Gross profit was $108.3 million with a margin of 25.8%, slightly down from 26% in the prior year quarter.
Industrial Equipment division achieved record net sales of $240.7 million, up 17.6% organically, with operating income of $34.3 million and a 14.3% margin.
Interest expense decreased by $2.4 million due to lower debt levels, partially offsetting foreign exchange headwinds.
Net income increased nearly 10% to $31.1 million or $2.57 per diluted share, compared to $28.3 million or $2.35 per share in Q2 2024.
Operating income rose significantly to $47.1 million, with an operating margin of 11.2%, up 83 basis points year-over-year.
Second quarter 2025 revenue was $419.1 million, a modest increase from $416.3 million in Q2 2024.
Total debt was reduced by 93.5% year-over-year to $213.1 million, with net debt near zero at $11.3 million.
Vegetation Management division sales declined 15.7% to $178.4 million but showed an 8.8% sequential improvement.
Adjusted earnings per share were $0.69, $0.10 higher than prior year, mainly due to EBITDA growth and lower interest expense.
Adjusted EBITDA was $207 million, 2% higher than prior year, driven by lower costs and restructuring actions.
EMEA showed strongest growth driven by herbicides and branded Cyazypyr.
Free cash flow was $40 million, down $241 million from prior year, mainly due to absence of significant inventory reduction seen previously.
Latin America revenues increased slightly, North America sales declined 5% due to destocking in Canada, and Asia was down due to lower pricing and volumes, especially in India.
Price was down 3% due to pricing adjustments to diamide partners and FX was a mild 1% headwind.
Second quarter sales were 1% higher than prior year, driven by volume growth of 6%.
Corteva delivered top and bottom line growth in Q2 and first half 2025, with over 200 basis points of operating EBITDA margin expansion in Q2 and 300 basis points for the half.
Crop Protection segment achieved over 350 basis points of margin expansion for the half, driven by productivity, deflation benefits, and volume gains, notably in Brazil.
Currency headwinds, primarily from Turkish Lira and Canadian Dollar, negatively impacted EBITDA by roughly $150 million.
Operating EBITDA grew 13% in Q2 and 14% in the first half, reaching over $3.35 billion for the half.
Organic sales increased 7% in Q2 and 5% in the first half, driven by gains in both Seed and Crop Protection segments.
Seed segment showed 280 basis points of margin expansion and volume gains, especially in North America, with strong branded share gains in corn and soybeans.
SG&A expenses increased due to higher commissions, compensation, and bad debt, aligned with increased R&D investment targeting 8% of sales.
Dafinchi