INDIANAPOLIS (AP) — INDIANAPOLIS (AP) — Corteva, Inc. (CTVA) on Wednesday reported a loss of $253 million in its fourth quarter.
The Indianapolis-based company said it had a loss of 36 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 15 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The agriculture posted revenue of $3.71 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $3.54 billion.
For the year, the company reported profit of $735 million, or $1.03 per share. Revenue was reported as $17.23 billion.
Corteva, Inc. expects full-year earnings in the range of $2.70 to $2.90 per share, with revenue in the range of $17.4 billion to $17.7 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CTVA at https://www.zacks.com/ap/CTVA