Corteva Inc

NYSE:CTVA   3:59:58 PM EDT
60.83
-0.69 (-1.12%)
Products

Corteva - To Exit Countries That Represent Roughly $800 Million In Annual Revenue

Published: 09/13/2022 17:34 GMT
Corteva Inc (CTVA) - Plans to Invest About 8% of Sales in Research and Development and Innovation Through 2025 - Conf.
Call.
Sees 21% to 23% EBITDA Margin in 2025.
Expects to Deliver About $400 Million in Savings Through 2025.
Will Narrow Seeds Business Focus to Corn and Soybean.
Sees 2025 Net Sales Between $19.5 Billion and $20.5 Billion.
Sees 2025 Operating EBITDA Between $4.1 Billion and $4.7 Billion.
Sees 2025 Operating EPS Between $3.70 and $4.35.
Targets Royalty Neutrality by End of Decade.
Sees 2022 Seed Unit Net Sales of $8.8 Billion.
Sees 2022 Crop Protection Unit Net Sales of $8.5 Billion.
Will Simplify Business to Focus on Five Core Crop Groups.
Will Focus on Fruit & Vegetables, Soy, Cereals, Corn and Rice.
To Continue to Rightsize Manufacturing Footprint and Supply Chain Structure - Cfo.
Expects 5% of Global Workforce to Be Impacted by Cost-savings Actions.
Will Simplify Business to Focus on About 110 Countries and Territories From 140.
Expects Normalization of Crop Prices in 2024 and 2025.
Expects Inflationary Pressures to Be Lesser in 2023 Than in 2022, But Still Significant.
Says to Exit Countries That Represent Roughly $800 Million in Annual Revenue.
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