Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-38710 Corteva, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 82-4979 ...

Financial Data and Key Metrics Changes - Corteva reported organic sales down 5% year-over-year in Q3 2024, with crop protection up 1% and seed down 17% [20] - Operating EBITDA for the year-to-date is approximately $2.9 billion, down 5% compared to the prior year, with an operating EBITDA margin of 22%, essentially flat year-over-year [23][24] - The updated full-year guidance reflects net sales in the range of $17 billion to $17.2 billion, down 1% at the midpoint compared to the prior year [26] Business Line Data and Key Metrics Changes - The seed business delivered a strong performance with approximately $175 million in controllable benefits year-to-date, despite a 12% decline in seed volumes primarily due to reduced corn area in Argentina [8][20] - Crop protection volumes were up 11%, led by Latin America and North America, with new crop protection products seeing volume increases of over 20% [21][10] - Year-to-date, seed organic sales were up 1% with pricing up 4%, while crop protection organic sales were down 7% with pricing down 5% [22] Market Data and Key Metrics Changes - The agricultural markets remain mixed, with record demand for food and fuel, but competitive market dynamics are expected to continue into next year [11] - The crop protection market has turned a corner in every major market except Brazil, where conditions remain challenging [11] - In 2025, total area planted by farmers in the U.S. is expected to be nearly flat year-over-year, with Brazil showing a mid-single-digit increase for corn and soybeans [15] Company Strategy and Development Direction - Corteva is committed to focusing on differentiated and new technologies that warrant a premium in the market, with over 150 crop protection registration approvals year-to-date [10] - The company anticipates a continuation of record demand for grain, oilseeds, meat, and biofuels, with farmers prioritizing top-tier technologies to maximize yields [14] - The strategic shift from being a technology buyer to a technology seller is seen as a long-term growth opportunity for Corteva [56] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the stabilization of the crop protection industry, particularly in North America, while acknowledging ongoing challenges in Brazil [86] - The company expects to achieve double-digit earnings growth and margin expansion in 2025, driven by controllable factors and new product introductions [84] - Management highlighted the importance of the upcoming Investor Day for providing further insights into growth strategies and market conditions [40] Other Important Information - Corteva is on track to deliver $1.5 billion to $2 billion in free cash flow for the year, along with $1 billion in share repurchases [38] - A new Executive Vice President for the seed business will be appointed, with Judd O'Connor succeeding Tim Glenn [43][44] Q&A Session Summary Question: Breakdown of $150 million inflation and other costs - David Johnson indicated that about two-thirds to 75% of the $150 million is in the seed business, primarily related to trade transition costs, with the remainder attributed to inflation [48][49] Question: Guidance for seed cost deflation and CPC cost deflation - Chuck Magro noted that the guidance reflects a gross benefit of $600 million driven by cost management and productivity, with deflation accounting for about half of that [54][55] Question: Impact of deferred seed sales from Q3 to Q4 - Tim Glenn clarified that the reduction in Argentina is not a deferral but a permanent loss due to a 20% area reduction, while Brazil's summer sales are expected to be impacted as well [60][62] Question: Seed royalties expectations for next year - Chuck Magro expressed confidence in the journey to royalty neutrality, indicating that the preliminary view for next year is slightly less than the average of about $100 million [66][67] Question: Pricing environment for crop chemicals in Brazil - Robert King explained that Brazil's pricing was down about 18% for the quarter due to competition, but the company expects to finish the year in the mid-single digits for price [96][99]

| --- | --- | |-------|-----------------------------------| | | | | | 3Q 2024 Earnings Conference Call | | | November 7, 2024 | Safe Harbor Regarding Forward-Looking Statements 2 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 st ...

For the quarter ended September 2024, Corteva, Inc. (CTVA) reported revenue of $2.33 billion, down 10.2% over the same period last year. EPS came in at -$0.49, compared to -$0.23 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $2.69 billion, representing a surprise of -13.39%. The company delivered an EPS surprise of -58.06%, with the consensus EPS estimate being -$0.31.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings - ...

Corteva, Inc. (CTVA) came out with a quarterly loss of $0.49 per share versus the Zacks Consensus Estimate of a loss of $0.31. This compares to loss of $0.23 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -58.06%. A quarter ago, it was expected that this agriculture would post earnings of $1.74 per share when it actually produced earnings of $1.83, delivering a surprise of 5.17%.Over the last four quarters, the company has su ...

A-1 Corteva, Inc. Consolidated Statements of Operations (Dollars in millions, except per share amounts) | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------|-------|------------------------------------------|--------|-------|--------|----------------------------------|--------| | | | Three Months Ended September 30, \n2024 | 2023 | | 2024 | Nine Months Ended September 30, | 2023 | | Net sales | $ | 2,326 $ ...

3Q YTD performance reflects Seed price / mix gains and ongoing benefits from controllables 3Q results and Full Year 20243 impacted by Latin America planted area and market dynamics Preliminary 2025 outlook3 for strong Operating EBITDA1 growth and margin expansion INDIANAPOLIS, Nov. 6, 2024 /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) ("Corteva" or the "Company") today reported financial results for the third quarter and nine months ended September 30, 2024. Chuck Magro, Chief Executive Officer 3Q  2 ...

Wall Street analysts forecast that Corteva, Inc. (CTVA) will report quarterly loss of $0.31 per share in its upcoming release, pointing to a year-over-year decline of 34.8%. It is anticipated that revenues will amount to $2.69 billion, exhibiting an increase of 3.7% compared to the year-ago quarter. The consensus EPS estimate for the quarter has undergone an upward revision of 4.8% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed t ...

INDIANAPOLIS, Oct. 15, 2024 /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) announced today that it has appointed Judd O'Connor as its new Executive Vice President (EVP) of its Seed Business Unit, effective December 1, 2024. He will succeed Tim Glenn, current Corteva EVP, Seed Business Unit, who will serve as a Strategic Advisor to the executive leadership team until his retirement in the first quarter of 2025, allowing for a seamless transition. O'Connor, a 25-year veteran of Corteva and its heritage companies, ...

INDIANAPOLIS, Sept. 23, 2024 /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) announces that Chief Executive Officer, Chuck Magro, will speak at the 2024 BMO Ag-Apalooza event at 12:00 p.m. Eastern Time on Tuesday, September 24, 2024. Remarks will be webcast live. The webcast can be accessed through the Corteva Investor Relations website. A replay of the presentation will be available 24 hours after the presentation ends and will be accessible until October 24, 2024. About Corteva Corteva, Inc. (NYSE: CTVA) is a ...