Corteva, Inc. (CTVA) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Corteva, Inc. (CTVA) reported revenue of $2.59 billion, down 6.7% over the same period last year. EPS came in at -$0.23, compared to -$0.12 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.68 billion, representing a surprise of -3.26%. The company delivered an EPS surprise of +11.54%, with the consensus EPS estimate being -$0.26.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $878 million versus the four-analyst average estimate of $892.04 million. The reported number represents a year-over-year change of +1.9%.
Revenue- Crop Protection: $1.71 billion versus $1.82 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -10.6% change.
Revenue- Crop Protection- Other: $255 million versus $159.73 million estimated by two analysts on average.
Revenue- Seed- Other: $60 million compared to the $82.15 million average estimate based on two analysts.
Revenue- Crop Protection- Herbicides: $815 million versus the two-analyst average estimate of $980.92 million.
Revenue- Crop Protection- Insecticides: $416 million versus the two-analyst average estimate of $434.85 million.
Revenue- Crop Protection- Fungicides: $226 million versus $432.23 million estimated by two analysts on average.
Revenue- Seed- Soybean: $189 million compared to the $203.34 million average estimate based on two analysts.
Revenue- Seed- Corn: $487 million versus the two-analyst average estimate of $507.93 million.
Revenue- Seed- Other oilseeds: $142 million versus $104.11 million estimated by two analysts on average.
Operating EBITDA- Seed: -$138 million versus the four-analyst average estimate of -$197.45 million.
Operating EBITDA- Corporate: -$28 million versus the four-analyst average estimate of -$31 million.
View all Key Company Metrics for Corteva, Inc. here>>>
Shares of Corteva, Inc. have returned -2.5% over the past month versus the Zacks S&P 500 composite's +1.7% 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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Corteva, Inc. (CTVA) : Free Stock Analysis Report
