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Sep 30, 2021
Corteva Q3 2021 Earnings Report
Corteva's third quarter performance was driven by strong sales growth across all regions and segments, with significant contributions from Latin America and North America, resulting in increased GAAP income and EPS.
Key Takeaways
Corteva reported a strong third quarter with net sales increasing by 27% and organic sales rising by 24%. Volume gains and strong price execution drove Operating EBITDA improvement of 72%. The company has increased its net sales and Operating EPS guidance for the full year.
Net sales increased by 27% versus prior year, driven by Latin America and North America.
Crop Protection net sales grew 22% and Seed net sales increased 41%.
GAAP income and earnings per share (EPS) from continuing operations were $36 million and $0.05 per share, respectively.
The company increased its net sales guidance to be in the range of $15.5 billion and $15.7 billion and increased Operating EPS guidance to be in the range of $2.05 and $2.15 per share.
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
The Company increased its previously provided net sales guidance for the full year 2021 and now expects net sales in the range of $15.5 billion to $15.7 billion. Operating EBITDA guidance was affirmed in the range of $2.5 billion to $2.6 billion. Operating EPS guidance was increased to $2.05 to $2.15 per share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income