Company profile

Ticker
CTAPRA
Exchange
Employees
Incorporated in
Location
Fiscal year end
SEC CIK
IRS number
510014090

Calendar

14 Feb 20
5 Apr 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Jun 19 Mar 19 Dec 18 Sep 18
Revenue 5.56B 3.4B 5.74B 5.29B
Net income -608M 85M -354M -4.96B
Diluted EPS -0.81 0.22
Net profit margin -10.94% 2.50% -6.17% -93.69%
Net change in cash -1.72B 1.53B -1.27B 840M
Cash on hand 2.08B 3.8B 2.27B 3.54B
Cost of revenue 3.05B 4.24B 3.98B 3.69B
Annual (USD) Dec 18 Dec 16 Dec 15 Dec 14
Revenue 26.28B 23.21B 23.66B 28.41B
Net income -5.03B 2.51B 1.95B 3.63B
Diluted EPS 2.85 2.16 3.92
Net profit margin -19.14% 10.83% 8.26% 12.76%
Operating income 6.36B
Net change in cash 378M -46M -243M
Cash on hand 2.27B 1.89B 1.94B 2.18B
Cost of revenue 18.18B 13.94B 15.11B 17.02B

Financial data from company earnings reports

Date Owner Security Transaction Code $Price #Shares $Value #Remaining
13F holders
Current Prev Q Change
Total holders 30 32 -6.3%
Opened positions 3 4 -25.0%
Closed positions 5 17 -70.6%
Increased positions 8 10 -20.0%
Reduced positions 13 13
13F shares
Current Prev Q Change
Total value 185.57M 178.13M +4.2%
Total shares 2.89M 2.5M +15.5%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Cibc World Markets 1.36M $87.04M +41.4%
Folger Nolan Fleming Douglas Capital Management 1.1M $70.9M -0.1%
Lau Associates 62.75K $4.03M 0.0%
Novare Capital Management 52.3K $3.36M -12.8%
Greenwich Wealth Management 40.81K $2.62M -0.1%
Wealth Enhancement Advisory Services 33.46K $2.15M +21.1%
Cheviot Value Management 32.55K $2.09M -6.5%
Asset Planning Services 27.64K $1.77M +16.6%
Cullinan Associates 26.91K $1.73M -39.4%
Bridge Creek Capital Management 24.37K $1.57M +3.0%
Largest transactions
Shares Bought/sold Change
Cibc World Markets 1.36M +396.74K +41.4%
UVSP Univest Financial 19.74K +19.74K NEW
Cullinan Associates 26.91K -17.48K -39.4%
Novare Capital Management 52.3K -7.7K -12.8%
Wealth Enhancement Advisory Services 33.46K +5.83K +21.1%
Baxter Bros 3.66K -4.19K -53.3%
Asset Planning Services 27.64K +3.93K +16.6%
Nelson Roberts Investment Advisors 0 -3.18K EXIT
Cheviot Value Management 32.55K -2.25K -6.5%
Sterling Investment Advisors 1.83K -2.11K -53.5%

