earnings
confidence high
sentiment positive
materiality 0.75
Corteva reports Q3 GAAP loss $322M; raises full-year EBITDA mid-point; to acquire Symborg
Corteva, Inc.
2022-Q3 EPS reported
$1.66
revenue$13,630,000,000
- Q3 net sales $2.78B (+17% YoY); GAAP EPS $(0.45); operating EBITDA $96M vs ($51M) prior year.
- YTD net sales $13.63B (+12%); GAAP EPS $1.72; operating EBITDA $2.85B (+23%).
- Crop Protection Q3 operating EBITDA $352M (+71%) on pricing and new product penetration.
- Raised full-year operating EBITDA guidance to $3.0-3.1B; net sales guidance affirmed $17.2-17.5B.
- Signed agreement to acquire biologicals leader Symborg; exiting commodity glyphosate ($300M 2023 headwind).