Financial Data and Key Metrics Changes - Corteva reported a 15% year-over-year increase in Q1 EBITDA, with nearly 400 basis points of margin expansion driven by strong cost execution [6][20] - Organic sales were up 3% compared to last year, with seed sales up 2% and crop protection sales up 3% [20][22] - Operating EBITDA margin reached nearly 27%, reflecting a 390 basis point increase due to organic sales growth and lower input costs [23] Business Line Data and Key Metrics Changes - The seed business saw organic sales increase by 2%, driven by pricing and strong demand, with plans to launch approximately 500 new products this year [10][20] - Crop protection organic sales increased by 3%, supported by double-digit volume growth for new products and biologicals [10][22] - Seed volume was down 1% year-over-year, while crop protection volume was up 5%, with notable gains in nearly every region [21][22] Market Data and Key Metrics Changes - In the U.S., farmers are projected to shift planted area from soybeans to corn, resulting in a projected 5% increase in corn planting [8] - Enlist beans are expected to be planted on over 65% of U.S. soybean acres in 2025, marking it as the number one selling soybean technology in the U.S. [8] - The overall crop protection market is anticipated to remain flat with low single-digit volume gains, while Corteva expects high single-digit volume gains [11][27] Company Strategy and Development Direction - Corteva aims to become the leading provider of soybean technology in Brazil, having sold over 3 million units of Conquesta E3 soybeans in the last three years [8][10] - The company is transitioning to a net out-licenser of technology, expecting to generate $65 million in benefits this year from this strategy [19] - The focus on operational excellence and cost improvements is expected to yield $400 million in net cost savings [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the first quarter performance, noting double-digit EBITDA gains and margin improvements despite potential risks in the second half of the year [17][18] - The tariff situation is viewed as manageable, with a projected direct cost impact of about $50 million for 2025 [14][15] - Management highlighted the importance of American farmers and the need for export markets to open up for North American grain and oilseeds [16] Other Important Information - Currency fluctuations posed a $90 million headwind on EBITDA, primarily due to the Turkish lira and Canadian dollar [24] - The company is on track for $1 billion in share repurchases in 2025 [34] - The first half of the year is expected to show stronger performance than initially anticipated, with net sales projected to be flat compared to the prior year [29] Q&A Session Summary Question: Risks in the second half of the year - Management acknowledged the risks but noted that the second half has been derisked since the February guidance, with expectations for crop protection in Brazil to match last year's strong performance [41][42] Question: Future growth potential in seed portfolio - Management emphasized ongoing excitement about the seed business, particularly in North America and Brazil, with significant opportunities in hybrid wheat and canola [55][60] Question: Pricing environment in crop protection - Management indicated that while pricing pressures are expected to continue, there are signs of stabilization in the market, particularly with generics from China [66][70] Question: Update on new growth platforms - Management confirmed that the launch of hybrid red winter wheat is still on track for 2027, with significant revenue potential [78][79] Question: Clarification on tariff impacts - Management clarified that the $50 million tariff impact is manageable and not included in the current guidance, as they are working on mitigation strategies [84][85]

1Q 2025 Earnings Conference Call May 8, 2025 Safe Harbor Regarding Forward-Looking Statements Forward-Looking Statements This presentation contains certain estimates and forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which are intended to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and may b ...

Core Insights - Corteva, Inc. reported revenue of $4.42 billion for the quarter ended March 2025, reflecting a decrease of 1.7% year-over-year and a surprise of -2.04% compared to the Zacks Consensus Estimate of $4.51 billion [1] - The company's EPS was $1.13, which is an increase from $0.89 in the same quarter last year, resulting in an EPS surprise of +29.89% against the consensus estimate of $0.87 [1] Revenue Breakdown - Crop Protection revenue was $1.71 billion, below the four-analyst average estimate of $1.77 billion, with a year-over-year decline of -1.8% [4] - Seed revenue reached $2.71 billion, also below the four-analyst average estimate of $2.77 billion, marking a year-over-year decrease of -1.6% [4] Operating EBITDA Performance - Operating EBITDA for Crop Protection was reported at $377 million, exceeding the three-analyst average estimate of $337.09 million [4] - Operating EBITDA for Seed was $842 million, surpassing the average estimate of $738.94 million based on three analysts [4] Stock Performance - Corteva, Inc. shares have returned +12.5% over the past month, outperforming the Zacks S&P 500 composite's +10.6% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Corteva, Inc. (CTVA) came out with quarterly earnings of $1.13 per share, beating the Zacks Consensus Estimate of $0.87 per share. This compares to earnings of $0.89 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 29.89%. A quarter ago, it was expected that this agriculture would post earnings of $0.34 per share when it actually produced earnings of $0.32, delivering a surprise of -5.88%. Over the last four quarters, the comp ...

