CTVA · 10-Q · 2026Q4 · Full report

Restructuring and Separation Costs

Corteva, Inc. · 2026-11-12 · Importance 73 · Surprise 66 · In source text

Corteva recorded $158 million of restructuring and asset-related charges in the first nine months of 2026, up from $131 million in the comparable 2025 period; third-quarter charges were $17 million versus $30 million. The March 2026 actions involve workforce reductions in commercial and functional support areas, with $76 million of charges recorded through September and a $45 million restructuring liability at quarter-end. Corteva estimated total charges of $70 million to $80 million for those actions and projected $115 million to $125 million of annualized savings by 2027. The Crop Protection Operations Strategy program also includes intended cessation of production at Asturias, Spain, and an exit from production activities in Pittsburg, California.

Key facts

• Corteva expects approximately $70 million to $80 million of aggregate pretax restructuring and asset-related charges for the 2026 Restructuring Actions, consisting solely of severance and related benefit costs. source
• Corteva expects the 2026 Restructuring Actions to generate estimated run-rate savings of $115 million to $125 million by 2027. source
• On March 15, 2026, Corteva approved the 2026 Restructuring Actions, a program of workforce reductions across commercial and functional support areas intended to align its organizational structure and geographic footprint with operational needs and support future standalone operating models; the actions are expected to be substantially complete by December 2026. source
• On June 12, 2026, Corteva disclosed that management had committed to the next phase of its Crop Protection Operations Strategy Restructuring Program, including intended cessation of production activities at its Asturias, Spain site, subject to consultation with the facility’s works council and union representatives. source
• On June 12, 2026, Corteva disclosed a committed next phase of its Crop Protection restructuring plan that intends to cease production activities at its Asturias, Spain site, subject to consultation with the facility’s works council and union representatives. source
• The 2026 Restructuring Actions, approved March 15, 2026, are designed to align Corteva’s organizational structure and geographic footprint with business needs, primarily through workforce reductions, and are expected to be substantially complete by December 2026. source
• Corteva’s Crop Protection Operations Strategy Restructuring Program includes exiting production activities at its Pittsburg, California site and ceasing operations in select manufacturing lines at other locations. source
• Corteva’s restructuring and asset-related charges were $158 million for the nine months ended September 30, 2026, up from $131 million in 2025; 2026 charges primarily comprised 2026 Restructuring Actions severance and related benefits and Crop Protection Operations Strategy Restructuring Program costs. source

Impact estimates