(Reuters) -U.S. agrichemicals company Corteva beat second-quarter profit estimates on Wednesday, helped by strong prices for its seeds.
Despite a pullback in global crop prices following improvements in supply, the U.S. corn and soybean production is expected to remain elevated this year amid favorable weather conditions.
Corteva’s net sales rose 1% to $6.11 billion, helped by a 2% rise in seed sales.
The company also named David Johnson as its new finance chief, effective September 16.
The Indianapolis-based company reported operating income of $1.83 per share for the three months ended June 30, compared with average analysts’ estimate of $1.73 per share, according to LSEG data.
(Reporting by Sourasis Bose in Bengaluru; Editing by Mohammed Safi Shamsi)
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