Core Insights - Corteva, Inc. reported revenue of $3.91 billion for the quarter ended December 2025, reflecting a 1.7% decline year-over-year and a surprise of -7.49% compared to the Zacks Consensus Estimate of $4.23 billion [1] - The company's EPS was $0.22, down from $0.32 in the same quarter last year, with a positive surprise of +3.14% over the consensus estimate of $0.21 [1] Revenue Performance - Crop Protection revenue was $2.17 billion, below the average estimate of $2.41 billion, marking a year-over-year decrease of -1.5% [4] - Seed revenue totaled $1.74 billion, also below the average estimate of $1.82 billion, with a year-over-year decline of -2% [4] - Revenue from Seed-Other oilseeds was $94 million, exceeding the estimate of $89.86 million, representing an increase of +8.1% year-over-year [4] - Crop Protection revenue from Biologicals was $191 million, slightly above the estimate of $186.79 million [4] - Herbicides revenue was $1.06 billion, below the estimate of $1.14 billion, but showed a year-over-year increase of +3% [4] - Insecticides revenue was $488 million, below the estimate of $557.11 million, reflecting a year-over-year change of -0.4% [4] - Fungicides revenue was $272 million, significantly below the estimate of $357.43 million, with a year-over-year decline of -15% [4] - Other Crop Protection revenue was $160 million, below the estimate of $213.87 million, representing a year-over-year decrease of -18.4% [4] - Seed revenue from Soybean was $164 million, exceeding the estimate of $155.13 million, with a year-over-year increase of +6.5% [4] - Seed revenue from Corn was $1.39 billion, slightly below the estimate of $1.41 billion, reflecting a -1.8% change year-over-year [4] - Seed revenue from Other was $93 million, significantly below the estimate of $138.89 million, with a year-over-year decline of -22.5% [4] - Operating EBITDA for Seed was $124 million, above the average estimate of $103.5 million [4] Stock Performance - Corteva, Inc. shares have returned +7.9% over the past month, outperforming the Zacks S&P 500 composite's +1.8% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Core Insights - Corteva, Inc. (CTVA) is expected to report quarterly earnings of $0.21 per share, reflecting a decline of 34.4% year-over-year, while revenues are forecasted to reach $4.23 billion, indicating a 6.3% increase compared to the previous year [1] Earnings Estimates - Over the last 30 days, the consensus EPS estimate has been revised downward by 3.3%, indicating a collective reassessment by analysts of their initial forecasts [2] - Revisions to earnings projections are crucial for predicting investor behavior, as empirical studies show a strong correlation between earnings estimate trends and short-term stock performance [3] Revenue Projections - Analysts estimate 'Revenue- Crop Protection' to be $2.42 billion, a year-over-year increase of 9.8% [5] - 'Revenue- Seed' is projected to reach $1.82 billion, reflecting a 2.6% increase year-over-year [5] - 'Revenue- Seed- Other oilseeds' is expected to be $89.86 million, indicating a 3.3% increase from the previous year [5] Segment Analysis - 'Revenue- Crop Protection- Herbicides' is forecasted at $1.14 billion, a 10.9% increase year-over-year [6] - 'Revenue- Crop Protection- Insecticides' is expected to reach $557.11 million, reflecting a 13.7% increase [6] - 'Revenue- Crop Protection- Fungicides' is projected at $357.43 million, indicating an 11.7% year-over-year change [6] Additional Revenue Insights - 'Revenue- Crop Protection- Other' is estimated at $213.87 million, a 9.1% increase year-over-year [7] - 'Revenue- Seed- Soybean' is expected to be $155.13 million, showing a slight increase of 0.7% [7] - 'Revenue- Seed- Corn' is projected to reach $1.41 billion, indicating a minor decline of 0.1% [7] Operating Metrics - 'Operating EBITDA- Seed' is expected to be $106.13 million, compared to $93.00 million from the previous year [8] - 'Operating EBITDA- Crop Protection' is projected at $430.49 million, down from $461.00 million year-over-year [8] Market Performance - Corteva, Inc. shares have returned +9% over the past month, outperforming the Zacks S&P 500 composite, which saw a +0.8% change [9] - The company holds a Zacks Rank 1 (Strong Buy), indicating expectations to outperform the overall market in the near future [9]

