proposed Amendments in the Consent Solicitations.
The complete terms and conditions of the Exchange Offers and Consent Solicitations are set forth in the Offering Memorandum. The Exchange Offers and Consent Solicitations are only being made pursuant to the Offering Memorandum. The Exchange Offers and Consent Solicitations are not being made to holders of EIDP Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY OTHER REGULATORY BODY HAS REGISTERED, RECOMMENDED OR APPROVED OF THE VYLOR NOTES OR PASSED UPON THE ACCURACY OR ADEQUACY OF THE OFFERING MEMORANDUM. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
About Corteva
Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.
Cautionary Statement on Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the U.S. federal securities laws about Corteva, Vylor, EIDP, the Exchange Offers and Consent Solicitations and the Separation, including but not limited to all statements about the timing and consummation of the Exchange Offers and Consent Solicitations and the Separation, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current assumptions regarding future business and financial performance and, by their nature, address matters that are uncertain to different degrees. You can identify forward-looking statements by the use of words such as "plans," "expects," "will," "anticipates," "believes," "intends," "projects," "estimates," "outlook" or other words of similar meaning. These forward-looking statements are subject to risks and uncertainties that could cause actual results to be materially different from those set forth in such forward-looking statements, including but not limited to, the risk: (i) that general economic and capital markets conditions may adversely affect the Exchange Offers and Consent Solicitations or the Separation; (ii) that the conditions to the Exchange Offers and Consent Solicitations or the Separation may not be satisfied or waived; (iii) that any event, change or other circumstance could give rise to the termination of the Exchange Offers and Consent Solicitations and/or the Separation; (iv) of the effects that any termination of the Separation may have on Corteva or its subsidiaries; (v) that legal proceedings may be instituted related to the Separation or otherwise; (vi) of unexpected costs, charges or expenses; and (vii) of other risks and uncertainties described in Corteva's and EIDP's filings with the U.S. Securities and Exchange Commission (the "SEC"), including under the heading "Risk Factors" (Item 1A) in Corteva's most recently filed Annual Report on Form 10-K and in Corteva's subsequent Quarterly Reports on Form 10-Q, and in other documents that Corteva or EIDP files or furnishes with the SEC. Neither Corteva nor EIDP undertakes any obligation to update or revise any forward-looking statement, except as required by applicable law.
, /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) and Inari, the SEEDesign™ company, announced they have reached a confidential settlement agreement to resolve the lawsuit filed by Corteva in September 2023 that was pending in the United States District Court for the District of Delaware. As part of the settlement, Inari has agreed to destroy Corteva material it accessed from seed depositories and material developed from the deposits and assign to Corteva the intellectual property related to its edited versions of Corteva events. In addition, Corteva and Inari have agreed to negotiate certain licensing arrangements. Other terms of the settlement are confidential.
Global patent and plant variety protection systems that protect agricultural innovation help promote continued investment, competition and collaboration in the development of improved seed products that benefit farmers. Patent depositories and their procedures on access to biological material serve an important function as part of these systems.
The rulings in this case reinforce applicable rights with respect to seed deposits. Corteva and Inari agree that it is important to abide by applicable patent and other laws and contracts relating to deposited materials.
The case is Corteva Agriscience LLC, Pioneer Hi-Bred International, Inc., and Agrigenetics, Inc. v. Inari Agriculture, Inc. and Inari Agriculture NV, C.A. No. 23-1059 (JFM).
About Corteva
Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.
About Inari
Inari is the SEEDesign™ company, revolutionizing plant performance with high-impact, high-value solutions for broadacre crops. At its core is the AI-enabled SEEDesign™ Platform, the industry's most sophisticated performance accelerator integrating breakthroughs in genomics, machine learning and gene editing technology to deliver ROI from the lab to the field. Founded by Flagship Pioneering in 2016, Inari is based in Cambridge, Mass., with additional sites in West Lafayette, Ind., and Ghent, Belgium. Inari brings together a global team of more than 200 employees dedicated to solving the critical issues of food security and sustainability. To learn more, visit Inari.com.
, /PRNewswire/ -- Corteva (NYSE: CTVA) today announced that the U.S. Securities and Exchange Commission has declared effective Vylor's Registration Statement on Form 10. The Form 10 includes information regarding the business, strategy and priorities for Vylor, as well as details about the separation of Vylor into an independent, publicly traded company, which is expected to be completed on October 1, 2026. The Form 10 can be found on Corteva's website at: SEC Filing | Corteva Agriscience.
As previously announced, upon the completion of the separation, each Corteva stockholder of record as of the close of business on September 24, 2026 will receive one share of Vylor common stock for every share of Corteva common stock held of record by such stockholder as of such time. The distribution is expected to occur prior to 9:30 a.m., New York City time, on October 1, 2026. Vylor common stock has been authorized for listing on the New York Stock Exchange ("NYSE") and is expected to begin "regular-way" trading on the NYSE under the symbol "VYLR" on October 1, 2026. Corteva has determined that there will not be "when-issued" trading in Vylor common stock or "ex-distribution" trading in Corteva common stock prior to the distribution.
About Corteva
Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.
About Vylor
Vylor is an advanced seed and genetics company that has, for more than a century, been focused on delivering groundbreaking innovation to farmers. Anchored in the agriculture industry's most elite germplasm and transformative biotech, Vylor leverages its scientific expertise to deliver next generation technology to help farmers around the world boost yields. With its expertise in advanced science, leading routes-to-market and an expanding licensing business, Vylor drives value and delivers growth for farmers, customers and shareholders – and in doing so, helps feed, fuel and clothe the world. More information can be found at www.vylor.com.
This press release contains certain forward-looking statements. Words such as "believe," "will," "plan," "may," "expect," "see," and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, Corteva's intent to separate and its related expectations for Corteva and Vylor. These forward-looking statements reflect management's current expectations and are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond Corteva's and Vylor's control.
Important factors that may affect Corteva's or Vylor's respective businesses and operations and that may cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, whether the objectives of the separation will be achieved; the terms, structure, benefits and costs of any action or transaction resulting from the separation; the timing of any such separation or related action and whether any such separation will be consummated at all; the risk that the announcement of the intended separation could have an adverse effect on the ability of Corteva or Vylor to retain and hire key personnel and maintain relationships with customers, suppliers, employees, shareholders and other business relationships and on its operating results and business generally; the risk the separation could divert the attention and time of each company's management; the risk of any unexpected costs or expenses resulting from the separation process or separation itself; and the risk of any litigation relating to the separation, as well as the risks and uncertainties described in Corteva's and Vylor's risk factors, as they may be amended from time to time, set forth in their respective filings with the U.S. Securities and Exchange Commission. Corteva and Vylor disclaim and do not undertake any obligation to update, revise, or withdraw any forward-looking statement in this press release, except as required by applicable law or regulation.
Key Takeaways ADM combines global processing scale with growth in nutrition, natural colors and precision fermentation.CTVA gains from Enlist adoption, branded corn leadership in Brazil and differentiated crop protection.ADM's 9.7% three-month return and 15.18X forward P/E compare with CTVA's 0.3% rise and 20.41X. Archer-Daniels-Midland Company (ADM - Free Report) and Corteva, Inc. (CTVA - Free Report) sit at different but strategically important points of the global agricultural value chain. ADM derives its strength from an expansive origination, transportation, processing and ingredients network spanning oilseeds, grains, biofuels and nutrition, giving it scale and flexibility when trade flows shift.
Corteva, by contrast, competes through intellectual property, seed genetics and differentiated crop-protection technologies sold directly into the farm economy. Its Enlist platform is expected to cover about 65% of U.S. soybean acres in 2026, while Corteva's branded corn business holds the No. 1 position in Brazil. Thus, the face-off is less about two identical competitors and more about ADM's infrastructure-led scale versus Corteva's technology-led market share and pricing power.
The Investment Case for ADMArcher-Daniels-Midland commands a strong position across the global agricultural value chain, supported by its extensive origination, processing, transportation and distribution network. The company’s broad asset footprint gives it flexibility to respond to shifts in commodity flows, trade patterns and regional demand. Recent performance in Ag Services and Oilseeds reflected effective commercial execution and higher utilization across processing assets. ADM’s competitive standing is therefore anchored less in consumer-facing market share and more in its scale across agricultural processing, biofuels, food ingredients and nutrition.
ADM is also reshaping its portfolio toward differentiated, higher-value businesses that can improve the quality of earnings over time. Natural colors have emerged as an important growth avenue as food and beverage manufacturers increasingly move toward cleaner-label formulations. The company is leveraging its established expertise in colors, flavors and formulation capabilities to support customers through this transition. Flavors are also gaining traction across international markets, while improving Specialty Ingredients performance is strengthening the broader Human Nutrition platform.
Innovation remains an important pillar of ADM’s long-term strategy. The company is expanding precision-fermentation capabilities to develop applications across human nutrition, pet food and natural ingredients, while also pursuing opportunities in plant proteins, postbiotics and fiber. These initiatives broaden ADM’s exposure to changing consumer preferences around health, wellness and ingredient transparency. At the same time, investments in automation, digitization and cybersecurity are intended to improve operating efficiency and strengthen the company’s technological foundation across its global operations.
From a financial standpoint, ADM is benefiting from stronger operating performance across its major businesses, with Ag Services and Oilseeds, Carbohydrate Solutions and Nutrition all contributing to improved profitability. Nutrition has shown particularly encouraging margin progress despite softer revenues, supported by Flavors growth and portfolio actions. Healthy cash generation and a manageable leverage position provide ADM with flexibility to fund organic expansion while maintaining capital discipline. The company is prioritizing lower-cost brownfield capacity additions, particularly in crushing and ethanol, which could enhance returns while supporting future growth.
The Investment Case for CTVACorteva holds a strong competitive position across seeds and crop protection, supported by proprietary technology, established brands and growing farmer adoption. Its Enlist platform has become a leading soybean technology in the United States, while the company also maintains a prominent position in branded corn in Brazil. Corteva is looking to deepen its presence in Brazil’s soybean market as well. Its licensing model is broadening the reach of key technologies through independent seed companies, strengthening Corteva’s farm-gate presence beyond its directly marketed brands.
The portfolio is anchored by established seed brands such as Pioneer and Brevant, supported by proprietary germplasm and an expanding trait-licensing business. On the Crop Protection side, Corteva is emphasizing differentiated chemistry, biologicals and newer technologies rather than relying heavily on commoditized products. Its development pipeline includes new active ingredients, biological solutions, hybrid wheat and next-generation traits. This breadth gives Corteva exposure to multiple areas of farmer spending while helping the company position its offerings around yield improvement, crop protection and input efficiency.
Innovation is central to Corteva’s strategy, with gene editing, biotechnology and advanced genetics shaping the next phase of portfolio development. Management is also expanding opportunities beyond traditional corn and soybean markets through hybrid wheat and biofuel-oriented crop systems. Biological products are gaining importance, particularly in Latin America, where farmers are seeking solutions that can support productivity amid elevated fertilizer costs. Corteva’s target customer remains the value-conscious grower willing to adopt premium technologies when they can improve yields, protect crops or enhance farm economics.
Financial performance reflects the benefits of this technology-led positioning. Organic growth has been supported by gains across both Seed and Crop Protection, while favorable price and mix in Seed and rising volumes in newer Crop Protection products have strengthened operating performance. Productivity initiatives, lower input costs and reduced royalty expenses are also supporting margin expansion. Corteva expects its Seed business to move toward a more favorable royalty position, which could further improve earnings quality. The broader investment case rests on converting proprietary innovation, licensing expansion and differentiated products into sustained market penetration and stronger profitability.
How Do Estimates Compare for ADM & CTVA?The Zacks Consensus Estimate for Archer-Daniels-Midland’s fiscal 2026 EPS suggests year-over-year growth of 52.2%, while the estimate for fiscal 2027 indicates an increase of 3.5%. ADM’s EPS estimates have been stable in the past 30 days.
ADM’s Estimate Revision Trend
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Corteva’s 2026 sales and EPS suggests year-over-year growth of 4.1% and 11.4%, respectively. The EPS estimate has been stable in the past 30 days.
CTVA’s Estimate Revision Trend
Image Source: Zacks Investment Research
Price Performance & Valuation of ADM & CTVAIn the past three months, ADM stock has had the edge in terms of performance, having recorded a total return of 9.7%. This has noticeably outpaced CTVA's 0.3% rise.
ADM vs. CTVA: 3-Month Price Performance
Image Source: Zacks Investment Research
From a valuation perspective, ADM trades at a forward price-to-earnings (P/E) multiple of 15.18X. Moreover, CTVA stock trades above Archer-Daniels-Midland’s forward 12-month P/E multiple of 20.41X.
Image Source: Zacks Investment Research
The valuation gap suggests that investors are currently assigning a richer premium to CTVA, potentially reflecting expectations for stronger growth from its differentiated seed and crop-protection portfolio. In contrast, ADM combines stronger recent share-price performance with a lower earnings multiple, making the valuation comparison particularly noteworthy.
ADM vs. CTVA: Which Is the Better Bet Now?In comparing the two, both companies offer distinct investment narratives, but with different risk-reward profiles. Archer-Daniels-Midland stands out for its diversified agricultural platform, improving operating performance, stronger recent price momentum and relatively attractive valuation. Corteva, on the other hand, offers a technology-driven growth story supported by leadership in seeds, crop protection and biologicals, but its richer valuation makes the near-term setup comparatively less compelling. ADM’s combination of earnings growth prospects, valuation support and stronger market performance gives it an edge at this stage, making it the relatively better bet for investors.
ADM currently sports a Zacks Rank #1 (Strong Buy), while CTVA has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Agriculture – Operations industry is positioned to benefit from several long-term structural growth drivers. Ongoing innovation in seeds, crop inputs, food processing and supply-chain technologies is creating avenues for growth, while increasing consumer preference for healthier and sustainably produced food continues to influence demand trends. Investments in automation, grain handling, storage and logistics are also helping operators improve efficiency, reduce costs and strengthen productivity.
At the same time, rising demand from emerging markets and the expanding adoption of alternative proteins are broadening growth opportunities across the value chain. Companies are further enhancing their competitive positions through acquisitions, strategic partnerships and capacity expansions.
Industry leaders such as Corteva Inc. (CTVA - Free Report) , Archer Daniels Midland Company (ADM - Free Report) , The Scotts Miracle-Gro Company (SMG - Free Report) , Mission Produce Inc. (AVO - Free Report) and Dole Plc (DOLE - Free Report) are well-positioned to benefit from the evolving global food and agriculture trends.
