EIDP, Inc. Reports Annual Financial Results with 3% Revenue Growth

**EIDP, Inc. Reports Mixed Financial Results in Annual Filing**

EIDP, Inc., a wholly-owned subsidiary of Corteva, Inc., has released its annual report on Form 10-K, detailing its financial performance and operational activities for the fiscal year ended December 31, 2025. The filing, a combined report with Corteva, Inc., indicates that EIDP's financial results are largely aligned with its parent company, with some key differences primarily stemming from EIDP's preferred stock, related party transactions, and capital structure. EIDP reported net sales of $17.401 billion, mirroring Corteva's consolidated revenue, reflecting a 3% increase compared to the previous year. This growth was attributed to a 1% increase in price and a 3% increase in volume, partially offset by a 1% unfavorable currency impact.

A key divergence from Corteva's consolidated results lies in other income (expense) - net, which was reported as $(570) million for EIDP, compared to $(261) million in the previous year. This increase in expense was primarily driven by the resolution of litigation matters and the one-time receipt of an indemnification payment negotiated with the former Stoller owners during the first quarter of 2024. EIDP's interest expense decreased to $180 million from $233 million, driven by lower short-term borrowings and lower interest rates. The company's effective tax rate was 28.7%, impacted by a charge on the establishment of a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil, unfavorable geographic mix of earnings, a charge associated with repatriation of cash held outside of the U.S. primarily from current year earnings, and the unfavorable tax impact of certain net exchange losses recognized on the re-measurement of the net monetary asset positions.

Operationally, EIDP's performance is closely tied to Corteva's strategic initiatives. The Crop Protection Operations Strategy Restructuring Program, initiated in 2023, continues to impact EIDP's financial results, with restructuring and asset-related charges of $146 million recorded for the year. This program, aimed at optimizing the Crop Protection network, is expected to yield approximately $180 million in savings on a run-rate basis by 2027. EIDP's liquidity is managed in conjunction with Corteva, with access to a shared pool of credit facilities.

Looking ahead, EIDP's performance will be influenced by Corteva's strategic priorities, including a focus on execution, innovation, and disciplined capital deployment. The planned separation of Corteva's Seed and Crop Protection businesses into two independent, publicly traded companies in the second half of 2026 is expected to have a significant impact on EIDP's future operations and financial structure. EIDP's management believes that its cash on hand, ability to generate cash from operations, and access to capital markets will be adequate to meet anticipated cash requirements, including seasonal working capital, capital spending, dividend payments, and litigation costs.