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Jun 30, 2021
Corteva Q2 2021 Earnings Report
Net sales and EPS increased, driven by volume and price gains, as well as the adoption of new technologies.
Key Takeaways
Corteva reported an 8% increase in net sales and a 36% increase in EPS for the second quarter of 2021. The company's performance was driven by strong demand for its innovative products, its ability to price for value, and its focus on execution.
Net sales increased 8% versus the same period last year.
Organic sales rose 6%, with increases in most regions.
GAAP income from continuing operations after income taxes was $1.0 billion in second quarter 2021.
Operating EBITDA for the second quarter was $1.46 billion, up 18% compared to the year-ago period.
Corteva
Corteva
Corteva Revenue by Segment
Corteva Revenue by Geographic Location
Revenue by Segment
Seed Revenue
CapyFin.comCrop Protection Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comEMEA Revenue
CapyFin.comLatin America Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com Forward Guidance
Corteva updated its previously provided guidance for the full year 2021 – increasing sales and earnings expectations for this period.
Positive Outlook
- Corteva expects net sales in the range of $15.2 billion to $15.4 billion, which at the mid-point represents expected net sales growth of 8% for the year.
- The Company expects Operating EBITDA to be in the range of $2.5 billion to $2.6 billion, which at the midpoint represents expected Operating EBITDA growth of 22% for the year.
- Operating EPS is expected to be in the range of $2.00 and $2.10 per share.
- Strength of the Company’s global footprint evident in market share gains in key markets, notably Latin America in Brazil Safrinha corn and Europe in Crop Protection
- Driving execution on sustainable innovation, production efficiencies and transition to renewable energy sources
Challenges Ahead
- Failure to obtain or maintain the necessary regulatory approvals for some Corteva’s products
- Effect of climate change and unpredictable seasonal and weather factors
- Effect of volatility in Corteva’s input costs
- Risks related to COVID-19
- Risks associated with our CEO transition, including failure to timely identify a successor CEO.
Revenue & Expenses
Visualization of income flow from segment revenue to net income