Corteva Reports Q1 2024 Results

TL;DR

Corteva Q1 sales hit $1.67B, check the 10-Q for deets.

AI Summary

Corteva, Inc. filed its 10-Q for the period ending March 31, 2024. The company reported net sales of $1.67 billion for the first quarter of 2024. This filing details their financial performance and operational updates for the period.

Why It Matters

This 10-Q filing provides investors with a detailed look at Corteva's financial health and operational performance in the first quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: medium — As a publicly traded company, Corteva faces inherent market and operational risks detailed in its SEC filings.

Key Numbers

• $1.67B — Net Sales (First quarter of 2024)
• $701.3M — Cost of Sales (First quarter of 2024)
• 4,807 — Employees (As of March 31, 2024)

Key Players & Entities

• Corteva, Inc. (company) — Filer
• EIDP, Inc. (company) — Related Filer
• DUPONT E I DE NEMOURS & CO (company) — Former Company Name
• $1.67 billion (dollar_amount) — Q1 2024 Net Sales
• March 31, 2024 (date) — Reporting Period End Date

FAQ

From the Filing

0001755672-24-000013.txt : 20240502 0001755672-24-000013.hdr.sgml : 20240502 20240502142420 ACCESSION NUMBER: 0001755672-24-000013 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 127 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240502 DATE AS OF CHANGE: 20240502 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Corteva, Inc. CENTRAL INDEX KEY: 0001755672 STANDARD INDUSTRIAL CLASSIFICATION: AGRICULTURE PRODUCTION - CROPS [0100] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 824979096 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-38710 FILM NUMBER: 24907272 BUSINESS ADDRESS: STREET 1: 9330 ZIONSVILLE ROAD CITY: INDIANAPOLIS STATE: IN ZIP: 46268 BUSINESS PHONE: (833) 267-8382 MAIL ADDRESS: STREET 1: 9330 ZIONSVILLE ROAD CITY: INDIANAPOLIS STATE: IN ZIP: 46268 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EIDP, Inc. CENTRAL INDEX KEY: 0000030554 STANDARD INDUSTRIAL CLASSIFICATION: PLASTIC MATERIAL, SYNTH RESIN/RUBBER, CELLULOS (NO GLASS) [2820] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 510014090 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-00815 FILM NUMBER: 24907273 BUSINESS ADDRESS: STREET 1: 9330 ZIONSVILLE ROAD CITY: INDIANAPOLIS STATE: IN ZIP: 46268 BUSINESS PHONE: 8332678382 MAIL ADDRESS: STREET 1: 9330 ZIONSVILLE ROAD CITY: INDIANAPOLIS STATE: IN ZIP: 46268 FORMER COMPANY: FORMER CONFORMED NAME: DUPONT E I DE NEMOURS & CO DATE OF NAME CHANGE: 19920703 10-Q 1 ctva-20240331.htm 10-Q ctva-20240331 3/31/2024 3/31/2024 10-Q 10-Q false false March 31, 2024 March 31, 2024 0001755672 0000030554 December 31 December 31 2024 2024 Q1 Q1 Large Accelerated Filer Non-Accelerated Filer False False False False False True 0.01 0.01 0.01 1,666,667,000 1,666,667,000 1,666,667,000 697,800,000 701,260,000 710,678,000 4,807 4,669 4,362 0.15 0.14 1 120 120 120 102 102 102 23,000 23,000 1,673 1,673 700 700 23,000 23,000 23,000 http://fasb.org/us-gaap/2023#OtherAssetsCurrent http://fasb.org/us-gaap/2023#OtherAssetsCurrent http://fasb.org/us-gaap/2023#OtherAssetsCurrent http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#OtherAssetsCurrent http://fasb.org/us-gaap/2023#OtherAssetsCurrent http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#OtherAssetsCurrent http://fasb.org/us-gaap/2023#OtherAssetsCurrent http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2023#CostOfGoodsAndServicesSold SUBSEQUENT EVENTSIn April 2024, the company entered into a committed receivable repurchase facility of up to XX (the "2024 Repurchase Facility"), which expires in December 20XX. Under the 2024 Repurchase Facility, Corteva may sell a portfolio of available and eligible outstanding customer notes receivables to participating institutions and simultaneously agree to repurchase at a future date. The 2024 Repurchase Facility is considered a secured borrowing with the customer notes receivables inclusive of those that are sold and repurchased, equal to XX of the outstanding amounts borrowed utilized as collateral. Borrowings under the 2024 Repurchase Facility have an interest rate equal to the Adjusted Term Secured Overnight Financing Rate ("SOFR"), which is Term SOFR plus XX, plus the margin. 0.30 0.30 0.30 1,800,000,000 1,800,000,0