CTVA - Corteva Stock Trades Higher Following Earnings Call | Benzinga
Corteva, Inc. (NYSE:CTVA) shares are trading higher Thursday after the company reported its fourth-quarter financial results and announced a $1 billion repurchase plan.
The Details:
Corteva reported quarterly adjusted earnings of 15 cents per share, beat the analyst estimates of six cents and representing a 6.25% decrease over earnings of 16 cents per share year-over-year.
The company reported quarterly sales of $3.71 billion, representing a 3.08% decrease from sales of $3.83 billion year-over-year.
Additionally, Corteva announced plans to repurchase approximately $1 billion shares in 2024.
“Corteva’s 2023 results reflect the execution of our value creation strategy, including its focus on productivity, differentiated product mix, and cost discipline. This, alongside a stand-out performance from our seed business, allowed us to deliver growth in earnings, cash and margin despite ...