A-1 Corteva, Inc. Consolidated Statements of Operations (Dollars in millions, except per share amounts) | | | | Three Months Ende March 31, | | | --- | --- | --- | --- | --- | | | | 2025 | | 202 | | Net sales | $ | 4,417 | $ | 4, | | Cost of goods sold | | 2,342 | | 2, | | Research and development expense | | 335 | | | | Selling, general and administrative expenses | | 751 | | | | Amortization of intangibles | | 162 | | | | Restructuring and asset related charges - net | | 22 | | | | Other income (expense) ...

Core Viewpoint - Corteva, Inc. reported a mixed performance in Q1 2025, with a slight decline in net sales but an increase in organic sales, driven by strong demand for its technology and cost discipline [5][6][7]. Financial Performance - Net sales for Q1 2025 were $4.42 billion, a decrease of 2% compared to Q1 2024, while organic sales increased by 3% [2][7]. - GAAP income from continuing operations was $667 million, with earnings per share (EPS) of $0.97 [2][7]. - Non-GAAP operating EBITDA was $1.19 billion, and operating EPS was $1.13 [2][7]. Segment Performance - Seed net sales were $2.71 billion, down from $2.75 billion in Q1 2024, impacted by a 4% unfavorable currency effect and a 1% decline in volume, partially offset by a 3% price increase [8][11]. - Crop Protection net sales were approximately $1.71 billion, a decrease from $1.74 billion in Q1 2024, driven by a 5% unfavorable currency impact and a 2% price decline, despite a 5% increase in volume [11][12]. Regional Performance - North America saw seed net sales increase by 6%, while EMEA experienced a 7% decline [4][7]. - Latin America faced a 14% decline in seed net sales, and Asia Pacific saw a 5% decrease [4][7]. Guidance and Outlook - The company reaffirmed its full-year 2025 guidance, expecting net sales between $17.2 billion and $17.6 billion, with operating EBITDA projected at $3.6 billion to $3.8 billion [6][17]. - Corteva anticipates double-digit earnings growth and continued margin expansion throughout 2025 [6][17]. Operational Highlights - The company emphasized its focus on cost discipline and operational excellence, which contributed to net cost reductions and margin expansion [5][6]. - Segment operating EBITDA for seeds was $842 million, up 13% from the previous year, while Crop Protection's operating EBITDA was $377 million, reflecting a 22% increase [10][13].

Core Viewpoint - Analysts forecast that Corteva, Inc. (CTVA) will report quarterly earnings of $0.87 per share, reflecting a year-over-year decline of 2.3%, with anticipated revenues of $4.51 billion, showing a slight increase of 0.4% compared to the previous year [1]. Earnings Estimates - The consensus EPS estimate for the quarter has been revised upward by 1.4% over the past 30 days, indicating a collective reassessment by analysts [2]. - Revisions to earnings estimates are crucial indicators for predicting investor actions regarding the stock, with empirical research showing a strong correlation between earnings estimate trends and short-term stock price performance [3]. Revenue Estimates - The consensus estimate for 'Revenue- Seed' is $2.77 billion, indicating a year-over-year change of +0.6% [5]. - 'Revenue- Crop Protection' is forecasted to reach $1.77 billion, reflecting a year-over-year increase of +1.6% [5]. - 'Revenue- Crop Protection- Other' is projected at $152.48 million, showing a decline of -18.5% from the previous year [5]. - 'Revenue- Seed- Other' is expected to be $129.31 million, with a year-over-year increase of +1.8% [6]. - 'Revenue- Crop Protection- Herbicides' is anticipated to reach $938.41 million, indicating a +5.9% change from the prior year [6]. - 'Revenue- Crop Protection- Insecticides' is estimated at $386.54 million, reflecting a +3.6% year-over-year change [6]. - 'Revenue- Crop Protection- Fungicides' is expected to be $286.60 million, indicating a -2.9% change year over year [7]. - 'Revenue- Seed- Soybean' is projected at $288.06 million, reflecting a -1.4% change from the previous year [7]. - 'Revenue- Seed- Corn' is estimated at $2.08 billion, showing a -0.2% change year over year [7]. - 'Revenue- Seed- Other oilseeds' is expected to be $258.09 million, indicating a +5.3% change from the prior year [8]. Operating Metrics - 'Operating EBITDA- Seed' is projected to reach $738.94 million, compared to $748 million in the same quarter last year [8]. - 'Operating EBITDA- Crop Protection' is expected to be $337.09 million, up from $310 million reported in the same quarter of the previous year [8]. Stock Performance - Shares of Corteva, Inc. have increased by +1.2% over the past month, contrasting with a -0.5% move of the Zacks S&P 500 composite [9].

