NYSE$CTVA
Corteva Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Corteva's financial results for Q2 2023 were reported, with net sales decreasing by 3% and mixed performance across segments.
Corteva reported a decrease in net sales by 3% for the second quarter of 2023. While the Seed segment showed strong performance, it was offset by headwinds in the Crop Protection segment. The company has updated its full-year net sales and earnings guidance.
- Net sales decreased by 3% compared to the same period last year.
- Organic sales declined by 4%.
- Operating EBITDA increased by 2% compared to prior year.
- The company updated its full-year net sales and earnings guidance.
Headline financials
Revenue & EPS history
Corteva · Revenue · Quarterly
$6.05B
Revenue by segment
Corteva · $6.05B total across 2 segments · Q2 2023
- Seed$4.26B+8.0%70.5%
- Crop Protection$1.78B-22.7%29.5%
Forward guidance
Corteva expects net sales in the range of $17.9 billion to $18.2 billion, Operating EBITDA in the range of $3.50 billion to $3.65 billion and Operating EPS in the range of $2.75 to $2.90 per share.
Tailwinds
- High demand for grain and oilseeds.
- Commodity prices are above historical averages.
- Farm balance sheets and income levels remain healthy.
- Growers prioritize technology to maximize return.
Headwinds
- Crop Protection order patterns are being influenced by product availability.
- Higher interest rates.
- Deferral of purchases until closer to usage.
- Lowering sales expectations for this period.
- Lowering earnings expectations for this period.
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 2023
-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 | — | — | — |
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