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Corteva Inc Up 5.02% To $57.99 After Earnings Beat

Friday, August 05, 2022 12:34 PM | InvestorsObserver Analysts
Corteva Inc Up 5.02% To $57.99 After Earnings Beat

Corteva Inc (CTVA) said after close Thursday that it earned $1.64 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $6.3 billion, beating estimates by $150 million.

In the same quarter a year ago, the company earned $1.4 per share on revenue of $5.6 billion.

The stock is up 5.02% to $57.99 after the report.

Corteva Inc's earnings expanded faster than revenues, signaling widening profit margins.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 73. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Corteva was formed in 2019 as the agriculture division of the DowDuPont merger and subsequent separation. The company is a leader in the development of new seed and crop chemicals products. Seeds generate a little over half of total company profits and crop protection chemicals make up the remainder. Although Corteva operates globally, around half of revenue comes from North America.

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