Corteva stock tumbles after CEO flags prolonged Brazil downturn

what happened

Corteva shares dropped to their lowest level in over a year on Thursday and were heading for the largest one-day percentage decline in the company’s history, according to Reuters. The US agrichemicals producer said it expects softness in Brazil to continue for the remainder of the year.

Brazil is one of the world’s biggest crop protection markets, and farmers there are short of liquidity as high interest rates raise borrowing costs and input prices climb. CEO Luke Kissam said: “We did not anticipate the magnitude nor the speed of the deterioration we have experienced in Brazil.” He added that too much product shipped into Brazilian sales channels last year never reached end users, leaving Corteva with more of its own stock there in 2026 than planned. The company estimates this will reduce 2026 core profit by $100 million.

The stock was down 20.3% at $9.68. A day earlier, Corteva sharply revised its annual forecast, now seeing adjusted core profit between $1.1 billion and $1.125 billion, versus about $1.3 billion previously. Adjusted earnings of 76 to 80 cents per share came in below the $1.63 analysts had expected, according to LSEG data.

why it matters

The seed and genetics unit was spun off as Vylor earlier this year, so the third-quarter report was Corteva’s first as a standalone company, and investors are weighing the gap from its September outlook. For crop chemical makers, the episode shows how tighter credit in Brazil can hit demand and leave distribution channels overstocked.

market impact

Corteva shares: cut guidance and Brazil demand slump weigh on the stock

• ▼Corteva shares pressure down — guidance cut and weaker Brazilian demand lower the earnings outlook

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