Fiscal First Quarter 2026 November 2025 BIOCERES CROP SOLUTIONS Disclaimer Industry and Market Data This Presentation is for informational purposes only and does not constitute an offer or invitation to sell, a solicitation of an offer to buy, or a recommendation to purchase any equity, assets, business, debt or other financial instruments of the Company or any of its affiliates, and shall not form the basis of any contract, nor shall it be construed in any manner as a commitment on the part of any person t ...

Core Insights - Corteva, Inc. reported $2.62 billion in revenue for Q3 2025, a year-over-year increase of 12.6%, with an EPS of -$0.23 compared to -$0.49 a year ago, exceeding the Zacks Consensus Estimate of $2.49 billion by 5.2% and delivering an EPS surprise of 53.06% [1] Revenue Breakdown - Seed revenue was $917 million, surpassing the estimated $765.33 million, reflecting a 32.7% increase year-over-year [4] - Crop Protection revenue totaled $1.7 billion, slightly below the estimated $1.76 billion, with a year-over-year increase of 4% [4] - Other Crop Protection revenue was $110 million, significantly lower than the estimated $149.2 million, showing a year-over-year decline of 55.3% [4] - Other Seed revenue was $38 million, below the estimated $75.13 million, representing a year-over-year decrease of 50.7% [4] - Herbicides revenue reached $813 million, slightly above the estimated $800.99 million, with a year-over-year increase of 10.5% [4] - Insecticides revenue was $409 million, below the estimated $447.85 million, reflecting a year-over-year decline of 6.4% [4] - Fungicides revenue was $222 million, below the estimated $272.74 million, with a year-over-year increase of 2.8% [4] - Soybean Seed revenue was $152 million, below the estimated $174.91 million, showing a year-over-year decline of 7.3% [4] - Corn Seed revenue was $586 million, exceeding the estimated $411.07 million, representing an 86% year-over-year increase [4] - Other oilseeds Seed revenue was $141 million, above the estimated $122.51 million, with a year-over-year increase of 4.4% [4] Operating Performance - Operating EBITDA for Seed was -$193 million, better than the estimated -$310.39 million [4] - Operating EBITDA for Corporate was -$37 million, slightly worse than the estimated -$29.64 million [4] Stock Performance - Corteva, Inc. shares returned -3.5% over the past month, while the Zacks S&P 500 composite increased by 2.1%, indicating potential underperformance relative to the broader market [3]

Financial Performance - For Q3 2025, net sales were $2.62 billion, a 13% increase compared to Q3 2024, while organic sales rose by 11% [10][14] - Year-to-date (YTD) net sales reached $13.49 billion, reflecting a 4% increase from 2024, with organic sales up 6% [5][14] - The company reported a loss from continuing operations of $308 million in Q3 2025, an improvement from a loss of $519 million in Q3 2024 [12][14] - Operating EBITDA for Q3 2025 was $49 million, a 149% increase year-over-year [12][14] Segment Performance - Crop Protection segment net sales for Q3 2025 were approximately $1.70 billion, up 4% from Q3 2024, driven by a 5% increase in volume [19][21] - Seed segment net sales were $917 million in Q3 2025, up from $691 million in Q3 2024, with a 27% increase in volume [15][21] - Crop Protection YTD net sales were approximately $5.33 billion, a 3% increase from the same period in 2024 [21][24] - Seed YTD net sales reached $8.16 billion, a 5% increase from 2024, with a 3% increase in price/mix and a 4% increase in volume [15][24] Strategic Initiatives - The company plans to separate into two independent public companies by the second half of 2026, with "New Corteva" focusing on crop protection and "SpinCo" on advanced genetics [7][8] - The separation is expected to enhance long-term value through tailored innovation and capital allocation strategies [6][13] - Full-year 2025 guidance has been raised, with net sales expected between $17.7 billion and $17.9 billion, and operating EBITDA projected between $3.8 billion and $3.9 billion [5][26] Market Outlook - The global agricultural outlook remains mixed, with strong demand but pressured commodity prices and farmer margins [25][26] - The company anticipates a large crop production year, with record demand leading to low global corn stock levels [25][26] - Global crop protection industry volumes have stabilized, with signs of price stabilization emerging [26]

