Corteva, Inc.: 4Q Earnings Snapshot
WILMINGTON, Del. (AP) _ Corteva, Inc. (CTVA) on Thursday reported a loss of $21 million in its fourth quarter.
On a per-share basis, the Wilmington, Delaware-based company said it had a loss of 3 cents. Earnings, adjusted for one-time gains and costs, came to 7 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The agriculture posted revenue of $2.98 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $2.83 billion.
For the year, the company reported a loss of $959 million, or $1.28 per share. Revenue was reported as $13.8 million.
Corteva, Inc. expects full-year earnings in the range of $1.45 to $1.55 per share, with revenue expected to be $14.5 billion.
Corteva, Inc. shares have dropped 6% since the beginning of the year.