Summary
Corteva, Inc. reported net sales of $16.9 billion for the year ended December 31, 2024, a 2% decrease compared to the prior year. This decline was primarily attributed to a 1% decrease in price and a 3% unfavorable currency impact, partially offset by a 2% increase in volume. The company's Seed segment saw a 1% increase in net sales, driven by price gains and volume growth in key regions like Brazil and North America. Conversely, the Crop Protection segment experienced a 5% decrease in net sales due to lower pricing and unfavorable currency impacts, despite a 3% volume increase. The company returned approximately $1.5 billion to shareholders through share repurchases and dividends in 2024. Corteva is focused on delivering innovative technology, accelerating innovation to farmers, and deploying capital with discipline. Despite a slight revenue dip, Corteva demonstrated resilience through operational execution and strategic investments, such as the acquisitions of Stoller and Symborg in the biologicals space. The company continues to manage its cost structure effectively, with COGS decreasing by $391 million year-over-year, largely due to favorable currency effects and productivity actions. Looking ahead, Corteva remains committed to its value creation framework and delivering differentiated solutions to farmers.
Financial Highlights
54 data points| Revenue | $16.91B |
| Cost of Revenue | $9.53B |
| Gross Profit | $7.38B |
| R&D Expenses | $1.40B |
| SG&A Expenses | $3.20B |
| Net Income | $907.00M |
| EPS (Basic) | $1.31 |
| EPS (Diluted) | $1.30 |
| Shares Outstanding (Basic) | 693.70M |
| Shares Outstanding (Diluted) | 696.00M |
Key Highlights
- 1Net sales for the year ended December 31, 2024, were $16.9 billion, a decrease of 2% from 2023.
- 2Seed segment net sales increased 1% to $9.5 billion, while Crop Protection segment net sales decreased 5% to $7.4 billion.
- 3Operating EBITDA was $3.4 billion, largely consistent with the prior year.
- 4The company returned approximately $1.5 billion to shareholders in 2024 through share repurchases and dividends.
- 5Corteva completed the acquisitions of Stoller Group Inc. and Quorum Vital Investment, S.L. (Symborg) in March 2023 to bolster its biologicals portfolio.
- 6The company's Crop Protection Operations Strategy Restructuring Program is expected to yield $180 million in savings by 2027.
- 7EIDP, Inc., a subsidiary of Corteva, identified a material weakness in internal control over financial reporting related to cash flow classification for intercompany transactions, leading to a restatement of its 2023 financial statements.