INDIANAPOLIS (AP) — Corteva Inc. (CTVA) on Wednesday reported a loss of $524 million in its third quarter.
The company based on the northwest side of Indianapolis said it had a loss of 76 cents per share. Losses, adjusted for depreciation and one-time costs, were 49 cents per share.
The results did not meet Wall Street’s expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 31 cents per share.
The agricultural chemicals maker reported revenue of $2.33 billion in the period, which also fell short of Street forecasts. Five analysts polled by Zacks expected $2.69 billion.
Corteva Inc. expects full-year earnings in the range of $2.50 to $2.60 per share, on revenue in the range of $17 to $17.2 billion.
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