Core Insights - Corteva, Inc. will release its third quarter 2025 earnings on November 4, 2025, after market close, with a live webcast presentation scheduled for November 5, 2025, at 9:00 a.m. Eastern Time [1][2] Company Overview - Corteva, Inc. is a global pure-play agriculture company focused on delivering innovative solutions to address significant agricultural challenges, leveraging a unique distribution strategy and a diverse mix of seed, crop protection, and digital products [3] - The company aims to maximize productivity for farmers while collaborating with stakeholders across the food system, ensuring sustainable progress for future generations [3]

Core Viewpoint - Corteva plans to separate into two independent, publicly traded companies: New Corteva (Crop Protection) and SpinCo (Seed) to enhance focus and growth opportunities for both segments [2][3][4] Company Overview - Corteva has established itself as a leader in the agriculture technology sector, focusing on innovation and operational excellence [4][6] - The separation aims to create two distinct market leaders, each with tailored capital allocation strategies and growth priorities [3][5] Strategic Rationale - The separation is seen as a logical step to maximize long-term value creation by allowing each business to focus on its own market dynamics and growth strategies [5][7] - New Corteva will emphasize differentiated, innovative solutions, particularly in the biologicals segment, which is the fastest-growing market area [6][8] Financial Projections - Estimated net sales for New Corteva in 2025 are projected to be $7.8 billion, accounting for 44% of Corteva's total net sales [6][10] - SpinCo is expected to generate $9.9 billion in net sales in 2025, representing 56% of Corteva's total net sales [10][17] Transaction Details - The separation is expected to be completed in the second half of 2026 and is intended to qualify as a tax-free transaction for U.S. federal tax purposes [6][10][11] - The transaction is subject to various conditions, including board approval and legal opinions regarding its tax-free nature [11] Leadership and Management - Current Corteva Chair Greg Page will lead New Corteva, while CEO Chuck Magro will head SpinCo, with full management teams to be announced later [3][4]

Financial Performance - Q2 2025 - Net sales increased by 6% to $6.456 billion compared to $6.112 billion in 2Q 2024[35] - Operating EBITDA increased by 13% to $2.164 billion with an Operating EBITDA margin of 33.5%, a 215 bps increase[35] - Operating EPS increased by 20% to $2.20[35] Financial Performance - 1H 2025 - Net sales increased by 3% to $10.873 billion compared to $10.604 billion in 1H 2024[20, 94] - Operating EBITDA increased by 14% to $3.353 billion with an Operating EBITDA margin of 30.8%, a 301 bps increase[20, 92] Segment Performance - Seed - Seed net sales for 2Q 2025 increased by 5% to $4.537 billion[38] - Seed Operating EBITDA margin for 2Q 2025 was 41.1%, an increase of 186 bps[38] - Seed net sales for 1H 2025 increased by 2% to $7.244 billion[50] - Seed Operating EBITDA margin for 1H 2025 was 37.3%, an increase of 280 bps[50] Segment Performance - Crop Protection - Crop Protection net sales for 2Q 2025 increased by 8% to $1.919 billion[60] - Crop Protection Operating EBITDA margin for 2Q 2025 was 17.4%, an increase of 309 bps[60] - Crop Protection net sales for 1H 2025 increased by 3% to $3.629 billion[69] - Crop Protection Operating EBITDA margin for 1H 2025 was 19.6%, an increase of 355 bps[69] FY 2025 Guidance - Revised Operating EBITDA guidance to $3.75 - $3.85 billion, a 13% increase at the mid-point[27] - Expecting ~150 bps improvement in Operating EBITDA margin[12, 27] - Operating EPS guidance revised to $3.00 - $3.20, a 21% increase at the mid-point[27] - Free Cash Flow Conversion expected to be ~50%[27]

