31.57 0.00 (0.00%)
After hours: 5:26PM EST
|Bid||30.65 x 800|
|Ask||31.99 x 1200|
|Day's Range||31.32 - 31.98|
|52 Week Range||24.10 - 32.78|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jan 29, 2020|
|Forward Dividend & Yield||0.52 (1.66%)|
|Ex-Dividend Date||Nov 26, 2019|
|1y Target Est||31.65|
Ed Breen first took on the CEO role in 2015 and led the company through its complex merger with Dow and subsequent break up into three companies.
Potential Corteva, Inc. (NYSE:CTVA) shareholders may wish to note that the Executive VP & Chief Commercial Officer...
The first half of the year, when U.S. farmers are planting and maintaining crops, is the key time of year for producers of seeds and agricultural chemicals.
WILMINGTON, Del. , Jan. 30, 2020 /CNW/ -- Corteva, Inc. (CTVA) today announced that the Company is accelerating the ramp-up of Enlist E3™ soybeans to U.S. and Canadian farmers over the next five years – reinforcing the Company's commitment to its Enlist technology and continued focus on bringing greater choice and value to growers. Corteva continues to see strong demand for the technology from farmers, retailers and independent seed companies; and expects planted acreage projections in 2020 to approach 20 percent of the U.S. market – double original expectations. "The decision to accelerate production of Enlist E3 soybeans, along with the Enlist One® and Enlist Duo® herbicides, ahead of the 2021 selling season reflects our continued focus on rapidly ramping up differentiated technology solutions that we expect will enable greater choice and value for growers over time," said James C. Collins, Jr. , Corteva Chief Executive Officer.
Corteva's (CTVA) Q4 performance is likely to have benefited from cost-saving initiatives. However, softness in the North American market poses threat.
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...
Agricultural products company American Vanguard Corp. has acquired four herbicide brands from Corteva Agriscience as it expands its crop protection business.
(Bloomberg Opinion) -- Round and round the DuPont merry-go-round of financial engineering we go.The chemicals giant agreed on Sunday to sell its nutrition and biosciences division to International Flavors & Fragrances Inc. via a tax-friendly Reverse Morris Trust transaction that values the business at about $26 billion. DuPont de Nemours Inc. will receive a one-time $7.3 billion cash payment and its shareholders will own 55.4% of the combined entity.This is just the latest in a long line of dealmaking by DuPont chairman Ed Breen, who earned the respect of the investing world for salvaging Tyco International from scandal in part by breaking it up several times.(1) At DuPont, he’s helped orchestrate a complicated merger with rival Dow Chemical and a subsequent three-way split. After some rejiggering of the combined companies’ various assets amid pushback from activist investors, DuPont this year spun off the Dow Inc. commodity-chemical business and the Corteva Inc. agricultural-products company. Breen may not be done tinkering with DuPont’s portfolio after the International Flavors deal; Bloomberg News has reported that DuPont is also evaluating a divestiture of its transportation and industrial-chemicals unit. The results of all this maneuvering have been just so-so. Dow is up about 9% since the March record date for its separation, lagging the S&P 500 Index and the benchmark’s materials sub-group. Corteva has slumped nearly 6% since its May debut. DuPont itself is down more than 14% so far this year. That’s partly a reflection of the sheer amount of time it took to orchestrate this complicated musical chairs.The merger with Dow was announced four years ago, and the interim waiting period can create a sort of spin purgatory as investors hold off on rewarding a soon-to-be-simpler company with a valuation lift until all the paperwork is signed. And when a process takes that long, you’re bound to become a victim of bad timing. Dow and Corteva were spun off into a terrible market for chemicals as the U.S.-China trade war and a slowing economic backdrop weighed on demand and profit margins. Moody’s Investors Service this month issued its 2020 outlook for the North American and EMEA chemical sector, calling for an average Ebitda decline of about 5% amid soft commodity prices and weak investment trends. DuPont shares, meanwhile, also have been dragged down by its legal fight with a prior spinoff, Chemours Co., over liabilities linked to PFAS, the so-called forever chemical that was used in the manufacturing of Teflon.Breakup enthusiasts would tell you the share slump might have been worse if these businesses were still bundled together and one management team was trying to oversee their competing capital requirements and growth profiles. There’s certainly a logic to this latest deal. Nutrition and biosciences is DuPont’s largest division and has one of the more attractive growth profiles, but DuPont clearly wasn’t getting credit for this business in its stock.The deal with IFF values the DuPont unit at more than 18 times its adjusted Ebitda in the past year, according to data compiled by Bloomberg. That’s well above what the parent company commands. At the same time, there’s a reason the nutrition and biosciences unit commands a higher valuation. The removal of this generally stable business may make it harder for DuPont to prove that its earnings and sales growth can rise above economic volatility.If DuPont follows through on carving out the transportation and industrial unit as well, that would help limit its exposure to the swings in the automotive industry, which has been a particularly tough market of late. But it’s unclear what the endgame is here. There’s something deeply unsatisfying about a company using yet more breakups to fix a valuation disconnect that its first round of breakups was meant to rectify. Eventually, you run out of assets to sell or spin off. (1) Tyco eventually merged with Johnson Controls years after Breen had moved on, and the combined company took the latter’s name.To contact the author of this story: Brooke Sutherland at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
International Flavors & Fragrances is merging with DuPont’s nutrition and bioscience business, creating a food-ingredient giant.
Many investors, including Paul Tudor Jones or Stan Druckenmiller, have been saying before last year's Q4 market crash that the stock market is overvalued due to a low interest rate environment that leads to companies swapping their equity for debt and focusing mostly on short-term performance such as beating the quarterly earnings estimates. In the […]
Corteva, Inc. (NYSE: CTVA) announced Corteva Executive Vice President and Chief Financial Officer, Greg Friedman, will participate in the Citi Basic Materials Conference in New York, NY at 8:45 a.m. Eastern Time, on Wednesday, December 4, 2019.
WILMINGTON, Del., Nov. 7, 2019 /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) announced Corteva Chief Executive Officer, James C. Collins, Jr. During his presentation, Collins will provide additional granularity on the Company's 2019 performance. Collins will also discuss recent strategic and financial updates along with portfolio and productivity actions that are setting the stage for 2020.
Corteva Inc said on Thursday demand for grains and oilseeds could be hit by a delayed soybean planting in Brazil and cooling growth in China and emerging economies, sending its shares down 8%. Persistent dry weather has pushed out soybean planting and the use of crop protection products in Brazil, the world's top exporter of the oilseed, while purchases by top buyer China have been erratic due to Beijing's trade war with Washington, which has also hit growth at the world's second-largest economy. "Coupled with production disruptions and delays, recent softening in the Chinese economy, African swine fever and slower growth in other emerging markets are impacting the demand outlook for commodity grains and oilseeds," Chief Executive Officer James Collins said on a post earnings call.