secwatch.observer — SEC 8-K summary
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Issuer:     Corteva, Inc. (CTVA)
CIK:        0001755672
Form:       8-K
Filed at:   2023-11-08T23:59:59+00:00
Accession:  0001755672-23-000022
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 2.05, 2.06, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Corteva Q3 net loss $315M; affirms FY guidance; announces $410-460M restructuring
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- Q3 net loss from continuing ops $315M, diluted EPS -$0.45; organic sales down 13% vs prior year.
- Seed net sales $878M (+2%) on 14% price; Op EBITDA -$138M, improvement of 38% YoY.
- Crop Protection net sales $1.71B (-11%); Op EBITDA $184M (-48%) on volume declines.
- FY guidance reaffirmed: net sales $17.0-17.3B, Op EBITDA $3.25-3.45B, Op EPS $2.50-2.70.
- Restructuring plan: exit Pittsburg CA site, charges $410-460M, $165-175M impairment in Q4, ~$100M run-rate savings by 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1755672/000175567223000022/0001755672-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1755672/000175567223000022/ctva-20231108.htm
  HTML page:      https://secwatch.observer/filing/0001755672-23-000022

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