CORTEVA Reports 3.3% Decrease in Total Revenue for 2nd Quarter FY2023
August 15, 2023
🌥️Earnings Overview
CORTEVA ($NYSE:CTVA) revealed their second quarter earnings for FY2023 on June 30th, 2023, with total revenue of USD 6045.0 million and a 3.3% decrease from the same period in the prior year. Net income was USD 714.0 million, a 26.3% decrease from the same period in the previous year.
Analysis
GoodWhale has conducted an analysis of the financials of CORTEVA and has rated it as a high risk investment. GoodWhale has detected 3 risk warnings in the income sheet, balance sheet, and cashflow statement. These risk warnings indicate that investing in CORTEVA may not be the most secure option and could lead to financial losses. Therefore, investors should take extra precautions when investing in CORTEVA. To view the specific risk warnings, investors should register with GoodWhale to access the full report. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Corteva. CORTEVA_Reports_3.3_Decrease_in_Total_Revenue_for_2nd_Quarter_FY2023″>More…
| Total Revenues | Net Income | Net Margin |
| 17.53k | 923 | 8.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Corteva. CORTEVA_Reports_3.3_Decrease_in_Total_Revenue_for_2nd_Quarter_FY2023″>More…
| Operations | Investing | Financing |
| 6 | -1.74k | 2.08k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Corteva. CORTEVA_Reports_3.3_Decrease_in_Total_Revenue_for_2nd_Quarter_FY2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 44.19k | 17.73k | 36.95 |
Key Ratios Snapshot
Some of the financial key ratios for Corteva are shown below. CORTEVA_Reports_3.3_Decrease_in_Total_Revenue_for_2nd_Quarter_FY2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.7% | 38.4% | 8.1% |
| FCF Margin | ROE | ROA |
| -3.0% | 3.4% | 2.0% |
Peers
Corteva Inc is an American agriculture company that was formed in 2019. The company specializes in seed and crop protection products. Corteva Inc’s competitors include FMC Corp, Nutrien Ltd, and The Mosaic Co.
– FMC Corp ($NYSE:FMC)
FMC Corporation is a global leader in the agricultural sciences, providing products and services to the agricultural, industrial and consumer markets. The company’s products and services help growers increase yields, improve crop quality and protect crops from pests and disease. FMC’s products also improve the quality of food and other products made from crops.
– Nutrien Ltd ($TSX:NTR)
Nutrien Ltd is a Canadian fertilizer company with a market cap of 60.6B as of 2022. The company has a return on equity of 23.76%, meaning that it is a relatively profitable company. Nutrien produces and sells a variety of fertilizer products, including nitrogen, phosphate, and potash fertilizers. The company also owns and operates a number of mines and processing facilities around the world.
– The Mosaic Co ($NYSE:MOS)
The Mosaic Co is a leading producer and marketer of concentrated phosphate and potash crop nutrients. The company has a market cap of 17.51B as of 2022 and a Return on Equity of 24.22%. The company’s products are used by farmers to improve crop yield and quality. Mosaic is a publicly traded company listed on the New York Stock Exchange.
Summary
CORTEVA‘s second quarter earnings for FY2023 showed a decrease in revenue of 3.3% and net income of 26.3%, when compared to the same period of the previous year. Investors should closely monitor the company’s long-term performance and financials to get a better understanding of how CORTEVA is doing financially. Furthermore, investors should conduct an analysis of CORTEVA’s current strategy and management to see if the company is well-positioned for future success. Additionally, investors should consider risk factors such as competition in the industry, market saturation, and technological advancement, before making an investment decision.
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