Financial Performance - For Q2 2025, net sales reached $6.46 billion, a 6% increase compared to Q2 2024, with organic sales up 7% [11][8] - GAAP income from continuing operations was $1.38 billion, translating to an EPS of $2.02, while operating EBITDA was $2.16 billion, reflecting a 13% increase year-over-year [10][2] - For the first half of 2025, net sales totaled $10.87 billion, a 3% increase from the same period in 2024, with organic sales up 5% [7][2] Segment Performance - Seed segment net sales for Q2 2025 were $4.54 billion, up from $4.33 billion in Q2 2024, driven by a 3% increase in volume and a 3% increase in price [12][17] - Crop Protection segment net sales were approximately $1.92 billion in Q2 2025, reflecting an 11% increase in volume, although offset by a 2% price decline [20][21] - For the first half of 2025, Crop Protection net sales were approximately $3.63 billion, an 8% volume increase compared to the same period in 2024 [24][25] Market Outlook and Guidance - The company raised its full-year 2025 guidance, expecting net sales between $17.6 billion and $17.8 billion, with operating EBITDA projected at $3.75 billion to $3.85 billion [30][8] - The outlook for the Crop Protection market remains stable, with expectations of double-digit volume gains despite low-single-digit pricing headwinds [28][29] - Global corn area is projected to increase by 5% in North America, driven by favorable economics compared to other crops [27][8] Strategic Initiatives - The company plans to repurchase approximately $1 billion of shares during 2025, reflecting strong cash flow and balance sheet [6][30] - Continued focus on cost discipline and operational excellence has led to margin expansion and improved profitability [5][6] - The company emphasizes the importance of top-tier seed and crop protection technologies to meet global demand for grain and oilseeds [27][8]

Core Viewpoint - Analysts forecast that Corteva, Inc. (CTVA) will report quarterly earnings of $1.89 per share, reflecting a year-over-year increase of 3.3%, with anticipated revenues of $6.23 billion, showing a 1.9% increase compared to the previous year [1]. Earnings Estimates - The consensus EPS estimate has been revised upward by 3.1% in the past 30 days, indicating a reassessment by covering analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock performance [3]. Revenue Forecasts - Analysts predict 'Revenue- Seed' at $4.46 billion, a change of +3.1% year-over-year [5]. - 'Revenue- Crop Protection' is expected to be $1.80 billion, reflecting a +1% change from the prior year [5]. - 'Revenue- Crop Protection- Other' is forecasted to reach $88.17 million, indicating a significant decline of -48.1% year-over-year [5]. - 'Revenue- Seed- Other' is estimated at $168.43 million, showing a +16.2% increase from the previous year [6]. - 'Revenue- Crop Protection- Herbicides' is projected at $951.43 million, a slight increase of +0.6% [6]. - 'Revenue- Crop Protection- Insecticides' is expected to be $413.11 million, reflecting a -0.5% change [7]. - 'Revenue- Crop Protection- Fungicides' is forecasted at $261.53 million, indicating a +4.6% change [7]. - 'Revenue- Seed- Soybean' is estimated at $1.31 billion, showing a -0.4% change [7]. - 'Revenue- Seed- Corn' is projected at $2.74 billion, reflecting a +2% change [8]. - 'Revenue- Seed- Other oilseeds' is expected to reach $218.94 million, indicating a +17.7% change [8]. Operating Metrics - 'Operating EBITDA- Seed' is expected to be $1.77 billion, compared to $1.70 billion from the previous year [8]. - 'Operating EBITDA- Crop Protection' is projected at $249.65 million, down from $255.00 million reported in the same quarter last year [9]. Stock Performance - Corteva, Inc. shares have decreased by -6.5% in the past month, contrasting with the Zacks S&P 500 composite's +2.3% performance [10].