Corteva Q2 GAAP EPS $1.23, cuts FY guidance; Seed EBITDA +18%, Crop Protection -37%

Corteva, Inc.

2023-Q2 EPS reported $1.83 revenue$10,929,000,000

Q2 net sales $6.05B (-3% YoY); GAAP EPS $1.23 (-10%); Operating EPS $1.60 (-2%).
Seed net sales +8% (organic +9%); operating EBITDA $1.46B (+18%) on price +12%.
Crop Protection net sales -23% (organic -26%); operating EBITDA $320M (-37%) on volume declines.
FY 2023 guidance lowered: net sales $17.9-18.2B, Op. EBITDA $3.50-3.65B, Op. EPS $2.75-2.90.
Dividend increased 7% annualized; Enlist E3 soybean tech at 55% U.S. penetration.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Corteva, Inc. updated its the quarter ended June 30, 2023 guidance (lowered).

Period: the quarter ended June 30, 2023
Guidance: lowered
Result: reported results

Exact text from the filing

On August 3, 2023, Corteva, Inc. (the "Company") announced its consolidated financial results for the quarter ended June 30, 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Corteva, Inc. updated its the second quarter and six months ended June 30, 2023 guidance (lowered).

Period: the second quarter and six months ended June 30, 2023
Guidance: lowered
Result: reported results

Exact text from the filing

Corteva, Inc. (NYSE: CTVA) ("Corteva" or the "Company") today reported financial results for the second quarter and six months ended June 30, 2023.

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Corteva, Inc. filing history →

Source: SEC EDGAR

accession 0001755672-23-000015

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