Corteva, Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - 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