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Here's What Key Metrics Tell Us About Corteva, Inc. (CTVA) Q3 Earnings
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For the quarter ended September 2024, Corteva, Inc. (CTVA - Free Report) 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 -- 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: $691 million versus the four-analyst average estimate of $903.44 million. The reported number represents a year-over-year change of -21.3%.
Revenue- Crop Protection: $1.64 billion versus $1.76 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -4.5% change.
Revenue- Crop Protection- Other: $246 million versus the two-analyst average estimate of $188.06 million. The reported number represents a year-over-year change of -3.5%.
Revenue- Seed- Other: $77 million versus the two-analyst average estimate of $75.93 million. The reported number represents a year-over-year change of +28.3%.
Revenue- Crop Protection- Herbicides: $736 million compared to the $833.21 million average estimate based on two analysts. The reported number represents a change of -9.7% year over year.
Revenue- Crop Protection- Insecticides: $437 million compared to the $425.70 million average estimate based on two analysts. The reported number represents a change of +5.1% year over year.
Revenue- Crop Protection- Fungicides: $216 million versus $303.82 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -4.4% change.
Revenue- Seed- Soybean: $164 million versus $207.20 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -13.2% change.
Revenue- Seed- Corn: $315 million versus the two-analyst average estimate of $508.43 million. The reported number represents a year-over-year change of -35.3%.
Revenue- Seed- Other oilseeds: $135 million versus $126.35 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -4.9% change.
Operating EBITDA- Seed: -$320 million versus the four-analyst average estimate of -$174.45 million.
Operating EBITDA- Corporate: -$26 million versus the four-analyst average estimate of -$27.91 million.
Shares of Corteva, Inc. have returned +8.5% over the past month versus the Zacks S&P 500 composite's +0.7% 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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Here's What Key Metrics Tell Us About Corteva, Inc. (CTVA) Q3 Earnings
For the quarter ended September 2024, Corteva, Inc. (CTVA - Free Report) 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 -- 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: $691 million versus the four-analyst average estimate of $903.44 million. The reported number represents a year-over-year change of -21.3%.
- Revenue- Crop Protection: $1.64 billion versus $1.76 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -4.5% change.
- Revenue- Crop Protection- Other: $246 million versus the two-analyst average estimate of $188.06 million. The reported number represents a year-over-year change of -3.5%.
- Revenue- Seed- Other: $77 million versus the two-analyst average estimate of $75.93 million. The reported number represents a year-over-year change of +28.3%.
- Revenue- Crop Protection- Herbicides: $736 million compared to the $833.21 million average estimate based on two analysts. The reported number represents a change of -9.7% year over year.
- Revenue- Crop Protection- Insecticides: $437 million compared to the $425.70 million average estimate based on two analysts. The reported number represents a change of +5.1% year over year.
- Revenue- Crop Protection- Fungicides: $216 million versus $303.82 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -4.4% change.
- Revenue- Seed- Soybean: $164 million versus $207.20 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -13.2% change.
- Revenue- Seed- Corn: $315 million versus the two-analyst average estimate of $508.43 million. The reported number represents a year-over-year change of -35.3%.
- Revenue- Seed- Other oilseeds: $135 million versus $126.35 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -4.9% change.
- Operating EBITDA- Seed: -$320 million versus the four-analyst average estimate of -$174.45 million.
- Operating EBITDA- Corporate: -$26 million versus the four-analyst average estimate of -$27.91 million.
View all Key Company Metrics for Corteva, Inc. here>>>Shares of Corteva, Inc. have returned +8.5% over the past month versus the Zacks S&P 500 composite's +0.7% 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.