earnings
confidence high
sentiment neutral
materiality 0.75
Corteva reports FY2023 operating EBITDA up 5% to $3.38B; provides 2024 guidance with mid-point growth
Corteva, Inc.
2023-FY EPS reported
$1.03
revenue$17,226,000,000
- Q4 net sales $3.71B (-3% YoY); GAAP loss from cont. ops $231M (EPS -$0.33).
- FY2023 net sales $17.23B (-1% YoY); GAAP net income $941M, EPS $1.30.
- FY2023 operating EBITDA $3.38B (+5% YoY); operating EPS $2.69 (+1% YoY).
- Seed segment net sales +5% to $9.47B with 13% price increase; Crop Protection net sales -9%.
- 2024 guidance: net sales $17.4-17.7B, operating EBITDA $3.5-3.7B, operating EPS $2.70-2.90, ~$1B share repurchases.