INDIANAPOLIS (AP) — INDIANAPOLIS (AP) — Corteva, Inc. (CTVA) on Tuesday reported a loss of $552 million in its fourth quarter.
The Indianapolis-based company said it had a loss of 82 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 22 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The agriculture posted revenue of $3.91 billion in the period, which missed Street forecasts. Seven analysts surveyed by Zacks expected $4.23 billion.
For the year, the company reported profit of $1.09 billion, or $1.60 per share. Revenue was reported as $17.4 billion.
Corteva, Inc. expects full-year earnings in the range of $3.45 to $3.70 per share.
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