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For the quarter ended June 2024, Corteva, Inc. (CTVA) reported revenue of $6.11 billion, up 1.1% over the same period last year. EPS came in at $1.83, compared to $1.60 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $6.1 billion, representing a surprise of +0.14%. The company delivered an EPS surprise of +5.17%, with the consensus EPS estimate being $1.74.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Corteva, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
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Revenue- Seed
: $4.33 billion versus the three-analyst average estimate of $4.36 billion. The reported number represents a year-over-year change of +1.6%.
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Revenue- Crop Protection
: $1.78 billion versus $1.79 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
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Revenue- Crop Protection- Other
: $170 million versus the two-analyst average estimate of $174.47 million. The reported number represents a year-over-year change of -19.8%.
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Revenue- Seed- Other
: $145 million compared to the $171.61 million average estimate based on two analysts. The reported number represents a change of +2.1% year over year.
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Revenue- Crop Protection- Herbicides
: $946 million compared to the $994.99 million average estimate based on two analysts. The reported number represents a change of -4.1% year over year.
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Revenue- Crop Protection- Insecticides
: $415 million versus the two-analyst average estimate of $424.78 million. The reported number represents a year-over-year change of +25.4%.
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Revenue- Crop Protection- Fungicides
: $250 million compared to the $301.89 million average estimate based on two analysts. The reported number represents a change of -0.8% year over year.
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Revenue- Seed- Soybean
: $1.32 billion versus $1.32 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.9% change.
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Revenue- Seed- Corn
: $2.68 billion versus $2.59 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.4% change.
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Revenue- Seed- Other oilseeds
: $186 million compared to the $225.09 million average estimate based on two analysts. The reported number represents a change of -4.1% year over year.
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Operating EBITDA- Seed
: $1.70 billion compared to the $1.54 billion average estimate based on three analysts.
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Operating EBITDA- Corporate
: -$36 million compared to the -$28.88 million average estimate based on three analysts.