However, industry participants continue to contend with persistent structural headwinds, including volatile commodity prices, elevated input and labor costs, trade-related uncertainties and rising operating expenses. These pressures are weighing on margins, complicating production planning and increasing the need for disciplined cost management. Companies must continue investing in technology, capacity and supply-chain resilience to support long-term competitiveness. Balancing near-term profitability with strategic investment therefore remains a key challenge for operators across the industry.
About the Industry The Zacks Agriculture – Operations industry comprises companies that produce or procure, transport, store, process and distribute agricultural commodities to consumers. It also distributes ingredients to other parts of the agriculture industry (including clothing, animal feed, energy and industrial products). Some industry players engage in dairy operations, land transformation activities and the development of food ingredients using gene-editing technology. The industry encompasses production activities related to the traditional farming of crops (like corn, soybean, wheat and cotton), and livestock and poultry products (including meat, dairy and eggs). The products are mainly sold at grocery stores or exported overseas. These are also used as feedstock for other industries. For example, cotton is used in the clothing industry and corn is used in the ethanol industry.
Factors Shaping the Future of Agriculture - Operations Industry Organic Products & Innovation in Focus: The industry has gained from rising consumer demand for healthier food, accelerating a shift toward organic farming and lower chemical and pesticide use. Innovations in food processing, enhanced grain-handling techniques, increased storage capacity and strong demand from emerging markets are driving growth. As healthy eating trends expand, alternative protein consumption is expected to rise. To align with trends in food security, health and well-being, industry players are prioritizing productivity and innovation. Technology adoption is poised to play an increasingly important role in improving farm productivity and offsetting labor and input constraints. Companies are also investing in acquisitions and joint ventures to create high-quality ingredients and solutions that meet the growing demand for healthy products.
Agricultural Export/Import Projections: The August 2026 outlook of the U.S. Department of Agriculture (“USDA”) projects agricultural exports of $179.5 billion for fiscal 2026 (ending Sept. 30, 2026), up $3 billion from the May forecast of $176.5 billion. At the same time, expected agricultural imports have been lowered to $204.5 billion, narrowing the projected trade deficit to $25 billion from $42.9 billion in fiscal 2025. Corn is expected to be a major contributor, with exports forecast at $19.1 billion, while dairy products and tree nuts are projected at $10.4 billion and $12.2 billion, respectively. The stronger export outlook should provide some demand support to U.S. producers grappling with softer commodity prices and elevated production costs, although agricultural imports are still expected to exceed exports materially. The trade picture is projected to improve further in fiscal 2027, with USDA forecasting agricultural exports to rise to $186.5 billion and the trade deficit to narrow modestly to $24.5 billion.
Elevated Costs: Agricultural companies face rising costs due to fluctuating commodity prices, inflation-driven input increases and trade uncertainties, all of which are squeezing profitability. Inflation-driven surges in input costs are significant challenges, raising production expenses and narrowing margins. To combat these pressures, companies have adopted pricing strategies and improved supply-chain resilience through partnerships and distribution initiatives. However, commodity cost inflation is expected to persist, maintaining pressure on margins in the near term.
Additionally, companies are managing higher SG&A expenses, driven by performance-related compensation, project costs and technology investments to stay competitive. These elevated operating expenses and ongoing SG&A deleverage may continue to weigh on profitability.
Zacks Industry Rank Indicates Bright Prospects The Zacks Agriculture – Operations industry is within the broader Zacks Consumer Staples sector. The industry currently carries a Zacks Industry Rank #107, which places it in the top 43% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bright near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
The industry’s positioning in the top 50% of the Zacks-ranked industries resulted from a positive aggregate earnings outlook for the constituent companies. Looking at the aggregate earnings estimate revisions, analysts are gradually gaining confidence in this group’s earnings growth potential.
Before we present a few stocks that you may want to consider for your portfolio, let us look at the industry’s recent stock-market performance and valuation picture.
Industry vs. Broader Market In a year, the Zacks Agriculture – Operations industry has outperformed the Zacks Consumer Staples sector but has underperformed the S&P 500.
The stocks in the industry have collectively rallied 11.9% in a year compared with a 4.6% return for the sector and 15.3% growth for the Zacks S&P 500 composite.
1-Year Price Performance
Agriculture - Operations Industry's Valuation On the basis of the forward 12-month price-to-earnings (P/E) ratio, which is commonly used for valuing Consumer Staples stocks, the Agriculture – Operations industry is currently trading at 15.13X compared with the S&P 500’s 19.65X and the sector’s 16.95X.
Over the last five years, the industry traded as high as 17.34X, as low as 11.33X and at the median of 14.32X, as the chart below shows.
Price-to-Earnings Ratio (Past 5 Years)
5 Agriculture Operations Stocks to Watch One stock in the Zacks Agriculture – Operations universe currently sports a Zacks Rank #1 (Strong Buy), while two stocks have a Zacks Rank #2 (Buy). We have highlighted two other stocks currently carrying a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
Archer Daniels: This Chicago, IL-based agricultural product company’s leadership in critical global trends, such as flexitarian diets, nutrition and sustainable materials, has contributed to its momentum. Its focus on investing in assets and technological capabilities to serve customers efficiently is likely to be a significant growth driver. Solid demand, improved productivity and product innovations have been aiding the company. Its Readiness program, positive cash flow and solid performance at the Nutrition unit have been supporting the results. The Zacks Rank #1 company has been progressing well on its three strategic pillars — optimize, drive and growth.
Archer Daniels is poised to benefit from strong performance in its Nutrition segment, driven by significant gains in the Human and Animal Nutrition units. The Zacks Consensus Estimate for ADM’s 2026 earnings has been unchanged in the past 30 days. The Zacks Consensus Estimate for Archer Daniels’ 2026 sales and earnings suggests growth of 6.6% and 52.2%, respectively, from the year-ago period’s reported figures. It delivered an earnings surprise of 11.3%, on average, in the trailing four quarters. The company has rallied 39.8% in the past year.
Price & Consensus: ADM
Mission Produce: This Oxnard, CA-based company is engaged in sourcing, farming, packaging, marketing and distributing avocados, mangoes and blueberries to food retailers, distributors and foodservice customers in the United States and internationally. By effectively integrating its sales operations with sourcing teams, the company has demonstrated an exceptional ability to meet customer demand while optimizing per-unit margins. This alignment allows Mission Produce to leverage a sustained higher pricing environment, ensuring profitability and consistent performance in its Marketing and Distribution segment.
The Zacks Consensus Estimate for Mission Produce’s fiscal 2026 earnings has moved up 5.2% in the past seven days. The Zacks Consensus Estimate for its fiscal 2026 sales suggests growth of 2.8% from the year-ago period’s reported figure, while the same for earnings indicates a decline of 22.8%. The Zacks Rank #2 company has delivered an earnings surprise of 17.6%, on average, in the trailing four quarters. The AVO stock has lost 2.1% in the past year.
Price & Consensus: AVO
Dole: This Dublin, Ireland-based global leader in fresh produce is poised to benefit from improved logistical efficiencies in several areas, which brought increased stability to its core fruit business. The company’s diverse sourcing network and advanced farming practices are likely to help overcome the weather challenges in various regions. DOLE benefited from a healthier supply and demand balance, which allowed for a better pricing environment in Europe and much-improved selling conditions in the non-core markets.
The Zacks Consensus Estimate for Dole’s 2026 earnings has been unchanged in the past 30 days. The Zacks Consensus Estimate for its 2026 sales and earnings suggests growth of 5.6% and 11.7%, respectively, from the year-ago period’s reported figure. The Zacks Rank #2 company delivered a negative earnings surprise of 1.4%, on average, in the trailing four quarters. The DOLE stock has declined 3.7% in the past year.
Price & Consensus: DOLE
Corteva: This Wilmington, DE-based pure-play agriculture company is poised to drive above-market growth through its industry-leading product pipeline and rigorous approach to innovation and operating discipline. It is poised to accelerate its pace of innovation and existing leadership position in the high-value sector to meet the increasing market demand for naturally derived products through three collaboration agreements. Strong price execution in seed, supply-chain flexibility and solid market demand for its balanced and differentiated new product portfolios drive CTVA’s performance.
The Zacks Consensus Estimate for Corteva’s 2026 earnings has been unchanged in the past 30 days. The Zacks Consensus Estimate for its 2026 sales and earnings suggests growth of 4.1% and 11.4%, respectively, from the year-ago period’s reported figures. The Zacks Rank #3 company has delivered an earnings surprise of 21.9%, on average, in the trailing four quarters. The CTVA stock has risen 2.7% in the past year.
Price & Consensus: CTVA
Scotts Miracle-Gro: This Marysville, OH-based company sells a broad range of lawn and garden care products, as well as solutions for indoor and hydroponic gardening, serving customers across the United States and international markets. The company is emerging from a multi-year reset as a higher-quality, cash-generative consumer staples business. Management is refocusing on core lawn and garden brands, driving consistent volume growth, expanding margins and strengthening the balance sheet. A strategic mix shift toward higher-margin branded products, accelerating e-commerce penetration and disciplined cost savings underpin earnings growth.
With a resilient category, powerful brands and shareholder-friendly capital returns, SMG offers an improving risk-reward profile. The Zacks Consensus Estimate for SMG’s fiscal 2026 earnings moved up 0.5% in the past 30 days. The Zacks Consensus Estimate for Scotts Miracle-Gro’s fiscal 2026 sales suggests a decline of 3.6%, while the earnings estimate indicates 17.9% growth from the year-ago period’s reported figure. SMG delivered an earnings surprise of 11.8%, on average, in the trailing four quarters. The Zacks Rank #3 company has declined 8.3% in the past year.
Investors interested in Agriculture - Operations stocks are likely familiar with Dole (DOLE - Free Report) and Corteva, Inc. (CTVA - Free Report) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.
The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.
Dole has a Zacks Rank of #2 (Buy), while Corteva, Inc. has a Zacks Rank of #3 (Hold) right now. This means that DOLE's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is just one factor that value investors are interested in.
Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.
Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.
DOLE currently has a forward P/E ratio of 9.90, while CTVA has a forward P/E of 22.40. We also note that DOLE has a PEG ratio of 1.46. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CTVA currently has a PEG ratio of 2.56.
Another notable valuation metric for DOLE is its P/B ratio of 0.87. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, CTVA has a P/B of 2.19.
These are just a few of the metrics contributing to DOLE's Value grade of A and CTVA's Value grade of D.
DOLE sticks out from CTVA in both our Zacks Rank and Style Scores models, so value investors will likely feel that DOLE is the better option right now.
Corteva, Inc. (CTVA) Analyst/Investor Day September 15, 2026 1:00 PM EDT
Company Participants
Rafa Soares
Luther Kissam - Chief Executive Officer of Crop Protection Business
Reza Rasoulpour
Brook Cunningham - Senior VP & President of Corteva Asia-Pacific
Ralph Ford
Jeffrey Rudolph - Senior VP & Chief Strategy Officer
Conference Call Participants
Christopher Parkinson - Wolfe Research, LLC
Kevin McCarthy - Vertical Research Partners, LLC
David Begleiter - Deutsche Bank AG, Research Division
Edlain Rodriguez - Mizuho Securities USA LLC, Research Division
Kristen Owen - Oppenheimer & Co. Inc., Research Division
Joshua Spector - UBS Investment Bank, Research Division
Frank Mitsch - Fermium Research, LLC
Arun Viswanathan - RBC Capital Markets, Research Division
Benjamin Theurer - Barclays Bank PLC, Research Division
Matthew DeYoe - BofA Securities, Research Division
Joel Jackson - BMO Capital Markets Equity Research
Jeffrey Zekauskas - JPMorgan Chase & Co, Research Division
Salvator Tiano
Patrick Fischer - Goldman Sachs Group, Inc., Research Division
Presentation
Rafa Soares
Good afternoon, and thank you for joining us. I'm Rafa Soares, Head of Investor Relations for Corteva. It's great to have you here today. We have prepared presentation slides to supplement our remarks during this meeting, which are posted on the Investor Relations section of the Corteva website and through the link to our webcast.
We will open this afternoon with remarks from Luke Kissam, Chief Executive Officer; Luke will be followed by Dr. Reza Rasoulpour, Chief Technology Officer; and Brook Cunningham, Chief Commercial Officer. After the short break, we will hear from Ralph Ford, Chief Integrated Operations Officer; and finally, Jeff Rudolph Chief Financial Officer, who will outline our financial framework. We will then conclude the day with a Q&A session with all the leaders.
During this meeting, we will make forward-looking statements, which are our expectations about the future. These statements are based on current expectations and assumptions that are subject to various risks and uncertainties. Our actual results could
Company forecasts $500 million in NA wheat revenue by 2035, $1 billion by 2040
, /PRNewswire/ -- Ahead of its planned separation on October 1, 2026, Corteva, Inc. (NYSE: CTVA) today confirmed progress of the hybrid wheat technology platform of Vylor, its advanced seed and genetics spin-off, with the announcement of Xpedite™, the system used to create its proprietary hybrid wheat, which will launch in late 2027. Multi-year research trials demonstrate and confirm the hybrid wheat's consistently strong yields as well as its yield stability, or resilience against a variety of adverse conditions including disease and drought.
The company anticipates that hybrid wheat will accelerate the growth of its North America wheat portfolio, resulting in $500 million in revenue by 2035 and $1 billion by 2040, which includes licensing revenue, making wheat the third pillar of Vylor's business, alongside corn and soybeans.
"Wheat is grown on nearly 550 million acres globally and on more than 60 million acres in North America, making it the region's third largest row crop. It is also, importantly, a critical source of food for hundreds of millions of people, accounting for 20% of calories consumed worldwide. These numbers give a sense of the scale of the impact our technology can have," said future Vylor Chief Commercial and Operations Officer Judd O'Connor. "We're excited to start working with farmers to help them grow more of this critical crop and help meet the needs of a growing global population."
Hybrid seeds are created by crossing two genetically different parents to ultimately produce more resilient, higher yielding plants for farmers. Vylor's hybrid wheat is built on a first-of-its kind system, proprietary and non-GMO; it increases yield potential by 10%1 while using the same amount of land and resources, is more resistant to drought – hybrid wheat created using Xpedite can yield up to 20%2 higher than elite varieties in water-stressed environments – and accelerates the speed to market of new elite germplasm by increasing the scale of parent seed production. As a product of conventional breeding, the hybrid wheat Vylor will launch in North America does not require regulatory approval.
