INDIANAPOLIS (AP) — INDIANAPOLIS (AP) — Corteva, Inc. (CTVA) on Wednesday reported a loss of $524 million in its third quarter.
The Indianapolis-based company said it had a loss of 76 cents per share. Losses, adjusted for amortization costs and non-recurring costs, were 49 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 31 cents per share.
The agriculture posted revenue of $2.33 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $2.69 billion.
Corteva, Inc. expects full-year earnings in the range of $2.50 to $2.60 per share, with revenue in the range of $17 billion to $17.2 billion.