Corteva, Inc. - CTVA STOCK NEWS

Corteva, Inc. (NYSE: CTVA) has authorized a new $2 billion share repurchase program, effective immediately and without expiration. This addition comes on top of the existing $1.5 billion program, which had $650 million remaining as of June 30, 2022. The company plans to repurchase shares in open-market or private transactions, contingent on market conditions. CEO Chuck Magro emphasized the Board's confidence in Corteva's future and its commitment to returning capital to shareholders, alongside a recent dividend increase that symbolizes a robust financial foundation.

Corteva Agriscience (NYSE: CTVA) is set to hold its Investor Day on September 13, 2022, from 9:00 a.m. to 12 p.m. EDT. CEO Chuck Magro and senior leaders will discuss the company’s strategy, technology pipeline, and financial framework. Key executives include Dave Anderson, Sam Eathington, Tim Glenn, and Robert King. The event will be webcast, with registration available on the Corteva Investor Day webpage. A replay will also be accessible afterward, highlighting Corteva's commitment to agricultural innovation and solutions.

Corteva Agriscience and BASF announced a long-term collaboration for innovative soybean weed management. By cross-licensing new traits and complementary herbicides, the companies aim to enhance options for herbicide-tolerant soybeans by the early 2030s. This collaboration targets problematic weeds through a trait stack that includes tolerance to multiple herbicides, ultimately seeking to capture a share of the global $7.1 billion soybean seeds and $5 billion herbicide markets. The new soybean varieties are expected to launch in North America pending regulatory approval.

Corteva (CTVA) reported strong Q2 and H1 2022 results, with net sales of $6.25B in Q2, up 11% year-over-year. Income from continuing operations was $1.00B with EPS at $1.37, reflecting a 2% decline from Q2 2021. For H1 2022, net sales reached $10.85B, also up 11%. The company raised its full-year guidance, expecting net sales between $17.2B and $17.5B. A restructuring program aims for more than $200M in savings by 2025. A dividend increase of ~7% is effective Q3 2022.

Corteva (NYSE: CTVA) announced a dividend increase of $0.01 to $0.15 per share, representing a 7.4% annualized increase over the previous dividend. The new dividend will be payable on September 15, 2022, to shareholders of record by August 12, 2022. This increase reflects the company’s commitment to returning value to its shareholders while maintaining a balanced approach to growth and investment.

2Blades and Corteva Agriscience have achieved a significant milestone in their collaboration aimed at developing a transgene for resistance against Asian Soybean Rust (ASR) in Latin American soybean varieties. Successful field trials demonstrated effective disease resistance, crucial for mitigating yield losses ranging from 10-80% caused by ASR. This advancement enhances disease management strategies for farmers in the region, promoting sustainable agricultural practices. The partnership, ongoing since 2013, combines both organizations' expertise to bolster soybean productivity and resilience.

Corteva, Inc. (NYSE: CTVA) will release its second quarter 2022 earnings on August 4, 2022, after market close. A live webcast of the earnings conference call is scheduled for August 5, 2022, at 9:00 a.m. ET. Investors can access the presentation slides on the Company's Investor Events and Presentations page, with a replay available until August 5, 2023. Corteva is a global agriculture company focused on delivering innovative solutions to agriculture challenges.

Corteva Agriscience, BASF, and MS Technologies have announced a licensing agreement to develop next-generation Enlist E3 soybeans featuring a nematode resistant soybean (NRS) trait. This new trait aims to significantly enhance soybean yield by providing superior protection against nematode pests, particularly the soybean cyst nematode (SCN), which causes over $1 billion in annual losses for U.S. farmers. The companies expect commercialization in the late 2020s, pending regulatory approvals. The partnership enhances farmers' capabilities to manage weed and pest resistance effectively.

Corteva (NYSE: CTVA) is set to hold an Investor Day on September 13, 2022, at its Johnston, Iowa Business Center. The event will feature key updates on the company's strategy, technology pipeline, and financial framework. Presentations will occur from 9 a.m. to Noon Eastern Time, including contributions from CEO Chuck Magro and other senior executives. Interested parties can register for the webcast on the Investor Relations website, with a replay available afterward. This event underscores Corteva’s commitment to addressing global agricultural challenges.