1
Internal yield testing on launch hybrids: three years (2024, 2025, 2026) of testing with 41 locations in Kansas, Nebraska, Colorado and Oklahoma; and pipeline hybrids: one year (2026) of testing at 18 locations in Kansas, Nebraska, Colorado and Oklahoma.
2
Internal yield testing on launch hybrids: three years (2024, 2025, 2026) of testing with 20 locations in Kansas, Colorado, Nebraska and Oklahoma; and pipeline hybrids: one year (2026) of testing at 10 locations in Kansas, Colorado, Nebraska and Oklahoma
Unlike other wheat hybridization systems that have been known for decades, Vylor's proprietary technology has been shown in trials to work in 100% of wheat germplasm tested – enabling more rapid genetic gains and delivery of seed at a commercial scale. The company expects its hybrid wheat technology will, when compared to conventional wheat, double the rate of annual genetic gain by 2040.
Vylor's hybrid wheat delivers grain meeting the same quality standards as varietal wheat and requires no special equipment or management, allowing farmers to maintain their current farming practices. The company will launch Hard Red Winter wheat in 2027 in North America, and expect to add Soft Red Winter in 2029 and Hard Red Spring in 2030 while also expanding to other regions around the world via the company's branded business as well as through licensing and other partnerships, including acquisitions.
Click here to watch the Vylor video about the science of hybrid wheat.
Cautionary and Forward-Looking Statements
Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: Corteva and its respective representatives may from time to time make written or oral statements that are "forward-looking" and provide other than historical information, including statements contained in this press release, in the company's other filings with the Securities and Exchange Commission ("SEC"), and in presentations, reports or letters to its stockholders.
In some cases, the company identified these forward-looking statements by such words or phrases as "plans," "outlook," "will," "is designed to," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "predicts," "forecasts," "estimates," "projects," "potential," "intends," or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words or phrases. Such forward-looking statements are based on the company's current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. The forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These statements are qualified by reference to the risk factors included in Part I, Item 1A of Corteva's Annual Report on Form 10-K for the year ended December 31, 2025 (the "2025 Form 10-K"), the section captioned "Forward-Looking Information" in Part II of the 2025 Form 10-K, the "Risk Factors" and "Cautionary Statement Concerning Forward-Looking Statements" sections of the preliminary information statement filed as Exhibit 99.1 to Vylor Inc.'s ("Vylor") Registration Statement on Form 10, as amended, and to similar risk factors and cautionary statements in all other reports and forms filed with the SEC.
We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. We specifically decline to undertake any obligation, and specifically disclaim any duty, to publicly update or revise any forward-looking statements that have been made to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as may be required by law.
Examples of forward-looking statements include, but are not limited to, Corteva's intent to separate and its related expectations for Corteva and Vylor, including the anticipated timing, attributes, performance and financial, competitive and other benefits of these and any other products in Vylor's pipeline. These forward-looking statements reflect management's current expectations and are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond Corteva's control.
About Vylor
Vylor is an advanced seed and genetics company that has, for more than a century, been focused on delivering groundbreaking innovation to farmers. Anchored in the agriculture industry's most elite germplasm and transformative biotech, Vylor leverages its scientific expertise to deliver next generation technology to help farmers around the world boost yields. With its expertise in advanced science, leading routes-to-market and an expanding licensing business, Vylor drives value and delivers growth for farmers, customers and shareholders – and in doing so, helps feed, fuel and clothe the world. More information at vylor.com.
Launch of New Platforms to Outpace Industry and Deliver ~$500M Incremental Revenue by 2035
, /PRNewswire/ -- Ahead of its planned separation on October 1, 2026, Corteva, Inc. (NYSE: CTVA) today announced plans to ramp up the soybean strategy of Vylor, it's advanced seed and genetics spin-off, launching four new technology platforms by 2035, including a proprietary, next generation technology platform for Latin America that will include the broadest spectrum of insect control on the market while also delivering strong yields for farmers and significant licensing opportunities for Vylor.
Vylor's launches through the end of the decade and into the early 2030s – spanning insect and disease control as well as herbicide tolerance options – will outpace every other player in the market; when combined, they will cover 95% of its soybean business. Combined with its continually improving, elite genetics, Vylor aims to leverage these technology platforms to deliver global soybean market leadership by the mid-2030s.
"Vylor has earned its market leadership in North America with its safe, effective technology, and today, we are laying the foundation to maintain and expand that leadership. We aim to leverage our market-leading Enlist E3® technology* with herbicide tolerance innovations that cement our leadership in North America and, through our elite germplasm and effective, broad-spectrum insect control package in Latin America and accelerate growth through licensing," said Judd O'Connor, chief commercial and operations officer for the future Vylor.
In North America, Vylor will expand beyond its proven Enlist E3 technology and launch its next generation herbicide tolerance platforms as soon as early next decade in its suite of products, offering farmers both elite germplasm and full protection of its superior yield potential. This suite of product offerings will allow Vylor to maintain and expand its soybean leadership across North America.
In Latin America, Vylor will continue its Conkesta® E3® momentum through the end of the decade, then pivoting to a new platform by coupling its elite germplasm with groundbreaking, next-gen, proprietary broad spectrum insect control and proven herbicide tolerance. The company expects its insect control package, which will include industry-leading yield performance, to become the preferred solution in the region. This technology is simpler to breed, making it faster and more efficient to deploy as compared to others, and will drive the company's market leadership in Latin America.
Vylor is also advancing two industry firsts: a first-generation product to combat Asian Soybean Rust and protect yield potential and a gene edited, multi-disease resistance soybean. These technology platforms, expected in the mid-2030s, will complement the company's germplasm gains and broaden the role of soybean technology beyond herbicide and insect traits alone.
Overall, Vylor's soybean strategy comprises two pillars:
Expand leadership by protecting the performance delivered by its elite germplasm coupled with gene editing and trait solutions on herbicide tolerance, disease and insect control; and Create a royalty-advantaged innovation engine that supports proprietary brands, licensing growth and sustained leadership. Vylor's leadership in soybeans is built on its elite germplasm and the success of its Enlist E3 franchise, which helped the company achieve and maintain the #1 position in North America in soybeans.
Cautionary and Forward-Looking Statements
Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: Corteva and its respective representatives may from time to time make written or oral statements that are "forward-looking" and provide other than historical information, including statements contained in this press release, in the company's other filings with the Securities and Exchange Commission ("SEC"), and in presentations, reports or letters to its stockholders.
In some cases, the company identified these forward-looking statements by such words or phrases as "plans," "outlook," "will," "is designed to," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "predicts," "forecasts," "estimates," "projects," "potential," "intends," or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words or phrases. Such forward-looking statements are based on the company's current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. The forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These statements are qualified by reference to the risk factors included in Part I, Item 1A of Corteva's Annual Report on Form 10-K for the year ended December 31, 2025 (the "2025 Form 10-K"), the section captioned "Forward-Looking Information" in Part II of the 2025 Form 10-K, the "Risk Factors" and "Cautionary Statement Concerning Forward-Looking Statements" sections of the preliminary information statement filed as Exhibit 99.1 to Vylor Inc.'s ("Vylor") Registration Statement on Form 10, as amended, and to similar risk factors and cautionary statements in all other reports and forms filed with the SEC.
We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. We specifically decline to undertake any obligation, and specifically disclaim any duty, to publicly update or revise any forward-looking statements that have been made to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as may be required by law.
Examples of forward-looking statements include, but are not limited to, Corteva's intent to separate and its related expectations for Corteva and Vylor, including the anticipated timing, attributes, performance and financial, competitive and other benefits of these and any other products in Vylor's pipeline. These forward-looking statements reflect management's current expectations and are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond Corteva's control.
About Vylor
Vylor is an advanced seed and genetics company that has, for more than a century, been focused on delivering groundbreaking innovation to farmers. Anchored in the agriculture industry's most elite germplasm and transformative biotech, Vylor leverages its scientific expertise to deliver next generation technology to help farmers around the world boost yields. With its expertise in advanced science, leading routes-to-market and an expanding licensing business, Vylor drives value and delivers growth for farmers, customers and shareholders – and in doing so, helps feed, fuel and clothe the world. More information at vylor.com.
Corteva (NYSE:CTVA – Get Free Report) and Kronos Worldwide (NYSE:KRO – Get Free Report) are both materials companies, but which is the superior business? We will compare the two companies based on the strength of their dividends, analyst recommendations, earnings, risk, profitability, valuation and institutional ownership.
Dividends Corteva pays an annual dividend of $0.72 per share and has a dividend yield of 0.9%. Kronos Worldwide pays an annual dividend of $0.20 per share and has a dividend yield of 2.5%. Corteva pays out 47.7% of its earnings in the form of a dividend. Kronos Worldwide pays out -21.1% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. Corteva has raised its dividend for 5 consecutive years. Kronos Worldwide is clearly the better dividend stock, given its higher yield and lower payout ratio.
Profitability This table compares Corteva and Kronos Worldwide’s net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets Corteva 5.66% 10.18% 6.00% Kronos Worldwide -5.63% -12.28% -5.16% Institutional & Insider Ownership 81.5% of Corteva shares are held by institutional investors. Comparatively, 15.1% of Kronos Worldwide shares are held by institutional investors. 0.2% of Corteva shares are held by company insiders. Comparatively, 0.2% of Kronos Worldwide shares are held by company insiders. Strong institutional ownership is an indication that endowments, large money managers and hedge funds believe a company will outperform the market over the long term. Analyst Recommendations This is a breakdown of recent ratings and price targets for Corteva and Kronos Worldwide, as reported by MarketBeat.com.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Corteva 0 9 14 0 2.61 Kronos Worldwide 2 1 1 0 1.75 Corteva presently has a consensus target price of $91.50, suggesting a potential upside of 10.76%. Kronos Worldwide has a consensus target price of $8.50, suggesting a potential upside of 5.49%. Given Corteva’s stronger consensus rating and higher probable upside, equities analysts plainly believe Corteva is more favorable than Kronos Worldwide.
Risk and Volatility Corteva has a beta of 0.57, indicating that its stock price is 43% less volatile than the S&P 500. Comparatively, Kronos Worldwide has a beta of 1.08, indicating that its stock price is 8% more volatile than the S&P 500.
Valuation & Earnings This table compares Corteva and Kronos Worldwide”s gross revenue, earnings per share (EPS) and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Corteva $17.40 billion 3.17 $1.09 billion $1.51 54.71 Kronos Worldwide $1.94 billion 0.48 -$110.90 million ($0.95) -8.48 Corteva has higher revenue and earnings than Kronos Worldwide. Kronos Worldwide is trading at a lower price-to-earnings ratio than Corteva, indicating that it is currently the more affordable of the two stocks.
Summary Corteva beats Kronos Worldwide on 13 of the 17 factors compared between the two stocks.
About Corteva (Get Free Report)
Corteva, Inc. operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics. This segment also provides digital solutions that assist farmer decision-making with a view to optimize product selection, and maximize yield and profitability. The Crop Protection segment offers products that protect against weeds, insects and other pests, and diseases, as well as enhances crop health above and below ground through nitrogen management and seed-applied technologies. This segment provides herbicides, insecticides, nitrogen stabilizers, and pasture and range management herbicides. It serves agricultural input industry. The company operates in the United States, Canada, Latin America, the Asia Pacific, Europe, the Middle East, and Africa. Corteva, Inc. was incorporated in 2018 and is headquartered in Indianapolis, Indiana.
(Get Free Report)
Kronos Worldwide, Inc. produces and markets titanium dioxide pigments (TiO2) in Europe, North America, the Asia Pacific, and internationally. The company produces TiO2 in two crystalline forms, rutile and anatase to impart whiteness, brightness, opacity, and durability for various products, including paints, coatings, plastics, paper, fibers, and ceramics, as well as for various specialty products, such as inks, foods, and cosmetics. It also produces ilmenite, a raw material used directly as a feedstock by sulfate-process TiO2 plants; iron-based chemicals, which are used as treatment and conditioning agents for industrial effluents and municipal wastewater, as well as in the manufacture of iron pigments, cement, and agricultural products; specialty chemicals for use in the formulation of pearlescent pigments, and production of electroceramic capacitors for cell phones and other electronic devices, as well as for use in natural gas pipe, and other specialty applications. In addition, the company provides technical services for its products. It sells its products under the KRONOS brand through agents and distributors to paint, plastics, decorative laminate, and paper manufacturers. The company was founded in 1916 and is headquartered in Dallas, Texas. Kronos Worldwide, Inc. is a subsidiary of Valhi, Inc.
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Future crop protection company will be a strongly capitalized market leader with compelling value proposition for farmers, shareholders
, /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) categorically rejects the attempt by a number of State Attorneys General to prevent Corteva's planned separation. The planned separation of the company will result in the creation of two companies built to lead their respective industries. The crop protection company, which will retain the Corteva brand, will be an innovation-driven market leader at a time when innovative, safe, effective crop protection has never been more needed by farmers fighting intensifying pest, disease and weed pressures that rob yield and threaten food security.
Corteva will vigorously defend its planned separation against the attempt by the State Attorneys General to stop it on the basis of alleged PFAS liabilities. The underlying claims on which this extraordinary relief is sought are speculative and unproven, relying on novel legal theories and groundless assumptions. California and the other States petitioning for this relief do not have judgments against Corteva. They do not even have trials scheduled against Corteva related to PFAS liability.
Moreover, in its seven-year history, Corteva has never made, sold or traded PFOA or PFOS products. Corteva's balance sheet will be well-equipped to cover any liability it might face.
"As we've stated from the beginning, our planned separation is an acknowledgement that our two businesses have different business models and will better deliver for farmers separately than they do together – meaning that the separation should result in stronger companies built for growth," said Corteva Chief Legal Officer Jennifer Johnson. "Corteva neither has nor has demonstrated any intent to hinder, delay, or defraud our creditors."
"Companies need flexibility to engage in transactions like this to continue to innovate and generate value for their customers and shareholders," said Johnson. "States are seeking extraordinary and, we believe, unprecedented relief, and in doing so, they are asking the court to supplant the judgment of our Board of Directors as well as our senior management team. We firmly believe the separation is in the best interest of our stakeholders and empowers each company to pursue its ideal strategy to enhance shareholder value. We will vigorously defend our ability to make decisions about our own company, including its separation, in every way possible."
