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Agriculture Giant Corteva Shows Seed Strength, Latin America Revenue Spikes 7%
Corteva, Inc. (NYSE:CTVA) shares are trading lower after the company reported second-quarter 2024 revenue results.:
Net sales of $6.11 billion missed the consensus of $6.159 billion.
Revenue:
North America rose by 2% Y/Y
EMEA declined by 6% Y/Y
Latin America increased by 7%
Asia Pacific fell 4% Y/Y in the quarter.
Volumes stayed flat compared to the previous year, as growth in Crop Protection countered a decline in Seed volumes.
Crop Protection volumes rose by 6% Y/Y, primarily due to increased demand for new products and spinosyns in Latin America and North America.
Seed volume declined 2% Y/Y due to earlier seasonal deliveries in North America, partly offset by the delayed season in EMEA into second quarter.
Operating EBITDA for the second quarter was $1.92 billion, reflecting a ...