Corteva Q1 organic sales up 10% to $5.06B; raises FY2023 guidance on strong price execution

Corteva, Inc.

2023-Q1 EPS reported $0.83 revenue$4,884,000,000

GAAP EPS $0.84 vs $0.79 YoY; Operating EPS $1.16 vs $0.97, up 20% on price and productivity.
Net sales $4.88B (+6% reported, +10% organic); Seed net sales +7% (organic +10%).
Crop Protection segment operating EBITDA $603M (+23% YoY) driven by broad-based price execution.
Raises FY2023 outlook: net sales $18.6-18.9B, Operating EBITDA $3.55-3.75B, Operating EPS $2.80-3.00.
Completed acquisitions of Symborg and Stoller to expand Biologicals platform.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Corteva, Inc. reported the three months ended March 31, 2023 results: revenue $4,884, net income $607M, EPS $0.84. Guidance raised.

Period: the three months ended March 31, 2023
Revenue: $4,884
Net income: $607M
EPS: $0.84
Guidance: raised
Result: reported results

Exact text from the filing

comparable GAAP measure on a forward-looking basis. See page 5 for further discussion. 1Q 1Q % % ($ in millions, except where noted) 2023 2022 Change Organic1 Change Net Sales $4,884 $4,601 6% 10% North America $2,202 $2,005 10% 10% EMEA $1,813 $1,582 15% 25% Latin America $552 $650 (15)% (21)% Asia Pacific $317 $364 (13)% (4)% News Release 1Q 2023 News

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Source: SEC EDGAR

accession 0001755672-23-000009

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