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Jun 30, 2023
Corteva Q2 2023 Earnings Report
Corteva's financial results for Q2 2023 were reported, with net sales decreasing by 3% and mixed performance across segments.
Key Takeaways
Corteva reported a decrease in net sales by 3% for the second quarter of 2023. While the Seed segment showed strong performance, it was offset by headwinds in the Crop Protection segment. The company has updated its full-year net sales and earnings guidance.
Net sales decreased by 3% compared to the same period last year.
Organic sales declined by 4%.
Operating EBITDA increased by 2% compared to prior year.
The company updated its full-year net sales and earnings guidance.
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 expects net sales in the range of $17.9 billion to $18.2 billion, Operating EBITDA in the range of $3.50 billion to $3.65 billion and Operating EPS in the range of $2.75 to $2.90 per share.
Positive Outlook
- High demand for grain and oilseeds.
- Commodity prices are above historical averages.
- Farm balance sheets and income levels remain healthy.
- Growers prioritize technology to maximize return.
Challenges Ahead
- Crop Protection order patterns are being influenced by product availability.
- Higher interest rates.
- Deferral of purchases until closer to usage.
- Lowering sales expectations for this period.
- Lowering earnings expectations for this period.