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Corteva, Inc. (CTVA) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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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.
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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Corteva, Inc. (CTVA) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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.