NYSE$CTVA
Corteva Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Net sales and EPS increased, driven by volume and price gains, as well as the adoption of new technologies.
Corteva reported an 8% increase in net sales and a 36% increase in EPS for the second quarter of 2021. The company's performance was driven by strong demand for its innovative products, its ability to price for value, and its focus on execution.
- Net sales increased 8% versus the same period last year.
- Organic sales rose 6%, with increases in most regions.
- GAAP income from continuing operations after income taxes was $1.0 billion in second quarter 2021.
- Operating EBITDA for the second quarter was $1.46 billion, up 18% compared to the year-ago period.
Headline financials
Revenue & EPS history
Corteva · Revenue · Quarterly
$5.63B
Revenue by segment
Corteva · $5.63B total across 2 segments · Q2 2021
- Seed$3.78B+6.8%67.2%
- Crop Protection$1.85B+11.7%32.8%
Forward guidance
Corteva updated its previously provided guidance for the full year 2021 – increasing sales and earnings expectations for this period.
Tailwinds
- Corteva expects net sales in the range of $15.2 billion to $15.4 billion, which at the mid-point represents expected net sales growth of 8% for the year.
- The Company expects Operating EBITDA to be in the range of $2.5 billion to $2.6 billion, which at the midpoint represents expected Operating EBITDA growth of 22% for the year.
- Operating EPS is expected to be in the range of $2.00 and $2.10 per share.
- Strength of the Company’s global footprint evident in market share gains in key markets, notably Latin America in Brazil Safrinha corn and Europe in Crop Protection
- Driving execution on sustainable innovation, production efficiencies and transition to renewable energy sources
Headwinds
- Failure to obtain or maintain the necessary regulatory approvals for some Corteva’s products
- Effect of climate change and unpredictable seasonal and weather factors
- Effect of volatility in Corteva’s input costs
- Risks related to COVID-19
- Risks associated with our CEO transition, including failure to timely identify a successor CEO.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2021
-0.1%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+1.0%
Avg return
30 days after
59%
20 / 34 earnings
Positive
+18.0%
Q4 2023
Best reaction
-13.9%
Q4 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.8% | -3.5% | -8.1% | |
| Q4 2025 | +0.9% | -1.9% | +2.6% | |
| Q3 2025 | +1.8% | +4.9% | +5.6% | |
| Q2 2025 | -0.2% | +1.8% | +1.8% | |
| Q1 2025 | +7.0% | +8.7% | +14.7% | |
| Q4 2024 | -2.3% | -1.3% | -5.1% | |
| Q3 2024 | -5.0% | -5.2% | -3.7% | |
| Q2 2024 | -4.6% | -7.6% | +3.2% | |
| Q1 2024 | +5.3% | +4.1% | +3.3% | |
| Q4 2023 | +18.0% | +13.0% | +17.1% | |
| Q3 2023 | -9.7% | -8.1% | -8.4% | |
| Q2 2023 | +0.2% | -3.1% | -8.6% | |
| Q1 2023 | -6.2% | -5.0% | -7.8% | |
| Q4 2022 | -3.8% | -5.8% | -1.2% | |
| Q3 2022 | -2.3% | +0.4% | +0.6% | |
| Q2 2022 | +3.9% | +7.2% | +9.9% | |
| Q1 2022 | +1.4% | -7.3% | +8.3% | |
| Q4 2021 | +1.3% | +3.4% | +7.4% | |
| Q3 2021 | +10.6% | +8.6% | +7.5% | |
| Q2 2021 | +5.9% | +7.9% | +6.3% | |
| Q1 2021 | -4.1% | -1.7% | -7.5% | |
| Q4 2020 | +2.8% | +5.1% | +8.1% | |
| Q3 2020 | +3.1% | +5.2% | +17.4% | |
| Q2 2020 | -11.3% | -6.2% | +2.7% | |
| Q1 2020 | +1.0% | -6.9% | +17.1% | |
| Q3 2017 | +2.6% | +3.0% | -18.9% | |
| Q4 2017 | +2.6% | +3.0% | -18.9% | |
| Q4 2019 | +4.0% | +11.3% | -2.2% | |
| Q3 2018 | -4.7% | -6.6% | -5.3% | |
| Q3 2019 | -4.7% | -6.6% | -5.3% | |
| Q2 2018 | +2.5% | +5.8% | -4.8% | |
| Q2 2019 | +6.6% | +1.9% | -0.6% | |
| Q1 2019 | -13.9% | -2.7% | +2.7% | |
| Q4 2018 | -13.9% | -2.7% | +2.7% | |
| Q1 2018 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro