Corteva completes seed spin-off as crop protection Q3 sales hit $1.69 billion
Corteva completed the spin-off of its seed business as Vylor Inc. on Oct. 1, 2026. The remaining crop protection unit reported third-quarter net sales of $1.69 billion, down from $1.79 billion a year earlier.
Key takeaways
- Corteva (CTVA) completed the separation of its seed business into Vylor Inc. on Oct. 1, 2026, through a pro rata dividend of Vylor shares to Corteva holders of record on Sept. 24. Its Crop Protection business reported third-quarter net sales of $1.69 billion, down from $1.79 billion a year earlier, and operating earnings of $77 million.
Corteva (CTVA) completed the separation of its seed business on Oct. 1, 2026, spinning it off as Vylor Inc. through a pro rata dividend to holders of Corteva common stock as of the close of business on Sept. 24, 2026. The transaction was intended to be tax-free for U.S. federal income tax purposes.
Shares were little changed after hours at 6:24 p.m. ET, from a $9.22 close.
The remaining business, New Corteva, is the crop protection unit. Net sales were $1.69 billion in the third quarter, down from $1.79 billion a year earlier.
Operating earnings were $77 million, against $129 million a year earlier. Operating EBITDA was $299 million, compared with $315 million.
Restructuring and asset related charges were $22 million in the quarter, against $30 million a year earlier.
The company expects aggregate pre-tax charges of $720 million to $783 million under its Crop Protection Operations Strategy Restructuring Program, substantially complete by the end of 2028.