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Corteva Delivers Strong 1Q 2025, Reaffirms 2025 Outlook
CortevaCorteva(US:CTVA) Prnewswireยท2025-05-07 20:30

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].