About Corteva
Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed and crop protection products. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the Company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements. Words such as "believe," "will," "plan," "may," "expect," "see," and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, Corteva's intent to separate and its related expectations for Corteva and Vylor. These forward-looking statements reflect management's current expectations and are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond Corteva's and Vylor's control.
Important factors that may affect Corteva's or Vylor's respective businesses and operations and that may cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, whether the objectives of the separation will be achieved; the terms, structure, benefits and costs of any action or transaction resulting from the separation; the timing of any such separation or related action and whether any such separation will be consummated at all; the risk that the announcement of the intended separation could have an adverse effect on the ability of Corteva or Vylor to retain and hire key personnel and maintain relationships with customers, suppliers, employees, shareholders and other business relationships and on its operating results and business generally; the risk the separation could divert the attention and time of each company's management; the risk of any unexpected costs or expenses resulting from the separation process or separation itself; and the risk of any litigation relating to the separation, as well as the risks and uncertainties described in Corteva's and Vylor's risk factors, as they may be amended from time to time, set forth in their respective filings with the U.S. Securities and Exchange Commission. Corteva and Vylor disclaim and do not undertake any obligation to update, revise, or withdraw any forward-looking statement in this press release, except as required by applicable law or regulation.
, /PRNewswire/ -- Corteva (NYSE: CTVA) today announced that its Board of Directors has approved the previously announced separation of Corteva into two independent, publicly traded companies through the separation of Corteva's seed operating segment into an independent, publicly traded company, Vylor Inc. ("Vylor"). To effect the separation, the Corteva Board of Directors declared a pro rata dividend of all of the issued and outstanding shares of common stock of Vylor to Corteva's stockholders of record as of the close of business on September 24, 2026, the record date. The dividend is expected to occur prior to 9:30 a.m., New York City time, on October 1, 2026, the distribution date. Effective upon the distribution, each Corteva stockholder of record as of the close of business on the record date will receive one share of Vylor common stock for every share of Corteva common stock held of record by such stockholder as of such time. Corteva stockholders of record as of the close of business on the record date will receive cash in lieu of any fractional shares of Vylor common stock that they would have otherwise been entitled to receive in the distribution. The distribution is intended to be tax-free to Corteva stockholders for U.S. federal income tax purposes, except for any cash received in lieu of fractional shares.
It is expected that trading in Vylor common stock on a "when-issued" basis will begin on the New York Stock Exchange (the "NYSE") under the symbol "VYLR WI" on September 25, 2026, and will continue through the close of business on September 30, 2026. Vylor common stock is expected to begin "regular way" trading on the NYSE, under the symbol "VYLR" at the open of trading on October 1, 2026.
Beginning on September 25, 2026, and continuing through September 30, 2026, it is expected that there will be two markets in Corteva common stock on theNYSE: a "regular-way" market under the symbol "CTVA" in which shares of Corteva common stock will trade with an entitlement to receive the shares of Vylor common stock distributed pursuant to the distribution, and an "ex-distribution" market under the symbol "CTVA WI" in which shares of Corteva common stock will trade without an entitlement to receive the Vylor common stock distributed pursuant to the distribution.
Holders of record of Corteva common stock as of the close of business on the record date do not need to take any action to receive the shares of Vylor common stock to which they are entitled to receive in the distribution. Corteva stockholders are encouraged to consult with their financial and tax advisors regarding the specific implications of the distribution, including the specific implications of buying or selling Corteva common stock on or before the distribution date and the U.S. federal, state and local or foreign tax consequences, as applicable, of the distribution.
The distribution is subject to the satisfaction or waiver of certain customary conditions, which Corteva expects will be satisfied prior to the completion of the distribution.
As previously announced, on Tuesday, September 15, 2026, Corteva will host a live video webcast of its Investor Day, which will be divided into two parts: at 9:00 AM EDT, Corteva will introduce Vylor, its advanced seed and genetics business as a future standalone, public company. At 1:00 PM EDT, Corteva will introduce its future vision after the intended separation of Vylor. Each Investor Day will include management presentations discussing Corteva's vision, strategy, business model and financial framework, followed by a Q&A session. To access the webcasts, registration will be made available on the Investor Events and Presentations page of the Corteva website. Materials related to these presentations will be posted at this same website location and replays of the webcasts will be made available on each company's website following the events until September 15, 2027.
About Corteva
Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.
About Vylor
Vylor is an advanced seed and genetics company that has, for more than a century, been focused on delivering groundbreaking innovation to farmers. Anchored in the agriculture industry's most elite germplasm and transformative biotech, Vylor leverages its scientific expertise to deliver next generation technology to help farmers around the world boost yields. With its expertise in advanced science, leading routes-to-market and an expanding licensing business, Vylor drives value and delivers growth for farmers, customers and shareholders – and in doing so, helps feed, fuel and clothe the world. More information can be found at vylor.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements. Words such as "believe," "will," "plan," "may," "expect," "see," and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, Corteva's intent to separate and its related expectations for Corteva and Vylor. These forward-looking statements reflect management's current expectations and are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond Corteva's and Vylor's control.
Important factors that may affect Corteva's or Vylor's respective businesses and operations and that may cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, whether the objectives of the separation will be achieved; the terms, structure, benefits and costs of any action or transaction resulting from the separation; the timing of any such separation or related action and whether any such separation will be consummated at all; the risk that the announcement of the intended separation could have an adverse effect on the ability of Corteva or Vylor to retain and hire key personnel and maintain relationships with customers, suppliers, employees, shareholders and other business relationships and on its operating results and business generally; the risk the separation could divert the attention and time of each company's management; the risk of any unexpected costs or expenses resulting from the separation process or separation itself; and the risk of any litigation relating to the separation, as well as the risks and uncertainties described in Corteva's and Vylor's risk factors, as they may be amended from time to time, set forth in their respective filings with the U.S. Securities and Exchange Commission. Corteva and Vylor disclaim and do not undertake any obligation to update, revise, or withdraw any forward-looking statement in this press release, except as required by applicable law or regulation.
Chemours (CC.N), DuPont (DD.N) and Corteva (CTVA.N) on Thursday reached a $455 million settlement with North Carolina and 11 local entities over PFAS contamination claims tied to Chemours' Fayetteville Works plant and other historical discharges.
Lawsuits accusing major chemical companies of polluting U.S. drinking water with toxic PFAS chemicals — a group of pollutants referred to as "forever chemicals" — have led to settlements worth billions of dollars, including one struck by the three companies in New Jersey last year.
Payments will be made over 15 years, beginning within 30 days of the agreement's execution, and Chemours expects to pay about $50 million over the next 12 months, Chemours said on Thursday.
In line with a 2021 agreement among the companies, Chemours will bear 50% of the settlement cost, while DuPont and Corteva will split the remainder.
The North Carolina agreement resolves lawsuits brought by the state and local governments excluded from the U.S. public water system class settlement approved in 2024.
It also covers North Carolina's claims over PFAS contamination unrelated to Fayetteville Works, including pollution linked to aqueous film-forming foam.
Chemours said the settlement recognizes progress under its 2019 consent order with North Carolina, including investments to cut PFAS emissions and address off-site impacts.
JV to amplify both companies' complementary expertise to develop, scale, deliver differentiated crop protection solutions in high-growth markets
, /PRNewswire/ -- Corteva (NYSE: CTVA), a global leader in seed and crop protection technology, and Globachem N.V., a private company based in Belgium specializing in developing and globally marketing a wide range of crop protection products, today announced that they have entered into a definitive agreement to launch a 50/50 joint venture (JV) to support the development and delivery of new, differentiated crop protection solutions to meet evolving needs of farmers in Europe and the Americas.
The new JV will be independently operated and focus on leveraging late-pipeline to commercial-stage technology from its parent companies to amplify both companies' ability to develop, register, and market the resulting products, which may be commercialized independently by one or both parent companies.
"This is the latest example of how we're leveraging collaborations to strengthen and broaden our portfolio as we prepare to launch as a standalone crop protection company following our planned separation," said Corteva Senior Vice President Brook Cunningham. "By combining our industry-leading pipeline and innovation capabilities with Globachem's expertise in formulation, we aim to scale and accelerate the delivery of more tailored, comprehensive solutions for core crops in targeted markets."
The JV will build upon an existing, multi-year partnership between Corteva and Globachem, allowing both companies to immediately benefit through enhanced collaboration. New solutions developed by the JV are expected to launch in the early 2030s and will be sold through established commercial channels.
"The entry into a definitive agreement regarding the establishment of the JV represents an important milestone in our long-standing relationship with Corteva and reflects our shared belief that collaboration is the fastest way to bring meaningful innovation to farmers," said Koen Quaghebeur, Chief Visionary Officer and Co-founder of Globachem. "Together, Corteva's world-class discovery and development capabilities and Globachem's expertise in product development, formulation and regulatory execution, create a powerful platform for innovation. The JV will accelerate the delivery of differentiated crop protection solutions that help growers address evolving agronomic challenges and seize new opportunities. We are excited to build a company that brings together the strengths of both organizations, creating sustainable value for growers, our partners, and both parent companies."
The transaction is currently expected to close in the fourth quarter of 2026, subject to all necessary regulatory clearances and approvals.
About Corteva
Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture company that combines industry-leading innovation, hightouch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the Company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.
About Globachem
Globachem N.V. is a family-owned crop protection company headquartered in Belgium, committed to helping growers and distribution partners tackle some of agriculture's most critical challenges. Built on scientific expertise with a strong customer focus, the company delivers practical, user-friendly solutions through a unique portfolio of established products and innovations. Active in more than 60 countries, Globachem is a trusted long-term partner, driven by service, collaboration and a continuous search for breakthrough solutions that make a meaningful difference in key crops worldwide. Learn more at www.globachem.com.
Cautionary statement
This release contains certain estimates and forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which are intended to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and may be identified by their use of words like "may," "expects," "will," "aims," "believes," "intends," or other words of similar meaning. All statements that address expectations or projections about the future, including statements about the parties' expectations related to regulatory matters, product development and commercialization, product offerings and product, financial or sustainability performance are forward-looking statements. No obligation to update or revise any forward-looking statement, except as required by applicable law, is hereby undertaken and any such obligation is specifically disclaimed. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements or other estimates is included in the "Risk Factors" section of Corteva's Annual Report on Form 10-K, and as modified by subsequent reports on Form 10-Q and Current Reports on Form 8-K.
Platform to accelerate investment in next generation ag-tech innovation
, /PRNewswire/ -- Vylor, the advanced seed and genetics company that will spin-off from Corteva on October 1, 2026, today announced the launch of Vylor Edge, a new investment platform dedicated to accelerating the development of advanced technologies in global agriculture. Vylor Edge will collaborate with start-ups, entrepreneurs, universities and the wider innovation ecosystem through equity investments and strategic partnerships.
"Vylor Edge will partner with the global scientific community to deliver breakthrough innovations that advance global agriculture and mitigate key production challenges," said Sam Eathington, chief technology officer of the future Vylor. "Pairing Vylor's world class expertise with other technology leaders from around the world will help drive innovation and equip farmers with the tools they need to be successful."
Vylor Edge will initially focus on identifying opportunities across strategic verticals aligned with Vylor's priorities, including gene editing and advanced breeding; protein engineering; as well as artificial intelligence and digital technology platforms. It will also explore opportunities in other areas and sectors to harness technologies applicable to Vylor's business and mission to help farmers feed and fuel the world.
"We are excited to collaborate with entrepreneurs who can benefit from the deep expertise of our dedicated team, as well as Vylor's leading R&D capabilities, global footprint, and go-to-market infrastructure," said Mat Muller, head of Vylor Edge. "We look forward to supporting the development and commercialization of promising technologies and delivering new innovations to growers."
The Vylor Edge portfolio will be launched with a strong foundation of investments and collaborations that were previously part of Corteva Catalyst™ and are now transitioning to Vylor as part of the company's spin-off from Corteva. Through Vylor Edge, Vylor will continue to support and expand these partnerships while identifying new opportunities to accelerate innovation across global agriculture.
About Corteva
Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed and crop protection products. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.
Cautionary statement
This release contains certain estimates and forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which are intended to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and may be identified by their use of words like "may," "expects," "will," "aims," "believes," "intends," or other words of similar meaning. All statements that address expectations or projections about the future, including statements about the parties' expectations related to regulatory matters, product development and commercialization, product offerings and product, financial or sustainability performance are forward-looking statements. No obligation to update or revise any forward-looking statement, except as required by applicable law, is hereby undertaken and any such obligation is specifically disclaimed. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements or other estimates is included in the "Risk Factors" section of Corteva's Annual Report on Form 10-K, and as modified by subsequent reports on Form 10-Q and Current Reports on Form 8-K and Vylor's Registration Statement on Form 10.
Company to Lock in Market Leadership, Deliver $2 Billion in Incremental Revenue by 2035
, /PRNewswire/ -- Ahead of its planned separation on October 1, 2026, Corteva, Inc. (NYSE: CTVA) today unveiled the corn pipeline for its advanced seed and advanced genetics spin-off, Vylor. The multi-year innovation roadmap will strengthen Vylor's corn market leadership across core geographies, expand farmer choice and flexibility, and deliver long-term, royalty-advantaged growth1.
"Corn is already one of the most planted crops in the world and its importance will only continue to grow. Our pipeline changes the game through 2035 with the industry's first-ever trait designed to improve yield and yield stability. In field trials across the Americas, corn with this trait took outstanding performance to a new level by delivering an incremental three bushels per acre on average, with gains of up to 10 bushels per acre1," said Sam Eathington, chief technology officer of the future Vylor.
Eathington continued, "Vylor's impressive corn portfolio will be the direct result of the billions of dollars we have invested over the past decade to help farmers keep pace with growing, changing markets. We are building long-term, royalty-advantaged technology platforms that give Vylor more freedom to innovate, grows our licensing business and positions the company for sustained leadership."
Vylor's corn portfolio is expected to deliver more than $2 billion in incremental revenue by 2035, including licensing2. All told, Vylor is on track to launch seven new corn technology platforms through 2035, which together will be sold across 90% of Vylor's corn business.
In 2028, Vylor expects the corn innovation roadmap to launch in Latin America with Abranvo™ technology, a platform that provides effective fall army worm control with two new modes of action coupled with yield and yield stability and multiple modes of herbicide tolerance. This will be followed by the launch of Vylor's next generation insect control with two additional, proprietary new modes of action, extending fall army worm control.
In 2029 the roadmap will move to North America, where Vylor plans to deliver its next generation above-ground insect control technology coupled with its proprietary yield and yield stability trait.
