Agricultural chemical maker’s 3Q results do not meet expectations

INDIANAPOLIS (AP) — Corteva Inc. (CTVA) on Wednesday reported a loss of $524 million in its third quarter.

The company based on the northwest side of Indianapolis said it had a loss of 76 cents per share. Losses, adjusted for amortization costs and nonrecurring 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 chemical manufacturer 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.

This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on CTVA at https://www.zacks.com/ap/CTVA