Financial report summary

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Risks
  • The successful development and commercialization of Corteva’s pipeline products, including Enlist E3™ soybeans, will be necessary for Corteva’s growth.
  • Corteva participates in an industry that is highly competitive and has undergone consolidation, which could increase competitive pressures.
  • Corteva may not be able to obtain or maintain the necessary regulatory approvals for some of its products, including its seed and crop protection products, which could restrict its ability to sell those products in some markets.
  • Enforcing Corteva’s intellectual property rights, or defending against intellectual property claims asserted by others, could materially affect Corteva’s business, results of operations and financial condition.
  • Corteva’s business may be materially affected by competition from manufacturers of generic products.
  • Corteva is dependent on its relationships or contracts with third parties with respect to certain of its raw materials or licenses and commercialization.
  • The costs of complying with evolving regulatory requirements could negatively impact Corteva’s business, results of operations and financial condition. Actual or alleged violations of environmental laws or permit requirements could result in restrictions or prohibitions on plant operations, substantial civil or criminal sanctions, as well as the assessment of strict liability and/or joint and several liability.
  • The degree of public understanding and acceptance or perceived public acceptance of Corteva’s biotechnology and other agricultural products and technologies can affect Corteva’s sales and results of operations by affecting planting approvals, regulatory requirements and customer purchase decisions.
  • Changes in agricultural and related policies of governments and international organizations may prove unfavorable.
  • Corteva’s business, results of operations and financial condition could be adversely affected by industrial espionage and other disruptions to its supply chain, information technology or network systems.
  • Corteva’s sales to its customers may be adversely affected should a company successfully establish an intermediary platform for the sale of Corteva’s products or otherwise position itself between Corteva and its customers.
  • Volatility in Corteva’s input costs, which include raw materials and production costs, could have a significant impact on Corteva’s business, results of operations and financial condition.
  • Corteva may be unable to achieve all the benefits that it expects to achieve from the Internal Reorganization and future restructuring and other cost savings initiatives. Combining the agriculture businesses of EID and DAS may be more difficult, costly or time-consuming than expected, which may adversely affect Corteva’s results and negatively affect the value of Corteva common stock.
  • Corteva’s liquidity, business, results of operations and financial condition could be impaired if it is unable to raise capital through the capital markets or short-term debt borrowings.
  • Corteva’s customers may be unable to pay their debts to Corteva, which could adversely affect Corteva’s results.
  • Increases in pension and other post-employment benefit plan funding obligations may adversely affect Corteva’s results of operations, liquidity or financial condition.
  • Corteva’s business, results of operations and financial condition could be adversely affected by environmental, litigation and other commitments and contingencies.
  • Corteva’s operations outside the United States are subject to risks and restrictions, which could negatively affect Corteva’s business, results of operations and financial condition.
  • Climate change and unpredictable seasonal and weather factors could impact Corteva’s sales and earnings.
  • Corteva’s business may be adversely affected by the availability of counterfeit products.
  • Failure to effectively manage acquisitions, divestitures, alliances and other portfolio actions could adversely impact Corteva’s future results.
  • An impairment of goodwill or intangible assets could require Corteva to record a significant non-cash charge and negatively impact Corteva’s financial results.
  • The company may be unable to achieve some or all of the benefits that it expected to achieve from the Separation from DowDuPont.
  • In connection with the Separation the company has assumed, and agreed to indemnify DuPont and Dow for, certain liabilities. If the company is required to make payments pursuant to these indemnities, the company may need to divert cash to meet those obligations and its financial results could be negatively impacted. In addition, DuPont and Dow will indemnify Corteva for certain liabilities. These indemnities may not be sufficient to insure the company against the full amount of liabilities it incurs, and DuPont and/or Dow, and/or their historical separated businesses, may not be able to satisfy their indemnification obligations in the future.
  • The Separation and related transactions may expose Corteva to potential liabilities arising out of state and federal fraudulent conveyance laws
  • If the Corteva Distribution, together with certain related transactions, were to fail to qualify for non-recognition treatment for U.S. federal income tax purposes, then the company could be subject to significant tax and indemnification liability and stockholders receiving Corteva common stock in the Corteva Distribution could be subject to significant tax liability.
  • The company agreed to numerous restrictions to preserve the tax-free treatment of the transactions separating it from DowDuPont in the United States, which may reduce Corteva’s strategic and operating flexibility.
  • The IRS may assert that the Merger causes the Distributions and other related transactions to be taxable to DuPont, in which case the company could be subject to significant indemnification liability.
  • The company is subject to continuing contingent tax-related liabilities of DowDuPont following the Distribution.
  • Restrictions under the intellectual property cross-license agreements limit Corteva’s ability to develop and commercialize certain products and services and/or prosecute, maintain and enforce certain intellectual property.
  • Neither Corteva’s financial information nor its unaudited pro forma combined financial information are necessarily representative of the results the company would have achieved as an independent, publicly traded company and may not be a reliable indicator of its future results.
Management Discussion
  • Net sales were $13,846 million for the year ended December 31, 2019, compared to $14,287 million for the year ended December 31, 2018. The decrease was primarily driven by a 3 percent decline in currency. Unfavorable currency impacts were primarily driven by the Brazilian Real and the Euro. Volume was flat as strong demand for new product and gains in corn in EMEA were offset by significant weather-related planting delays in North America, resulting in lost spring applications of crop protection products and a reduction in planted area for soybeans. Pricing gains from new product launches and favorable mix in Latin America were offset by competitive pricing pressure, increases in replant, and increased grower incentive program discounts in North America.
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