Vylor product launches will continue through the end of this decade, across multiple regions, with the transformative, gene edited, multi-disease resistant (MDR) corn technology – another industry first. Vylor's MDR combats four separate corn diseases: Northern Corn Leaf Blight, Grey Leafspot, Southern Rust and Anthracnose Stalk Rot. Vylor will also launch reduced stature corn, built on its next generation technology platforms and deployed in segments where it can deliver the greatest value to farmers.
In 2031, also in North America, Vylor expects to redefine below-ground insect control for corn by launching a new product that offers two new, non-Bt3 modes of action for corn rootworm – including one that is plant-based, an industry first.
Taken together, Vylor will be able to offer farmers the industry's most comprehensive corn portfolio of proprietary, innovative and effective products via multiple routes to market, including licensing.
Overall, Vylor's corn strategy is anchored by three elements:
A focus on farmers and ability to invest in technology that consistently delivers value for them; The ability to leverage elite germplasm to expand brand strength and enable out-licensing; and Proprietary biotech and gene-editing technology platforms that support the company's move from licensee to licensor. Vylor's market leadership in corn is built on more than 100 years of advanced genetics and breeding expertise and the industry's leading germplasm. The roadmap unveiled today puts Vylor in a position of continued leadership globally in corn.
About Corteva
Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.™ ® ℠ Trademarks and service marks of Corteva Agriscience and its affiliated companies.
Cautionary and Forward-Looking Statements
Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: Corteva and its respective representatives may from time to time make written or oral statements that are "forward-looking" and provide other than historical information, including statements contained in this press release, in the company's other filings with the Securities and Exchange Commission ("SEC"), and in presentations, reports or letters to its stockholders.
In some cases, the company identified these forward-looking statements by such words or phrases as "plans," "outlook," "will," "is designed to," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "predicts," "forecasts," "estimates," "projects," "potential," "intends," or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words or phrases. Such forward-looking statements are based on the company's current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. The forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These statements are qualified by reference to the risk factors included in Part I, Item 1A of Corteva's Annual Report on Form 10-K for the year ended December 31, 2025 (the "2025 Form 10-K"), the section captioned "Forward-Looking Information" in Part II of the 2025 Form 10-K, the "Risk Factors" and "Cautionary Statement Concerning Forward-Looking Statements" sections of the preliminary information statement filed as Exhibit 99.1 to Vylor Inc.'s ("Vylor") Registration Statement on Form 10, as amended, and to similar risk factors and cautionary statements in all other reports and forms filed with the SEC.
We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. We specifically decline to undertake any obligation, and specifically disclaim any duty, to publicly update or revise any forward-looking statements that have been made to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as may be required by law.
Examples of forward-looking statements include, but are not limited to, Corteva's intent to separate and its related expectations for Corteva and Vylor, including the anticipated timing, attributes, performance and financial and other benefits of these and any other products in Vylor's pipeline. These forward-looking statements reflect management's current expectations and are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond Corteva's control.
1 All descriptions and/or statements related to product or technology launch are subject to completion of field testing and applicable regulatory reviews
2 Excludes other advanced technology platforms, such as gene edited, multi-disease resistant (MDR) corn
3 Bacillus thuringiensis, a naturally occurring bacterium
Investors interested in Agriculture - Operations stocks are likely familiar with Dole (DOLE) and Corteva, Inc. (CTVA). But which of these two stocks offers value investors a better bang for their buck right now?
EP Wealth Advisors LLC purchased a new position in Corteva, Inc. (NYSE:CTVA – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 27,374 shares of the company’s stock, valued at approximately $2,318,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. lifted its holdings in shares of Corteva by 2.9% during the 1st quarter. William B. Walkup & Associates Inc. now owns 4,457 shares of the company’s stock worth $373,000 after acquiring an additional 126 shares during the period. Wilkerson Advisory Group LLC grew its holdings in Corteva by 6.7% in the first quarter. Wilkerson Advisory Group LLC now owns 2,112 shares of the company’s stock valued at $177,000 after purchasing an additional 133 shares during the period. AdvisorNet Financial Inc grew its holdings in Corteva by 2.4% in the first quarter. AdvisorNet Financial Inc now owns 5,694 shares of the company’s stock valued at $477,000 after purchasing an additional 135 shares during the period. First Horizon Corp increased its position in Corteva by 9.2% during the first quarter. First Horizon Corp now owns 1,600 shares of the company’s stock worth $134,000 after purchasing an additional 135 shares during the last quarter. Finally, Aviance Capital Partners LLC increased its position in Corteva by 1.3% during the first quarter. Aviance Capital Partners LLC now owns 11,008 shares of the company’s stock worth $922,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.
Corteva Price Performance Shares of NYSE CTVA opened at $81.84 on Friday. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $90.97. The business has a 50-day moving average of $82.13 and a 200-day moving average of $80.21. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.52 and a quick ratio of 1.10. The company has a market capitalization of $54.60 billion, a price-to-earnings ratio of 54.20, a PEG ratio of 2.51 and a beta of 0.57.
Corteva (NYSE:CTVA – Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.06. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.60 billion. Corteva had a return on equity of 10.18% and a net margin of 5.66%.The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. On average, equities analysts anticipate that Corteva, Inc. will post 3.72 EPS for the current fiscal year. Corteva Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.72 annualized dividend and a yield of 0.9%. Corteva’s dividend payout ratio (DPR) is 47.68%.
Analyst Upgrades and Downgrades A number of equities analysts have weighed in on CTVA shares. CICC Research lifted their price target on shares of Corteva from $80.00 to $93.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Royal Bank Of Canada upped their price objective on Corteva from $97.00 to $103.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. BMO Capital Markets increased their target price on Corteva from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Barclays lifted their target price on Corteva from $84.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Finally, Weiss Ratings downgraded Corteva from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $91.50.
Get Our Latest Research Report on CTVA
Corteva Profile (Free Report)
Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.
Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.
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Bank of New York Mellon Corp bought a new position in Corteva, Inc. (NYSE:CTVA – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,633,924 shares of the company’s stock, valued at approximately $392,447,000. Bank of New York Mellon Corp owned 0.69% of Corteva at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTVA. JPL Wealth Management LLC bought a new stake in shares of Corteva in the 3rd quarter worth $25,000. Garton & Associates Financial Advisors LLC bought a new position in Corteva during the fourth quarter valued at about $27,000. Bank of Jackson Hole Trust bought a new position in Corteva during the fourth quarter valued at about $28,000. Cornerstone Financial Management LLC acquired a new position in Corteva during the fourth quarter worth about $29,000. Finally, Elevation Wealth Partners LLC grew its holdings in Corteva by 334.6% during the second quarter. Elevation Wealth Partners LLC now owns 339 shares of the company’s stock worth $29,000 after acquiring an additional 261 shares during the period. 81.54% of the stock is owned by institutional investors.
Corteva Stock Performance Shares of NYSE CTVA opened at $81.84 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.52 and a quick ratio of 1.10. Corteva, Inc. has a one year low of $60.53 and a one year high of $90.97. The business’s 50-day moving average price is $82.13 and its two-hundred day moving average price is $80.21. The company has a market capitalization of $54.60 billion, a P/E ratio of 54.20, a price-to-earnings-growth ratio of 2.44 and a beta of 0.57.
Corteva (NYSE:CTVA – Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.24 by $0.06. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.60 billion. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. Analysts anticipate that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year. Corteva Dividend Announcement The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.72 annualized dividend and a yield of 0.9%. Corteva’s dividend payout ratio is presently 47.68%.
Analysts Set New Price Targets A number of equities research analysts have weighed in on the stock. Weiss Ratings downgraded shares of Corteva from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 3rd. CICC Research lifted their price objective on shares of Corteva from $80.00 to $93.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $101.00 target price on shares of Corteva in a report on Monday, August 3rd. JPMorgan Chase & Co. increased their target price on shares of Corteva from $77.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Finally, Mizuho raised their target price on shares of Corteva from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Tuesday, July 14th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.50.
Get Our Latest Report on Corteva
Corteva Company Profile (Free Report)
Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.
Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.
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Allworth Financial LP purchased a new stake in Corteva, Inc. (NYSE:CTVA – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,397 shares of the company’s stock, valued at approximately $1,727,000.
A number of other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after buying an additional 11,760 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Corteva by 40.3% during the 1st quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock worth $3,645,000 after acquiring an additional 16,644 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Corteva by 62.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,559 shares of the company’s stock worth $191,000 after acquiring an additional 980 shares in the last quarter. Cresset Asset Management LLC increased its position in shares of Corteva by 2.6% in the second quarter. Cresset Asset Management LLC now owns 7,063 shares of the company’s stock valued at $526,000 after buying an additional 181 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Corteva during the 2nd quarter worth approximately $1,464,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.
Wall Street Analyst Weigh In CTVA has been the topic of several research analyst reports. CICC Research lifted their target price on shares of Corteva from $80.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Weiss Ratings cut shares of Corteva from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. Citigroup upped their price objective on shares of Corteva from $85.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Jefferies Financial Group boosted their target price on Corteva from $95.00 to $97.00 in a report on Thursday, May 7th. Finally, UBS Group cut their price target on Corteva from $89.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $91.50.
Read Our Latest Stock Report on CTVA Corteva Stock Up 3.0% CTVA stock opened at $81.84 on Friday. Corteva, Inc. has a one year low of $60.53 and a one year high of $90.97. The firm has a market cap of $54.60 billion, a PE ratio of 54.20, a PEG ratio of 2.44 and a beta of 0.57. The firm’s 50 day moving average price is $82.13 and its 200-day moving average price is $80.21. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.52.
Corteva (NYSE:CTVA – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.06. Corteva had a return on equity of 10.18% and a net margin of 5.66%.The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.60 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. On average, equities research analysts anticipate that Corteva, Inc. will post 3.72 EPS for the current year.
Corteva Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 1st. Corteva’s dividend payout ratio (DPR) is 47.68%.
About Corteva (Free Report)
Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.
Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.
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Advisors Capital Management LLC bought a new position in shares of Corteva, Inc. (NYSE:CTVA – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 9,002 shares of the company’s stock, valued at approximately $762,000.
Other hedge funds have also modified their holdings of the company. Arbejdsmarkedets Tillaegspension purchased a new position in Corteva during the fourth quarter worth about $23,679,000. Leonteq Securities AG acquired a new position in shares of Corteva in the fourth quarter worth $2,350,000. Brandes Investment Partners LP increased its position in shares of Corteva by 1.1% during the fourth quarter. Brandes Investment Partners LP now owns 2,312,515 shares of the company’s stock worth $155,009,000 after acquiring an additional 24,985 shares during the period. Twin Capital Management Inc. raised its stake in shares of Corteva by 178.9% in the fourth quarter. Twin Capital Management Inc. now owns 25,394 shares of the company’s stock valued at $1,702,000 after acquiring an additional 16,288 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Corteva in the first quarter valued at $1,222,000. 81.54% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes A number of brokerages have commented on CTVA. Citigroup increased their price objective on shares of Corteva from $85.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Weiss Ratings lowered Corteva from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 3rd. Barclays lifted their price objective on Corteva from $84.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. BNP Paribas Exane raised their price objective on Corteva from $74.00 to $77.00 in a research note on Wednesday, May 6th. Finally, Oppenheimer increased their price objective on Corteva from $89.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average target price of $91.50.
Get Our Latest Stock Report on CTVA Corteva Price Performance NYSE CTVA opened at $81.84 on Friday. Corteva, Inc. has a 1 year low of $60.53 and a 1 year high of $90.97. The stock has a market capitalization of $54.60 billion, a P/E ratio of 54.20, a P/E/G ratio of 2.44 and a beta of 0.57. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.52. The business’s fifty day moving average is $82.13 and its two-hundred day moving average is $80.21.
Corteva (NYSE:CTVA – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.06. Corteva had a return on equity of 10.18% and a net margin of 5.66%.The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.60 billion. During the same quarter in the previous year, the company earned $2.20 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. On average, research analysts forecast that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.
Corteva Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Corteva’s dividend payout ratio (DPR) is presently 47.68%.
Corteva Company Profile (Free Report)
Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.
Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.
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, /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) announced today that Vylor Inc., a Delaware corporation and its wholly owned subsidiary ("Vylor"), has received the early tender results of its previously announced (i) private offers to exchange (with respect to each series, an "Exchange Offer" and together, the "Exchange Offers") any and all of the outstanding senior notes of the series listed in the table below issued by EIDP, Inc., a Delaware corporation and a wholly owned subsidiary of Corteva ("EIDP" and such notes, collectively, the "EIDP Notes"), to the extent held by eligible holders, for a corresponding series of notes to be newly issued by Vylor (collectively, the "Vylor Notes") and (ii) related consent solicitations (with respect to the EIDP Base Indenture (as defined below) and the applicable EIDP Supplemental Indenture (as defined below) governing a series of EIDP Notes, a "Consent Solicitation" and together, the "Consent Solicitations") from eligible holders of EIDP Notes. The Consent Solicitations seek approval to adopt (a) certain proposed amendments to the base indenture governing the EIDP Notes (the "EIDP Base Indenture"), which would eliminate substantially all of the restrictive covenants and events of default (other than payment-related and bankruptcy-related events of default) from the EIDP Base Indenture (such proposed amendments, the "Proposed EIDP Base Indenture Amendments"), and (b) certain proposed amendments to the supplemental indentures to the EIDP Base Indenture (each, an "EIDP Supplemental Indenture"), which would eliminate the offer to repurchase upon change of control provisions from the applicable EIDP Supplemental Indenture (such proposed amendments, the "Proposed EIDP Supplemental Indenture Amendments" and, together with the Proposed EIDP Base Indenture Amendments, the "Proposed Amendments"). Approval of the Proposed EIDP Base Indenture Amendments requires consents from the holders of at least a majority of the aggregate principal amount of all the EIDP Notes, voting as a single class (the "Requisite Consents"). Approval of the Proposed EIDP Supplemental Indenture Amendments requires consents from the holders of at least a majority of the aggregate principal amount of the applicable series of EIDP Notes (the "Majority Consents").
