Corteva Q4 2024 Earnings Report
Key Takeaways
Corteva reported a 7% increase in net sales and a GAAP loss from continuing operations of $50 million for Q4 2024. Organic sales increased by 13%, with volume up 17% due to growth in both Crop Protection and Seed segments. The company's Operating EBITDA increased by 36% to $525 million.
Net sales increased by 7% compared to the same period last year.
Organic sales increased by 13% driven by volume growth in Crop Protection and Seed segments.
GAAP income from continuing operations after income taxes was a loss of $50 million.
Operating EBITDA increased by 36% to $525 million, reflecting margin improvement.
Corteva
Corteva
Corteva Revenue by Segment
Corteva Revenue by Geographic Location
Forward Guidance
For full-year 2025, Corteva expects net sales in the range of $17.2 billion to $17.6 billion, Operating EBITDA to be $3.6 billion to $3.8 billion, and Operating EPS to be $2.70 to $2.95 per share. The company expects to repurchase approximately $1.0 billion of shares in 2025.
Positive Outlook
- Net sales are expected to grow by 3% at the mid-point.
- Operating EBITDA is expected to grow by 10% at the mid-point.
- Operating EPS is expected to grow by 10% at the mid-point.
- The company expects to repurchase approximately $1.0 billion of shares in 2025.
- Agriculture fundamentals remain constructive due to record global consumption of corn and soybeans.
Challenges Ahead
- Price pressure will persist in the Crop Protection industry.
- A strong USD will impact the agricultural economy throughout 2025.
- The company is unable to reconcile its forward-looking non-GAAP financial measures to its most comparable U.S. GAAP financial measures.
- Restructuring activities are expected to result in net pre-tax restructuring charges during 2025.
- The company anticipates the strong USD will impact the agricultural economy throughout 2025