What Awaits Corteva (CTVA) In Its Debut Q2 Earnings Report?
Zacks Investment Research | Jul 29, 2019 09:18PM ET
Corteva, Inc. (NYSE:CTVA) , which recently got listed on NYSE, is slated to release second-quarter 2019 results on Aug 1, before market open. This global supplier of agricultural products is headquartered in Delaware. Corteva was spun-off from DowDupont on Jun 1, 2019 and is currently operating as an independent agricultural company.
Let’s look at the estimates.
The Estimates Picture
The Zacks Consensus Estimate for earnings in the second quarter is currently pegged at 74 cents per share. Further, the Zacks Consensus Estimate for revenues is currently pegged at $5,538 million.
Factors to Consider
Corteva is undertaking efforts to boost its digital capabilities and expedite the process of product launches. The company also focuses on improving margins and reducing costs. Notably, it expects to realize $1.2 billion of costs synergies by 2021. These efforts are expected to have driven the company’s top and bottom lines in the second quarter.
Further, the company is optimistic about the seeds market, where it expects solid growth over the next few years. It is poised to bring new products to the market, which should help capture the momentum in this market and boost the top line. The company stated that its recently launched products are performing better than market expectations. Encouragingly, it anticipates sales growth from new products to exceed $100 million in 2019. This may have a positive impact on the company’s forthcoming results.
Zacks Model
Our proven model shows that Corteva is likely to beat earnings estimates this quarter. A stock needs to have a positive Zacks Investment Research
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