The table below sets forth, for each series of EIDP Notes, the principal amount validly tendered and not validly withdrawn (and the consents thereby validly delivered and not validly revoked) as of 5:00 p.m., New York City time, on August 19, 2026 (the "Early Tender Deadline"). As of the Early Tender Deadline, Vylor has received, on behalf of EIDP, (i) the Requisite Consents to adopt the Proposed EIDP Base Indenture Amendments with respect to all EIDP Notes and (ii) the Majority Consents to adopt the Proposed EIDP Supplemental Indenture Amendments with respect to each series of EIDP Notes. Accordingly, the condition to each Exchange Offer and Consent Solicitation that the Requisite Consents be received on or prior to the Early Tender Deadline has been satisfied. The Exchange Offers are not conditioned upon the receipt of the Majority Consents with respect to any EIDP Supplemental Indenture. EIDP Notes validly tendered and not validly withdrawn by the Early Tender Deadline may no longer be withdrawn, and related consents validly delivered and not validly revoked may no longer be revoked.
EIDP Notes Validly
Tendered and Not
Validly Withdrawn by the
Early Tender
Deadline
Title of
Series of
EIDP
Notes
CUSIP No.
and ISIN of
EIDP Notes
Aggregate
Principal
Amount of
EIDP Notes
Outstanding
Vylor Notes
to be
Issued in
Exchange
for EIDP
Notes
Principal
Amount
Percentage
2.300% Senior Notes due 2030
263534CP2 US263534CP24
$
500,000,000
2.300% Senior Notes due 2030
$431,634,000
86.33 %
5.125% Senior Notes due 2032
263534CS6 US263534CS62
$
500,000,000
5.125% Senior Notes due 2032
$468,434,000
93.69 %
4.800% Senior Notes due 2033
263534CR8 US263534CR89
$
600,000,000
4.800% Senior Notes due 2033
$524,868,000
87.48 %
EIDP and the trustee under the EIDP Base Indenture intend to execute and deliver a supplemental indenture to amend the EIDP Base Indenture, giving effect to the Proposed EIDP Base Indenture Amendments, and to amend the EIDP Supplemental Indentures governing each series of EIDP Notes, giving effect to the applicable Proposed EIDP Supplemental Indenture Amendments. The applicable Proposed Amendments will become operative only upon the settlement of the Exchange Offers and Consent Solicitations on the Settlement Date (as defined below).
The Exchange Offers and Consent Solicitations are being made upon the terms and conditions set forth in an exchange offer memorandum and consent solicitation statement, dated August 6, 2026 (as amended or supplemented, the "Offering Memorandum"), copies of which have been made available to holders of the EIDP Notes eligible to participate in the Exchange Offers and Consent Solicitations.
Corteva further announced today that it has extended the expiration date of each Exchange Offer and Consent Solicitation. Corteva hereby extends such expiration date from 5:00 p.m., New York City time, on September 3, 2026, to, unless extended or earlier terminated, 5:00 p.m., New York City time, on September 29, 2026 (such date and time, as they may be further extended, the "Expiration Date"). Vylor reserves the right to terminate, withdraw, amend or extend an Exchange Offer and Consent Solicitation in its sole discretion, subject to the terms and conditions set forth in the Offering Memorandum. Except as described in this press release, all other terms of the Exchange Offers and Consent Solicitations remain unchanged.
Subject to the terms and conditions set forth in the Offering Memorandum, each eligible holder of EIDP Notes will receive, for each $1,000 principal amount of the applicable series of EIDP Notes validly tendered and not validly withdrawn by the Early Tender Deadline and accepted for exchange in the applicable Exchange Offer, (i) an equal principal amount of Vylor Notes of the corresponding series and (ii) a cash payment (with respect to each series, the "Cash Consideration" and, together with such amount of Vylor Notes, the "Total Exchange Consideration"). The Cash Consideration is approximately $2.90 per $1,000 principal amount for the 2.300% Senior Notes due 2030, approximately $2.67 per $1,000 principal amount for the 5.125% Senior Notes due 2032 and approximately $2.86 per $1,000 principal amount for the 4.800% Senior Notes due 2033. The Vylor Notes will have the same interest payment dates, maturity date and interest rate as the EIDP Notes of the corresponding series.
Eligible holders who validly tender their EIDP Notes after the Early Tender Deadline but on or prior to the Expiration Date will be eligible to receive $970 principal amount of the applicable series of Vylor Notes per $1,000 principal amount of the corresponding series of EIDP Notes validly tendered (the "Exchange Consideration") but no Cash Consideration.
In addition, all eligible holders whose EIDP Notes are validly tendered and accepted for exchange in the Exchange Offers and Consent Solicitations will receive a cash payment equal to the accrued and unpaid interest on their EIDP Notes accepted for exchange from the last interest payment date of the applicable EIDP Notes preceding the Settlement Date up to, but excluding, the Settlement Date.
Vylor's obligation to accept and exchange any EIDP Notes validly tendered pursuant to the applicable Exchange Offer is subject to, and conditioned upon, the satisfaction or (to the extent permitted) waiver of certain conditions as set forth in the Offering Memorandum, including the condition that Corteva's planned separation into two independent, publicly traded companies, one comprising its current crop protection business and the other comprising its current seed business to be owned and conducted, directly or indirectly, by Vylor (the "Separation"), be consummated. The Separation is currently expected to be consummated on or about October 1, 2026, subject to satisfaction or waiver of the conditions thereto. Other than the Separation (without the consummation of which the Exchange Offers and Consent Solicitations will not be consummated, neither the applicable Exchange Consideration nor the applicable Total Exchange Consideration will be delivered, and the Proposed Amendments contemplated by the Consent Solicitations will not become operative), Vylor may generally waive any condition with respect to the Exchange Offers and Consent Solicitations, in its sole discretion, at any time prior to the Expiration Date.
Assuming the remaining conditions to the Exchange Offers and Consent Solicitations are satisfied or (to the extent permitted) waived, settlement of the Exchange Offers is expected to occur on or about the second business day following the Expiration Date and substantially simultaneously with the consummation of the Separation, unless Vylor extends or terminates the Exchange Offers (such date and time, as the same may be extended, the "Settlement Date"). Accordingly, Vylor may, in its discretion, extend each of the Expiration Date and the Settlement Date as necessary to maintain such sequencing. Interest on the applicable series of Vylor Notes issued in the related Exchange Offer will accrue from (and including) the Issue Date (the date on which such Vylor Notes are issued in exchange for the corresponding series of EIDP Notes).
The Exchange Offers and Consent Solicitations are being made only to holders of EIDP Notes who satisfy the eligibility conditions described under "Disclaimer" below. Holders of EIDP Notes who desire a copy of the eligibility letter should contact D.F. King & Co., Inc., the information agent and exchange agent for the Exchange Offers and Consent Solicitations, by phone at (800) 283-9185 or by email at [email protected]. Banks and brokers should call (646) 461-2610. The eligibility letter may also be found here: www.dfking.com/vylor. D.F. King & Co., Inc. will also provide copies of the Offering Memorandum to eligible holders of EIDP Notes.
Holders of EIDP Notes are advised to check with any bank, securities broker or other intermediary through which they hold EIDP Notes as to when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in, or (in the circumstances in which revocation is permitted) revoke their instruction to participate in, the Exchange Offers and Consent Solicitations before the deadlines specified herein and in the Offering Memorandum. The deadlines set by each clearing system for the submission and withdrawal of exchange instructions will also be earlier than the relevant deadlines specified herein and in the Offering Memorandum.
Disclaimer
This press release is issued pursuant to Rule 135c under the Securities Act of 1933, as amended (the "Securities Act"). This press release is neither an offer to sell nor the solicitation of an offer to buy the Vylor Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful. The Exchange Offers and Consent Solicitations have not been and will not be registered under the Securities Act, or the securities laws of any other jurisdiction, and, accordingly, the Vylor Notes will be subject to transfer restrictions unless and until the Vylor Notes are registered or exchanged for registered notes. The Vylor Notes will be issued in reliance upon exemptions from, or in transactions not subject to, registration under the Securities Act. The Exchange Offers and Consent Solicitations are being made only to, and the Vylor Notes will be offered for exchange only to, holders of EIDP Notes who are (i) reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act, and (ii) outside the United States, persons who are not, and who are not acting for the account or benefit of, "U.S. persons" (as defined in Rule 902 under the Securities Act) in compliance with Regulation S under the Securities Act. The Vylor Notes will not be offered or sold in the United States or to U.S. persons (as defined in Rule 902 under the Securities Act) unless the transaction is registered under the Securities Act, an exemption from the registration requirements of the Securities Act is available or the transaction is not subject to registration under the Securities Act.
The Exchange Offers and Consent Solicitations are being made only pursuant to the Offering Memorandum. The Offering Memorandum and other documents relating to the Exchange Offers and Consent Solicitations will be distributed only to holders of EIDP Notes who confirm that they are within the categories of eligible participants in the Exchange Offers and Consent Solicitations. None of Vylor, its directors or officers, the dealer managers and solicitation agents, the exchange agent, the information agent, the trustees for the Vylor Notes or the EIDP Notes, their respective affiliates, or any other person is making any recommendation as to whether holders should tender their EIDP Notes in the Exchange Offers or deliver related consents to the Proposed Amendments in the Consent Solicitations.
The complete terms and conditions of the Exchange Offers and Consent Solicitations are set forth in the Offering Memorandum. The Exchange Offers and Consent Solicitations are only being made pursuant to the Offering Memorandum. The Exchange Offers and Consent Solicitations are not being made to holders of EIDP Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY OTHER REGULATORY BODY HAS REGISTERED, RECOMMENDED OR APPROVED OF THE VYLOR NOTES OR PASSED UPON THE ACCURACY OR ADEQUACY OF THE OFFERING MEMORANDUM. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
About Corteva
Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.
Cautionary Statement on Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the U.S. federal securities laws about Corteva, Vylor, EIDP, the Exchange Offers and Consent Solicitations and the Separation, including but not limited to all statements about the timing and consummation of the Exchange Offers and Consent Solicitations and the Separation, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current assumptions regarding future business and financial performance and, by their nature, address matters that are uncertain to different degrees. You can identify forward-looking statements by the use of words such as "plans," "expects," "will," "anticipates," "believes," "intends," "projects," "estimates," "outlook" or other words of similar meaning. These forward-looking statements are subject to risks and uncertainties that could cause actual results to be materially different from those set forth in such forward-looking statements, including but not limited to, the risk: (i) that general economic and capital markets conditions may adversely affect the Exchange Offers and Consent Solicitations or the Separation; (ii) that the conditions to the Exchange Offers and Consent Solicitations or the Separation may not be satisfied or waived; (iii) that any event, change or other circumstance could give rise to the termination of the Exchange Offers and Consent Solicitations and/or the Separation; (iv) of the effects that any termination of the Separation may have on Corteva or its subsidiaries; (v) that legal proceedings may be instituted related to the Separation or otherwise; (vi) of unexpected costs, charges or expenses; and (vii) of other risks and uncertainties described in Corteva's and EIDP's filings with the U.S. Securities and Exchange Commission (the "SEC"), including under the heading "Risk Factors" (Item 1A) in Corteva's most recently filed Annual Report on Form 10-K and in Corteva's subsequent Quarterly Reports on Form 10-Q, and in other documents that Corteva or EIDP files or furnishes with the SEC. Neither Corteva nor EIDP undertakes any obligation to update or revise any forward-looking statement, except as required by applicable law.
Bell & Brown Wealth Advisors LLC bought a new position in Corteva, Inc. (NYSE:CTVA – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,533 shares of the company’s stock, valued at approximately $1,231,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Corteva during the 2nd quarter valued at about $4,560,180,000. Harris Associates L P lifted its holdings in Corteva by 168.1% in the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock valued at $1,141,268,000 after acquiring an additional 10,675,052 shares during the period. Norges Bank bought a new position in shares of Corteva in the 4th quarter worth approximately $504,001,000. Royal Bank of Canada grew its position in Corteva by 202.1% during the first quarter. Royal Bank of Canada now owns 7,458,624 shares of the company’s stock valued at $624,362,000 after buying an additional 4,989,371 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Corteva during the second quarter valued at approximately $392,447,000. 81.54% of the stock is currently owned by institutional investors.
Corteva Price Performance NYSE CTVA opened at $78.51 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.52 and a quick ratio of 1.10. Corteva, Inc. has a 1 year low of $60.53 and a 1 year high of $90.97. The company has a market cap of $52.38 billion, a price-to-earnings ratio of 51.99, a PEG ratio of 2.39 and a beta of 0.57. The stock’s fifty day moving average price is $81.92 and its 200 day moving average price is $80.15.
Corteva (NYSE:CTVA – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.06. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.60 billion. Corteva had a net margin of 5.66% and a return on equity of 10.18%. Corteva’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 EPS. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. As a group, equities research analysts forecast that Corteva, Inc. will post 3.72 earnings per share for the current year. Corteva Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 1st. Corteva’s dividend payout ratio is currently 47.68%.
Wall Street Analysts Forecast Growth A number of brokerages have commented on CTVA. UBS Group reduced their price target on Corteva from $89.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday. Morgan Stanley upped their price objective on Corteva from $84.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Oppenheimer increased their target price on shares of Corteva from $89.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. upped their price target on shares of Corteva from $77.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Finally, Weiss Ratings lowered Corteva from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and an average price target of $91.50.
Check Out Our Latest Stock Analysis on CTVA
Corteva Company Profile (Free Report)
Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.
Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.
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Investors looking for stocks in the Agriculture - Operations sector might want to consider either Dole (DOLE - Free Report) or Corteva, Inc. (CTVA - Free Report) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.
The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
Right now, Dole is sporting a Zacks Rank of #2 (Buy), while Corteva, Inc. has a Zacks Rank of #3 (Hold). This means that DOLE's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is only part of the picture for value investors.
Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.
DOLE currently has a forward P/E ratio of 9.24, while CTVA has a forward P/E of 20.28. We also note that DOLE has a PEG ratio of 1.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CTVA currently has a PEG ratio of 2.32.
Another notable valuation metric for DOLE is its P/B ratio of 0.83. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, CTVA has a P/B of 1.98.
These metrics, and several others, help DOLE earn a Value grade of A, while CTVA has been given a Value grade of D.
DOLE stands above CTVA thanks to its solid earnings outlook, and based on these valuation figures, we also feel that DOLE is the superior value option right now.
