Corteva Q4 2020 Earnings Report
Key Takeaways
Corteva's Q4 2020 results showed an 8% increase in net sales and a significant 336% increase in GAAP income from continuing operations after tax. The company's performance was driven by the adoption of new technologies in Seed and Crop Protection, as well as cost and productivity actions, which offset negative impacts from currency and divestitures.
Net sales increased by 8% compared to the same period last year, with organic sales increasing by 16%.
Volume grew by 10% versus the prior-year period, driven primarily by continued adoption of new and differentiated Crop Protection products.
GAAP income from continuing operations after income taxes was $99 million.
Operating EBITDA increased by 5% compared to the same period last year.
Corteva
Corteva
Corteva Revenue by Segment
Corteva Revenue by Geographic Location
Forward Guidance
Corteva expects net sales in the range of $14.4 billion to $14.6 billion, which at the mid-point represents expected net sales growth of 2% for the year and organic sales growth of 3% for the year. Operating EBITDA is expected to be in the range of $2.4 billion to $2.5 billion and operating EPS range is expected to be between $1.85 and $1.95 per share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income