INDIANAPOLIS (AP) _ Corteva, Inc. (CTVA) on Wednesday reported a fourth-quarter loss of $55 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Indianapolis-based company said it had a loss of 8 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 16 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The agriculture posted revenue of $3.83 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $3.82 billion.
For the year, the company reported profit of $1.15 billion, or $1.58 per share. Revenue was reported as $17.45 billion.
Corteva, Inc. expects full-year earnings in the range of $2.70 to $2.90 per share, with revenue in the range of $18.1 billion to $18.4 billion.
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