Key Takeaways Corteva's Seed sales rose 4%, supported by technology demand, pricing and improved royalty economics.Corteva raised 2026 EBITDA guidance to $4.1-$4.3 billion as productivity actions boost earnings.Corteva faces Crop Protection pricing pressure and execution risks ahead of its planned Oct. 1 separation. Corteva, Inc. (CTVA - Free Report) is showing improving earnings momentum as technology adoption, productivity actions and a stronger Seed business support growth. However, the stock’s valuation and ongoing Crop Protection pricing pressures keep the risk-reward balance more measured. The stock currently carries a Zacks Rank #3 (Hold), with a price target of $81.00 versus a share price of $76.22 as of Aug. 11, 2026.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Corteva delivered a solid first half of 2026, with net sales increasing 4% year over year to $11.28 billion and operating EBITDA rising 10% to $3.70 billion. Operating EPS increased 14% to $3.80. Management raised its full-year outlook and now expects operating EBITDA of $4.1-$4.3 billion and operating EPS of $3.60-$3.80 per share.
Growth Drivers Remain in PlaceThe Seed segment continues to be the primary growth contributor. First-half Seed net sales increased 4% to $7.56 billion, helped by higher price/mix, demand for differentiated germplasm and trait technologies and improved royalty economics. Segment operating EBITDA increased 11% to $3 billion, supported by pricing actions and lower royalty expense.
Corteva’s Crop Protection business is also benefiting from new product adoption. In the first half of 2026, Crop Protection sales increased 3%, with volume growth from new products helping offset a 3% pricing decline caused by competitive conditions, particularly in Latin America.
Productivity initiatives remain another earnings driver. Management cited more than $160 million in cost improvements from lower input costs, manufacturing efficiencies and productivity programs during the first half of 2026.
Separation Adds a Near-Term Execution RiskCorteva is preparing to separate its businesses into two standalone public companies, targeting completion on Oct. 1, 2026. Management has reported that run-rate dis-synergies are largely offset, but remaining steps include final capital structures, Form 10 effectiveness and IT separation activities.
The transition could require additional management focus as Corteva prepares both businesses to operate independently. The company included a $25 million headwind in 2026 guidance related to separation timing.
Valuation Leaves Less Room for ErrorCorteva’s valuation reflects some of the expected earnings improvement. The stock trades at 19.6X forward 12-month earnings, with a PEG ratio of 2.2X. Its Zacks Style Scores include a Value Score of D, Growth Score of F, Momentum Score of C and VGM Score of F.
Image Source: Zacks Investment Research
While earnings growth expectations have improved, valuation remains a concern if Crop Protection pricing pressure persists or separation-related costs weigh on results.
Corteva competes within the broader agricultural sector alongside companies such as Archer Daniels Midland Company (ADM - Free Report) and Adecoagro S.A. (AGRO - Free Report) . Corteva focuses primarily on agricultural technology solutions, including seeds and crop protection products, while ADM operates a large-scale agricultural processing and commodities platform and AGRO has exposure to farming, sugar, ethanol and agricultural production assets.
Bottom LineCorteva’s improving fundamentals are supported by Seed technology demand, new Crop Protection products and cost discipline. The company has raised its 2026 outlook and continues to execute on its separation plan. However, elevated valuation, competitive pricing pressure and execution risks around the separation limit near-term upside potential.
Given the balance between improving earnings trends and valuation concerns, CTVA appears more suitable for investors seeking exposure to agricultural technology growth but willing to accept moderate near-term upside potential.
Key Takeaways Corteva's Q2 EPS beat estimates as Seed profitability improved despite lower revenue.Corteva raised 2026 EBITDA guidance to $4.1-$4.3 billion on productivity and stronger execution.Crop Protection faces pricing pressure as Corteva prepares for its Oct. 1 business separation. Corteva, Inc. (CTVA - Free Report) delivered a mixed second-quarter 2026 performance, with earnings exceeding expectations while revenues fell short of the Zacks Consensus Estimate. The company raised its full-year outlook, supported by Seed technology demand, productivity initiatives and new Crop Protection products. However, investors must weigh improving earnings trends against pricing pressure, higher expenses and execution risks related to the planned separation.
Corteva reported second-quarter operating earnings of $2.30 per share, beating the Zacks Consensus Estimate of $2.24 by 2.7% and rising from $2.20 in the prior-year quarter. Revenues declined 1% year over year to $6.38 billion and missed the consensus estimate of $6.62 billion by 3.7%.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Corteva has a Neutral recommendation, with a price target of $81.00. Shares trade at 19.61X forward 12-month earnings, above the Zacks sub-industry average of 13.99X but below the broader sector and near the company’s five-year median valuation.
Image Source: Zacks Investment Research
Seed Business Drives Earnings ImprovementCorteva’s Seed segment remained a key contributor to growth. Second-quarter Seed sales were essentially flat at $4.53 billion, as a 3% increase in price/mix offset a 3% decline in volume. Demand for advanced seed technologies and higher out-licensing income supported pricing gains, while lower royalty expenses and productivity actions lifted profitability. Seed operating EBITDA increased 6% to $1.97 billion, with margin expanding more than 230 basis points.
For the first half of 2026, Seed sales increased 4% to $7.56 billion, while operating EBITDA rose 11% to $3 billion. The company benefited from higher technology adoption, stronger price/mix and improved royalty economics.
Management also expects Conkesta E3 penetration to reach high single digits to low double digits in 2027, supporting continued adoption of newer seed technologies.
Crop Protection Faces Pricing PressureCrop Protection remains the primary area requiring investor attention. Second-quarter sales declined 4% to $1.85 billion due to a 4% pricing decline and a 2% volume decline. Competitive pricing conditions in Latin America and channel purchase timing in North America pressured results.
Still, profitability improved as cost savings, productivity actions and favorable currency effects offset pricing pressure. Crop Protection operating EBITDA increased 2% to $342 million in the quarter, while first-half operating EBITDA rose 9% to $776 million.
Management expects Crop Protection volumes to grow at a high single-digit rate in the second half of 2026, driven by new product adoption, while pricing is expected to decline in the low to mid-single digits.
Outlook Raised as Productivity Supports MarginsCorteva increased its 2026 guidance following strong first-half execution. The company now expects operating EBITDA of $4.1-$4.3 billion, representing approximately 9% growth at the midpoint, and operating EPS of $3.60-$3.80 per share, representing approximately 11% growth at the midpoint.
First-half operating EBITDA increased 10% to $3.70 billion, supported by price/mix improvements, cost performance and lower royalty expenses. Productivity actions contributed more than $160 million to EBITDA improvement during the period.
Corteva competes within the broader agricultural sector alongside companies such as Archer Daniels Midland Company (ADM - Free Report) and Adecoagro S.A. (AGRO - Free Report) . Corteva focuses primarily on agricultural technology solutions, including seeds and crop protection products, while ADM operates a large-scale agricultural processing and commodities platform and AGRO has exposure to farming, sugar, ethanol and agricultural production assets.
Separation Remains a Major Investor FocusCorteva continues to prepare for its planned separation into two standalone public companies, targeting completion on Oct. 1, 2026. The company has completed several milestones, including leadership appointments, Form 10 filing and board appointments. Management stated that run-rate dis-synergies are largely offset, although separation timing is expected to create a $25 million headwind in 2026 guidance.
Investors will likely focus on whether both businesses can maintain operating momentum while completing the transition. Remaining steps include final capital structures, Form 10 effectiveness and IT separation activities.
, /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) announced today that Vylor Inc., a Delaware corporation and its wholly owned subsidiary ("Vylor"), has commenced private offers to exchange (with respect to each series, an "Exchange Offer" and together, the "Exchange Offers") any and all of the outstanding senior notes of the series listed in the table below issued by EIDP, Inc., a Delaware corporation and a wholly owned subsidiary of Corteva ("EIDP" and such notes, collectively, the "EIDP Notes"), to the extent held by eligible holders, for a corresponding series of notes to be newly issued by Vylor (collectively, the "Vylor Notes"). As previously disclosed, Corteva's Board of Directors is pursuing a plan to separate Corteva into two independent, publicly traded companies, one comprising its current crop protection business and the other comprising its current seed business to be owned and conducted, directly or indirectly, by Vylor (the "Separation"). The Exchange Offers and Consent Solicitations (as defined below) are being made in connection with the planned Separation. Each Exchange Offer and Consent Solicitation is conditioned upon, among other things, consummation of the Separation and the receipt, by the applicable Early Tender Deadline (as defined below), of the Requisite Consents (as defined below) to the Proposed EIDP Base Indenture Amendments (as defined below). The Separation is subject to the satisfaction or waiver of certain customary conditions, and Corteva's Board of Directors has the discretion to abandon or to alter the terms of the planned Separation. As publicly announced by Corteva on July 30, 2026, the Separation is currently expected to be consummated on or about October 1, 2026, subject to satisfaction or waiver of the conditions thereto.
The Exchange Offers and Consent Solicitations are being made upon the terms and conditions set forth in an exchange offer memorandum and consent solicitation statement, dated August 6, 2026 (the "Offering Memorandum"), copies of which will be made available to holders of the EIDP Notes eligible to participate in the Exchange Offers and Consent Solicitations.
The Vylor Notes will have the same interest payment dates, maturity date and interest rate as the EIDP Notes of the corresponding series. In addition to the Vylor Notes, eligible holders of EIDP Notes tendered by the applicable Early Tender Deadline and not validly withdrawn before the applicable Withdrawal Deadline (as defined below) will also receive the applicable Cash Consideration (as defined below). The following table sets forth the applicable Total Exchange Consideration (as defined below), which includes the Cash Consideration, and the applicable Exchange Consideration (as defined below) being offered for a series of EIDP Notes:
Total Exchange
Consideration for
EIDP Notes Validly
Tendered by the
Early Tender
Deadline and Not
Validly Withdrawn by
the Withdrawal
Deadline
Exchange
Consideration
for EIDP Notes
Validly
Tendered After
the Early
Tender
Deadline
Title of
Series of
EIDP
Notes
CUSIP No.
and ISIN of
EIDP Notes
Aggregate
Principal
Amount of
EIDP Notes
Outstanding
Vylor Notes
to be
Issued in
Exchange
for EIDP
Notes
Principal
Amount
of Vylor
Notes (1)
Cash
Consideration
(2)
Principal
Amount of
Vylor Notes
(3)
2.300% Senior Notes due 2030
263534CP2 US263534CP24
$
500,000,000
2.300% Senior Notes due 2030
$1,000
$2.50 to $5.00
$970
5.125% Senior Notes due 2032
263534CS6 US263534CS62
$
500,000,000
5.125% Senior Notes due 2032
$1,000
$2.50 to $5.00
$970
4.800% Senior Notes due 2033
263534CR8 US263534CR89
$
600,000,000
4.800% Senior Notes due 2033
$1,000
$2.50 to $5.00
$970
Principal amount of the applicable series of Vylor Notes issued in exchange for each $1,000 principal amount of EIDP Notes of the corresponding series validly tendered by the applicable Early Tender Deadline and not validly withdrawn by the applicable Withdrawal Deadline and accepted for exchange. Per $1,000 principal amount of the applicable series of EIDP Notes validly tendered by the applicable Early Tender Deadline and not validly withdrawn by the applicable Withdrawal Deadline and accepted for exchange, the applicable Cash Consideration will be an amount equal to the product of $2.50 multiplied by a fraction, the numerator of which is the aggregate principal amount of such series of EIDP Notes outstanding as of such Early Tender Deadline and the denominator of which is the aggregate principal amount of such series of EIDP Notes validly tendered by such Early Tender Deadline and not validly withdrawn by the applicable Withdrawal Deadline. As a result, the applicable Cash Consideration for a series of EIDP Notes will range from $2.50 per $1,000 principal amount (if all eligible holders of such series of EIDP Notes tender) to approximately $5.00 per $1,000 principal amount (if eligible holders of a simple majority of the aggregate principal amount of such series of EIDP Notes tender). The applicable Exchange Consideration does not include, and eligible holders tendering after the applicable Early Tender Deadline will not be eligible to receive, any Cash Consideration. The applicable Exchange Consideration involves the issuance of $970 principal amount of the applicable series of Vylor Notes, as opposed to $1,000 principal amount of such Vylor Notes, for each $1,000 principal amount of EIDP Notes of the corresponding series validly tendered after the applicable Early Tender Deadline and accepted for exchange. Concurrently with the Exchange Offers, Vylor is soliciting consents (with respect to the EIDP Base Indenture (as defined below) and the applicable EIDP Supplemental Indenture (as defined below) governing a series of EIDP Notes, a "Consent Solicitation" and together, the "Consent Solicitations") from eligible holders of EIDP Notes, on behalf of EIDP, to adopt certain proposed amendments to the base indenture (the "EIDP Base Indenture") and the supplemental indentures thereto (each, an "EIDP Supplemental Indenture") governing the EIDP Notes. The proposed amendments to the EIDP Base Indenture (the "Proposed EIDP Base Indenture Amendments") would eliminate substantially all of the restrictive covenants and events of default (other than payment-related and bankruptcy-related events of default) from the EIDP Base Indenture. Approval of the Proposed EIDP Base Indenture Amendments requires consents from the holders of at least a majority of the aggregate principal amount of all the EIDP Notes, voting as a single class (the "Requisite Consents"). The Exchange Offers are conditioned upon, among other things, receipt, by the applicable Early Tender Deadline, of the Requisite Consents to the Proposed EIDP Base Indenture Amendments. The proposed amendments with respect to each EIDP Supplemental Indenture (the "Proposed EIDP Supplemental Indenture Amendments" and, together with the Proposed EIDP Base Amendments, the "Proposed Amendments") would eliminate the offer to repurchase upon change of control provisions from the applicable EIDP Supplemental Indenture. Approval of the Proposed EIDP Supplemental Indenture Amendments requires consents from the holders of at least a majority of the aggregate principal amount of the applicable series of EIDP Notes (the "Majority Consents"). The Exchange Offers are not conditioned upon the receipt of the Majority Consents with respect to any EIDP Supplemental Indenture. When an eligible holder validly tenders their EIDP Notes in the applicable Exchange Offer, they are automatically treated as having validly delivered the related consents to the Proposed Amendments with respect to such EIDP Notes. Eligible holders will not be permitted to tender their EIDP Notes without delivering related consents or to deliver related consents without tendering their EIDP Notes.
