🌱💹📈 Corteva Beats Q1 Profit Estimates On Strong Seed Pricing, Despite Global Sales Dip
🔹 Summary:
U.S. agrichemicals giant Corteva surpassed Wall Street’s Q1 profit expectations, posting $1.13 per share (vs. $0.88 forecast), fueled by strong seed price gains, particularly in North America.
While total sales dipped 2% to $4.42 billion due to regional weaknesses, stabilizing fertilizer markets and higher margins supported robust earnings growth.
🔹 Key Points:
• Seed segment core profit rose 13% YoY to $842M, led by North America.
• Total Q1 sales fell 2%, reflecting softness in Europe, Latin America, and Asia.
• Fertilizer market volatility is easing, lifting margins for producers.
• Adjusted operating profit of $1.13/share topped analysts’ $0.88/share estimate.
• Corteva’s performance signals resilience despite uneven global agricultural demand.
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