Puna Bio received its initial funding in 2022, led by At One Ventures, a US venture firm with deep roots in Silicon Valley. The capital enabled the establishment of the company's first laboratory and growth of its core team. Argentina-based agricultural technology company specializing in biological solutions for regenerative agriculture to expand into new markets, fueled by new capital infusion BUENOS AIRES, Argentina, April 22, 2025 /PRNewswire/ -- Today Puna Bio announced that it had closed a new round of ...

After revisiting Corteva (NYSE: CTVA ) following its Q4 earnings and more importantly the recent macro events surrounding tariffs and commodity markets, I’m upgrading the stock from Buy to Strong Buy. While the core business fundamentals have not changed dramaticallyI am an investment professional with a background in both equity and real estate markets. I specialize in identifying long-only opportunities that offer safe and growing dividends, aiming to outperform the broader market on a risk-adjusted retur ...

Core Industry Insights - The Zacks Agriculture – Operations industry is benefiting from ongoing innovation and increasing consumer demand for health-focused products, particularly alternative proteins [1][2] - Advancements in food processing technologies, improved grain-handling methods, and expanded storage capacity are supporting industry momentum [2] - The U.S. Department of Agriculture projects agricultural exports of $170.5 billion for fiscal 2025, driven by stronger grain and feed exports [6] Company Highlights Mission Produce - Engaged in sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries, Mission Produce has optimized per-unit margins through effective integration of sales and sourcing operations [19][20] - The Zacks Consensus Estimate for Mission Produce's fiscal 2025 earnings has increased by 19% in the past 30 days, although sales and earnings are expected to decline by 6.6% and 32.4% respectively from the previous year [21] Corteva - Corteva is positioned for above-market growth through its innovative product pipeline and strong market demand for naturally derived products [22] - The Zacks Consensus Estimate for Corteva's 2025 earnings suggests growth of 1.7% and 15.2% respectively from the year-ago period [23] Dole - Dole is expected to benefit from improved logistical efficiencies and a healthier supply-demand balance, which has led to better pricing conditions in Europe [24] - The Zacks Consensus Estimate for Dole's 2025 earnings suggests a growth of 4.7% from the previous year [25] Adecoagro - Adecoagro operates in farming, dairy, sugar, ethanol, and energy production, benefiting from high asset flexibility in a volatile market [26] - The Zacks Consensus Estimate for Adecoagro's 2025 earnings suggests declines of 3.2% and 41.1% respectively from the previous year [27] Industry Challenges - The industry faces challenges such as fluctuating commodity prices, rising input costs, trade uncertainties, and increasing operational expenses, which impact productivity and profitability [3][11] - Companies are managing higher selling, general and administrative expenses due to performance-related compensation and technology investments [12] Market Performance - The Zacks Agriculture – Operations industry has underperformed the broader Zacks Consumer Staples sector and the S&P 500, with a collective decline of 12.2% over the past year [16] - The industry is currently trading at a forward P/E ratio of 13.34X, compared to the S&P 500's 20.05X and the sector's 17.18X [17]