Each Exchange Offer and Consent Solicitation will expire at 5:00 p.m., New York City time, on September 3, 2026, unless extended or earlier terminated (such date and time, as they may be extended, the "Expiration Date"). Tenders of a series of EIDP Notes may be validly withdrawn at or prior to 5:00 p.m., New York City time, on August 19, 2026, unless extended or earlier terminated with respect to the applicable Exchange Offer (such date and time, as they may be extended, the "Withdrawal Deadline"), but tenders of such EIDP Notes not so validly withdrawn will thereafter be irrevocable, except in certain limited circumstances where additional withdrawal rights are required by law. A valid withdrawal of the applicable series of EIDP Notes at or prior to 5:00 p.m., New York City time, on August 19, 2026 (such date and time, as they may be extended to any date and time that is no later than the Withdrawal Deadline, the "Consent Revocation Deadline") will also constitute the revocation of the related consents. With respect to a series of EIDP Notes, consents may not be revoked after the applicable Consent Revocation Deadline. Vylor reserves the right to terminate, withdraw, amend or extend an Exchange Offer and Consent Solicitation in its sole discretion, subject to the terms and conditions set forth in the Offering Memorandum.
Subject to the terms and conditions set forth in the Offering Memorandum, for each $1,000 principal amount of the applicable series of EIDP Notes validly tendered in the applicable Exchange Offer by 5:00 p.m., New York City time, on August 19, 2026, unless extended or earlier terminated with respect to the applicable Exchange Offer and Consent Solicitation (such date and time, as they may be extended, the "Early Tender Deadline"), and not validly withdrawn by the applicable Withdrawal Deadline, each eligible holder of EIDP Notes will be eligible to receive (i) Vylor Notes of the corresponding series in an equal principal amount as such series of EIDP Notes tendered and accepted for exchange and (ii) a cash payment of an amount equal to the product of $2.50 multiplied by a fraction, the numerator of which is the aggregate principal amount of such series of EIDP Notes outstanding as of the applicable Early Tender Deadline and the denominator of which is the aggregate principal amount of such series of EIDP Notes validly tendered by such Early Tender Deadline and not validly withdrawn by the applicable Withdrawal Deadline (the "Cash Consideration" and, together with such amount of Vylor Notes, the "Total Exchange Consideration"). As a result, the applicable Cash Consideration for a series of EIDP Notes will range from $2.50 per $1,000 principal amount (if all eligible holders of such series of EIDP Notes tender) to approximately $5.00 per $1,000 principal amount (if eligible holders of a simple majority of the aggregate principal amount of such series of EIDP Notes tender).
Eligible holders who validly tender their EIDP Notes after the applicable Early Tender Deadline but on or prior to the Expiration Date will be eligible to receive $970 principal amount of the applicable series of Vylor Notes per $1,000 principal amount of the corresponding series of EIDP Notes validly tendered (the "Exchange Consideration") but no Cash Consideration.
In addition, all eligible holders whose EIDP Notes are validly tendered and accepted for exchange in the Exchange Offers and Consent Solicitations will receive a cash payment equal to the accrued and unpaid interest on their EIDP Notes accepted for exchange from the last interest payment date of the applicable EIDP Notes preceding the Settlement Date up to, but excluding, the Settlement Date.
Assuming the conditions to the Exchange Offers and Consent Solicitations are satisfied or (to the extent permitted) waived, settlement of the Exchange Offers is expected to occur on or about the second business day following the Expiration Date and substantially simultaneously with the consummation of the Separation, unless Vylor extends or terminates the Exchange Offers (such date and time, as the same may be extended, the "Settlement Date"). Accordingly, Vylor may, in its discretion, extend each of the Expiration Date and the Settlement Date as necessary to maintain such sequencing. Interest on the applicable series of Vylor Notes issued in the related Exchange Offer will accrue from (and including) the Issue Date (the date on which such Vylor Notes are issued in exchange for the corresponding series of EIDP Notes).
The Vylor Notes to be issued in the Exchange Offers will be issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. No tender of EIDP Notes of any series will be accepted if it would result in the issuance of less than $2,000 principal amount of the corresponding series of Vylor Notes. If the principal amount of the applicable series of Vylor Notes that would otherwise be required to be delivered in exchange for a tender of the corresponding series of EIDP Notes would not equal $2,000 or an integral multiple of $1,000 in excess thereof, then the principal amount of such Vylor Notes will be rounded down to $2,000 or the nearest integral multiple of $1,000 in excess thereof, and Vylor will pay cash (in lieu of such Vylor Notes not delivered) equal to the remaining portion of the applicable Exchange Consideration for such corresponding series of EIDP Notes plus accrued and unpaid interest with respect to that portion to, but not including, the Settlement Date.
Vylor's obligation to accept and exchange any EIDP Notes validly tendered pursuant to the applicable Exchange Offer is subject to, and conditioned upon, the satisfaction or (to the extent permitted) waiver of certain conditions as set forth in the Offering Memorandum. Each Exchange Offer and Consent Solicitation is conditioned upon, among other things, (i) the consummation of the Separation and (ii) the receipt, by the applicable Early Tender Deadline, of the Requisite Consents to adopt the Proposed EIDP Base Indenture Amendments. Receipt of the Majority Consents to adopt the Proposed EIDP Supplemental Indenture Amendments is not a condition to the consummation of any of the Exchange Offers and Consent Solicitations. Other than the Separation (without the consummation of which the Exchange Offers and Consent Solicitations will not be consummated, neither the applicable Exchange Consideration nor the applicable Total Exchange Consideration will be delivered, and the Proposed Amendments contemplated by the Consent Solicitations will not become effective), Vylor may generally waive any condition with respect to the Exchange Offers and Consent Solicitations, in its sole discretion, at any time prior to the Expiration Date.
The Exchange Offers and Consent Solicitations are being made only to holders of EIDP Notes who satisfy the eligibility conditions described under "Disclaimer" below. Holders of EIDP Notes who desire a copy of the eligibility letter should contact D.F. King & Co., Inc., the information agent and exchange agent for the Exchange Offers and Consent Solicitations, by phone at (800) 283-9185 or by email at [email protected]. Banks and brokers should call (646) 461-2610. The eligibility letter may also be found here: www.dfking.com/vylor. D.F. King & Co., Inc. will also provide copies of the Offering Memorandum to eligible holders of EIDP Notes.
Holders of EIDP Notes are advised to check with any bank, securities broker or other intermediary through which they hold EIDP Notes as to when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in, or (in the circumstances in which revocation is permitted) revoke their instruction to participate in, the Exchange Offers and Consent Solicitations before the deadlines specified herein and in the Offering Memorandum. The deadlines set by each clearing system for the submission and withdrawal of exchange instructions will also be earlier than the relevant deadlines specified herein and in the Offering Memorandum.
Disclaimer
This press release is issued pursuant to Rule 135c under the Securities Act of 1933, as amended (the "Securities Act"). This press release is neither an offer to sell nor the solicitation of an offer to buy the Vylor Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful. The Exchange Offers and Consent Solicitations have not been and will not be registered under the Securities Act, or the securities laws of any other jurisdiction, and, accordingly, the Vylor Notes will be subject to transfer restrictions unless and until the Vylor Notes are registered or exchanged for registered notes. The Vylor Notes will be issued in reliance upon exemptions from, or in transactions not subject to, registration under the Securities Act. The Exchange Offers and Consent Solicitations are being made only to, and the Vylor Notes will be offered for exchange only to, holders of EIDP Notes who are (i) reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act, and (ii) outside the United States, persons who are not, and who are not acting for the account or benefit of, "U.S. persons" (as defined in Rule 902 under the Securities Act) in compliance with Regulation S under the Securities Act. The Vylor Notes will not be offered or sold in the United States or to U.S. persons (as defined in Rule 902 under the Securities Act) unless the transaction is registered under the Securities Act, an exemption from the registration requirements of the Securities Act is available or the transaction is not subject to registration under the Securities Act.
The Exchange Offers and Consent Solicitations are being made only pursuant to the Offering Memorandum. The Offering Memorandum and other documents relating to the Exchange Offers and Consent Solicitations will be distributed only to holders of EIDP Notes who confirm that they are within the categories of eligible participants in the Exchange Offers and Consent Solicitations. None of Vylor, its directors or officers, the dealer managers and solicitation agents, the exchange agent, the information agent, the trustees for the Vylor Notes or the EIDP Notes, their respective affiliates, or any other person is making any recommendation as to whether holders should tender their EIDP Notes in the Exchange Offers or deliver related consents to the Proposed Amendments in the Consent Solicitations.
The complete terms and conditions of the Exchange Offers and Consent Solicitations are set forth in the Offering Memorandum. The Exchange Offers and Consent Solicitations are only being made pursuant to the Offering Memorandum. The Exchange Offers and Consent Solicitations are not being made to holders of EIDP Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY OTHER REGULATORY BODY HAS REGISTERED, RECOMMENDED OR APPROVED OF THE VYLOR NOTES OR PASSED UPON THE ACCURACY OR ADEQUACY OF THE OFFERING MEMORANDUM. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
About Corteva
Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.
Cautionary Statement on Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the U.S. federal securities laws about the Company, Vylor, EIDP, the Exchange Offers and Consent Solicitations and the Separation, including but not limited to all statements about the timing and consummation of the Exchange Offers and Consent Solicitations and the Separation, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current assumptions regarding future business and financial performance and, by their nature, address matters that are uncertain to different degrees. You can identify forward-looking statements by the use of words such as "plans," "expects," "will," "anticipates," "believes," "intends," "projects," "estimates," "outlook" or other words of similar meaning. These forward-looking statements are subject to risks and uncertainties that could cause actual results to be materially different from those set forth in such forward-looking statements, including but not limited to, the risk: (i) that general economic and capital markets conditions may adversely affect the Exchange Offers and Consent Solicitations or the Separation; (ii) that the conditions to the Exchange Offers and Consent Solicitations or the Separation, including the receipt of the Requisite Consents, may not be satisfied or waived; (iii) that any event, change or other circumstance could give rise to the termination of the Exchange Offers and Consent Solicitations and/or the Separation; (iv) of the effects that any termination of the Separation may have on the Company or its subsidiaries; (v) that legal proceedings may be instituted related to the Separation or otherwise; (vi) of unexpected costs, charges or expenses; and (vii) of other risks and uncertainties described in the Company's and EIDP's filings with the U.S. Securities and Exchange Commission (the "SEC"), including under the heading "Risk Factors" (Item 1A) in the Company's most recently filed Annual Report on Form 10-K and in the Company's subsequent Quarterly Reports on Form 10-Q, and in other documents that the Company or EIDP files or furnishes with the SEC. Neither the Company nor EIDP undertakes any obligation to update or revise any forward-looking statement, except as required by applicable law.
SummaryCorteva, Inc. will split into two companies—New Corteva (Crop Protection) and Vylor (Seed)—with the breakup expected in Q4 2026.Both CTA.PR.A and CTA.PR.B preferred stocks will remain with New Corteva, which retains strong equity and income coverage post-split.Preferreds offer investment-grade BBB ratings, cumulative dividends, low call risk, and diversification beyond financial issuers.I maintain a Strong Buy on CTA-B and move to a Strong Buy on CTA-A, citing robust coverage ratios and minimal default risk versus higher-yield, higher-risk alternatives.Preferreds offer fixed rates, low call risk, and portfolio diversification away from financials, with yields near 7% and investment-grade ratings.Looking for a portfolio of ideas like this one? Members of iREIT®+HOYA Capital get exclusive access to our subscriber-only portfolios. Learn More » higyou/iStock via Getty Images
Introduction Time moves slowly when a company decides to have parts go their separate ways. Corteva, Inc. (CTVA) announced their plan to divide along their two main business lines, seeds and crop protection, last October. Current thought
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Release Date: July 31, 2026For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Strong first-hal
Corteva, Inc. (CTVA) Q2 2026 Earnings Call July 31, 2026 9:00 AM EDT
Company Participants
Kimberly Booth - Vice President of Investor Relations
Charles Magro - CEO & Director
David Johnson - Executive VP & CFO
Luther Kissam - Chief Executive Officer of Crop Protection Business
Judd O’Connor - Executive Vice President of Seed Business Unit
Conference Call Participants
Vincent Andrews - Morgan Stanley, Research Division
Christopher Parkinson - Wolfe Research, LLC
Joel Jackson - BMO Capital Markets Equity Research
Matthew Hettwer - Vertical Research Partners, LLC
David Begleiter - Deutsche Bank AG, Research Division
Frank Mitsch - Fermium Research, LLC
Kristen Owen - Oppenheimer & Co. Inc., Research Division
Fabian Jimenez
Lucas Beaumont - UBS Investment Bank, Research Division
Benjamin Theurer - Barclays Bank PLC, Research Division
Rachel De Leon
Arun Viswanathan - RBC Capital Markets, Research Division
Edlain Rodriguez - Mizuho Securities USA LLC, Research Division
Presentation
Operator
Hello, everyone. Thank you for joining us, and welcome to the Corteva Agriscience Second Quarter 2026 Earnings Conference Call. [Operator Instructions]
I will now hand the conference over to Kim Booth, Head of Investor Relations. Kim, please go ahead.
Kimberly Booth
Vice President of Investor Relations
Good morning, and welcome to Corteva's Second Quarter and First Half 2026 Earnings Conference Call. Our prepared remarks today will be led by Chuck Magro, Chief Executive Officer; and David Johnson, Executive Vice President and Chief Financial Officer. Additionally, Judd O'Connor, Executive Vice President, Seed Business Unit; Robert King, Executive Vice President and Strategic Adviser as well as Luke Kissam, future CEO for New Corteva will join the Q&A session.
We have prepared presentation slides to supplement our remarks during this call, which are posted on the Investor Relations section of the Corteva website and through the link to our webcast.
During this call, we will make forward-looking statements, which are our expectations about the future. These statements are based on
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Corteva, Inc. (CTVA - Free Report) , a company that currently holds a Momentum Style Score of A. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Corteva, Inc. currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?Let's discuss some of the components of the Momentum Style Score for CTVA that show why this agriculture shows promise as a solid momentum pick.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For CTVA, shares are up 2.23% over the past week while the Zacks Agriculture - Operations industry is down 0.7% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 4.13% compares favorably with the industry's 0.19% performance as well.
While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics -- such as performance over the past three months or year -- can be useful as well. Shares of Corteva, Inc. have increased 12.99% over the past quarter, and have gained 23.86% in the last year. In comparison, the S&P 500 has only moved 3.48% and 18.18%, respectively.
Investors should also pay attention to CTVA's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. CTVA is currently averaging 3,285,966 shares for the last 20 days.
Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with CTVA.
Over the past two months, 3 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost CTVA's consensus estimate, increasing from $3.72 to $3.76 in the past 60 days. Looking at the next fiscal year, 2 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom LineTaking into account all of these elements, it should come as no surprise that CTVA is a #2 (Buy) stock with a Momentum Score of A. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Corteva, Inc. on your short list.