News

Corteva, Inc. (CTVA) reported $4.49 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 8%. EPS of $0.89 for the same period compares to $1.16 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $4.56 billion, representing a surprise of -1.42%. The company delivered an EPS surprise of +12.66%, with the consensus EPS estimate being $0.79.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Corteva, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Revenue- Seed: $2.75 billion compared to the $2.78 billion average estimate based on four analysts. The reported number represents a change of +2.1% year over year.
• Revenue- Crop Protection: $1.74 billion versus $1.84 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -20.5% change.
• Revenue- Crop Protection- Other: $187 million versus the two-analyst average estimate of $144.73 million. The reported number represents a year-over-year change of +4.5%.
• Revenue- Seed- Other: $127 million versus the two-analyst average estimate of $150.79 million. The reported number represents a year-over-year change of -13%.
• Revenue- Crop Protection- Herbicides: $886 million versus $983.34 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -28.7% change.
• Revenue- Crop Protection- Insecticides: $373 million versus $399.08 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -8.8% change.
• Revenue- Crop Protection- Fungicides: $295 million compared to the $284.03 million average estimate based on two analysts. The reported number represents a change of -17.8% year over year.
• Revenue- Seed- Soybean: $292 million versus the two-analyst average estimate of $271.80 million. The reported number represents a year-over-year change of +8.6%.
• Revenue- Seed- Corn: $2.09 billion versus $2.03 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +5.5% change.
• Revenue- Seed- Other oilseeds: $245 million versus $304.70 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -18.6% change.
• Operating EBITDA- Seed: $748 million versus $656 million estimated by four analysts on average.
• Operating EBITDA- Corporate: -$24 million compared to the -$28.91 million average estimate based on four analysts.

View all Key Company Metrics for Corteva, Inc. here>>>

Shares of Corteva, Inc. have returned -5.3% over the past month versus the Zacks S&P 500 composite's -4.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.