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![Corteva, Inc. [CTVA] reports quarterly net loss of $423 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FCTVA.png&w=1200&q=75)
Corteva, Inc. [CTVA] has reported a net loss Net income of $423 million for quarter ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue Net Sales for the quarter was $4.5 billion
Based in Indianapolis, Indiana, Corteva, Inc. operates in the AGRICULTURE sector.
In the consolidated statements of operations for Corteva, comparing the 3 months ended March 31, 2024, with the same period in 2023, the following key financial figures were observed (all amounts are in millions of USD):
- Net Sales: In 2024, net sales amounted to $4,492 million, a decrease from $4,884 million in 2023.
- Cost of Goods Sold: The cost of goods sold was reported at $2,550 million in 2024, down from $2,771 million in 2023.
- Net Income: Net income for 2024 stood at $423 million, a decline from $599 million in 2023.
- Earnings per Share: For basic earnings per share of common stock in 2024, it was $0.60, compared to $0.84 in 2023. Diluted earnings per share of common stock in 2024 were $0.60, a decrease from $0.83 in 2023.
Moreover, in the EID [Member] segment, the interest expense for 2024 was $41 million, compared to $44 million in 2023.
Overall, Corteva experienced a decrease in net sales, cost of goods sold, net income, and earnings per share in the first quarter of 2024 compared to the same period in 2023. These financial results indicate some challenges faced by the company in the current reporting period.
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