Recap: Corteva Q3 Earnings
Portfolio Pulse from Benzinga Insights
Corteva (NYSE:CTVA) reported its Q3 earnings results, with an in-line EPS of $-0.23, matching the estimate. However, revenue was down $187.00 million from the same period last year. Last quarter, the company beat on EPS by $0.02, which was followed by a 0.59% increase in the share price the next day. Corteva management provided guidance for Q3 2023, expecting earnings between $-0.23 and $-0.23 per share.
November 08, 2023 | 9:40 pm
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NEUTRAL IMPACT
Corteva's Q3 earnings were in line with estimates, but revenue was down from last year. The company's past performance shows a positive correlation between EPS beats and share price increases.
Corteva's earnings were in line with estimates, which typically doesn't cause significant stock price movement. However, the decrease in revenue could negatively impact investor sentiment. The company's past performance shows that beating EPS estimates can lead to a share price increase, but this quarter's results were in line with estimates, not a beat. Therefore, the impact on the stock price is likely to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100