Corteva, Inc. (CTVA) announced a profit for first quarter that decreased from last year but beat the Street estimates.
The company's bottom line totaled $419 million, or $0.60 per share. This compares with $595 million, or $0.83 per share, in last year's first quarter.
Excluding items, Corteva, Inc. reported adjusted earnings of $625 million or $0.89 per share for the period.
Analysts on average had expected the company to earn $0.84 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 8.0% to $4.49 billion from $4.88 billion last year.
Corteva, Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $419 Mln. vs. $595 Mln. last year.
-EPS (Q1): $0.60 vs. $0.83 last year.
-Revenue (Q1): $4.49 Bln vs. $4.88 Bln last year.
-Guidance:
Full year EPS guidance: $2.70 to $2.90
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