Corteva, Inc. (CTVA - Free Report) reported $6.05 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 3.3%. EPS of $1.60 for the same period compares to $1.64 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $6.45 billion, representing a surprise of -6.24%. The company delivered an EPS surprise of +1.27%, with the consensus EPS estimate being $1.58.
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.
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: $4.26 billion versus the four-analyst average estimate of $4.11 billion. The reported number represents a year-over-year change of +8%.
- Revenue- Crop Protection: $1.78 billion compared to the $2.37 billion average estimate based on four analysts. The reported number represents a change of -22.7% year over year.
- Revenue- Crop Protection - Other: $212 million compared to the $132.98 million average estimate based on two analysts.
- Revenue- Seed - Other: $142 million versus the two-analyst average estimate of $188.73 million.
- Revenue- Crop Protection - Herbicides: $986 million versus the two-analyst average estimate of $1.25 billion.
- Revenue- Crop Protection - Insecticides: $331 million compared to the $569.66 million average estimate based on two analysts.
- Revenue- Crop Protection - Fungicides: $252 million versus the two-analyst average estimate of $444.37 million.
- Revenue- Seed - Soybean: $1.26 billion compared to the $1.28 billion average estimate based on two analysts.
- Revenue- Seed - Corn: $2.67 billion versus the two-analyst average estimate of $2.37 billion.
- Revenue- Seed - Other oilseeds: $194 million compared to the $240.63 million average estimate based on two analysts.
- Operating EBITDA- Seed: $1.46 billion versus the four-analyst average estimate of $1.24 billion.
- Operating EBITDA- Corporate: -$32 million compared to the -$31.50 million average estimate based on four analysts.
View all Key Company Metrics for Corteva, Inc. here>>>Shares of Corteva, Inc. have returned -1.2% over the past month versus the Zacks S&P 500 composite's +1.5% 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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With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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Corteva, Inc. (CTVA - Free Report) reported $6.05 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 3.3%. EPS of $1.60 for the same period compares to $1.64 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $6.45 billion, representing a surprise of -6.24%. The company delivered an EPS surprise of +1.27%, with the consensus EPS estimate being $1.58.
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.
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: $4.26 billion versus the four-analyst average estimate of $4.11 billion. The reported number represents a year-over-year change of +8%.
- Revenue- Crop Protection: $1.78 billion compared to the $2.37 billion average estimate based on four analysts. The reported number represents a change of -22.7% year over year.
- Revenue- Crop Protection - Other: $212 million compared to the $132.98 million average estimate based on two analysts.
- Revenue- Seed - Other: $142 million versus the two-analyst average estimate of $188.73 million.
- Revenue- Crop Protection - Herbicides: $986 million versus the two-analyst average estimate of $1.25 billion.
- Revenue- Crop Protection - Insecticides: $331 million compared to the $569.66 million average estimate based on two analysts.
- Revenue- Crop Protection - Fungicides: $252 million versus the two-analyst average estimate of $444.37 million.
- Revenue- Seed - Soybean: $1.26 billion compared to the $1.28 billion average estimate based on two analysts.
- Revenue- Seed - Corn: $2.67 billion versus the two-analyst average estimate of $2.37 billion.
- Revenue- Seed - Other oilseeds: $194 million compared to the $240.63 million average estimate based on two analysts.
- Operating EBITDA- Seed: $1.46 billion versus the four-analyst average estimate of $1.24 billion.
- Operating EBITDA- Corporate: -$32 million compared to the -$31.50 million average estimate based on four analysts.
View all Key Company Metrics for Corteva, Inc. here>>>Shares of Corteva, Inc. have returned -1.2% over the past month versus the Zacks S&P 500 composite's +1.5% 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.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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