NEW YORK - Corteva Inc. (NYSE:CTVA) reported fourth-quarter results in line with expectations on Thursday, but its shares fell 4.4% in after-hours trading as the agricultural chemicals company provided weaker-than-expected guidance for 2025.
The Indianapolis-based company posted adjusted earnings per share of $0.32 for the fourth quarter, matching analyst estimates. Revenue came in at $4 billion, slightly below the consensus forecast of $4.07 billion but up 7% YoY.
For the full year 2024, Corteva reported net sales of $16.9 billion, down 2% from 2023, while organic sales increased 1%. The company’s adjusted earnings per share for 2024 were $2.57, down 4% YoY.
Looking ahead, Corteva expects 2025 revenue between $17.2 billion and $17.6 billion, with the midpoint roughly in line with analyst expectations. However, the company’s 2025 earnings per share guidance of $2.70 to $2.95 fell short of the $3.19 consensus estimate.
CEO Chuck Magro commented on the outlook: "As we look ahead to 2025, we acknowledge the fluid macro environment but still see ag market fundamentals improving – specifically, we see continued record demand for core crops and recovering grain prices and farm margins."
The company plans to repurchase approximately $1 billion of shares in 2025.
Corteva’s fourth-quarter performance was boosted by strong volume gains across both its Seed and Crop Protection segments, particularly in Brazil. Seed sales rose 8% to $1.77 billion, while Crop Protection sales increased 6% to $2.21 billion.
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