secwatch.observer — SEC 8-K summary
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Issuer:     Corteva, Inc. (CTVA)
CIK:        0001755672
Form:       8-K
Filed at:   2024-11-06T23:59:59+00:00
Accession:  0001755672-24-000021
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 2.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Corteva reports Q3 loss, updates FY guidance, announces restructuring cost increase
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- Q3 2024 net sales $2.33B (-10% YoY); GAAP loss from cont. ops $519M; GAAP EPS -$0.76.
- Seed sales $691M (-21% YoY) on lower corn area in Argentina; Seed segment EBITDA -$320M vs -$138M prior year.
- Crop Protection sales $1.64B (-4% YoY) but volume +11%; segment EBITDA $246M (+34% YoY).
- Updated FY2024 guidance: net sales $17.0-17.2B; Op. EBITDA $3.35-3.45B; Op. EPS $2.50-2.60; expects ~$1B share repurchases.
- Restructuring charges revised to $650-700M pre-tax (incl. Pittsburg plant exit); cash $330-360M; completion by end-2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1755672/000175567224000021/0001755672-24-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1755672/000175567224000021/ctva-20241106.htm
  HTML page:      https://secwatch.observer/filing/0001755672-24-000021

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