Thu, May 8, 9:03 PM (3 days ago)
### Corteva, Inc. (CTVA) Q1 2025 Financial Summary **Financial Health and Performance:** - **Revenue:** $4.417 billion, down 2% YoY due to a 5% unfavorable currency impact, partially offset by a 2% increase in volume and a 1% increase in price. - **Net Income:** $656 million, up from $423 million YoY. - **Earnings per Share (EPS):** $0.95, up from $0.60 YoY. - **Cash Flow:** Negative operating cash flow of $2.109 billion, primarily due to changes in accounts payable and deferred revenue. - **Debt:** Total debt of $4.083 billion, with significant short-term borrowings used to fund working capital needs, capital spending, dividends, and share repurchases. **Segment Performance:** - **Seed:** Revenue of $2.707 billion, down 2% YoY due to currency impacts and volume decreases in EMEA and Latin America. Segment EBITDA of $842 million, up 94 million YoY. - **Crop Protection:** Revenue of $1.710 billion, down 2% YoY due to currency impacts and price declines, partially offset by volume growth. Segment EBITDA of $377 million, up 67 million YoY. **Uncertainties and Future Operations:** - **Restructuring:** Ongoing restructuring in Crop Protection, with expected savings of $180 million by 2027. - **Share Buyback:** $3 billion share repurchase program authorized, with $270 million spent in Q1 2025. - **Legal and Environmental:** Significant legal and environmental liabilities, including PFAS remediation and various lawsuits, which may impact future financial performance. **Trends and Outlook:** - **Currency Impact:** Significant unfavorable currency impacts, particularly from the Brazilian Real, Turkish Lira, and Euro. - **Volume and Price:** Mixed volume trends with growth in North America and Brazil, offset by declines in EMEA and Latin America. Pricing pressures in Crop Protection due to competitive dynamics. - **Cash Management:** Focus on managing cash flows to fund operations, including working capital, capital expenditures, dividends, and share repurchases. **Future Operations Impact:** - **Cost Savings:** Expected savings from restructuring and productivity improvements. - **Legal and Environmental:** Potential impacts from ongoing legal and environmental matters, including PFAS remediation and lawsuits. - **Market Dynamics:** Continued focus on navigating competitive market dynamics and currency impacts. **Note:** This summary is based on the provided financial data and does not include all details from the full report. For a comprehensive understanding, refer to the complete financial statements and management's discussion.