Corteva Inc

CTVA: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$12.00	Bqn	Jfxhcwqm

Corteva Earnings: Inventory Reset Weighs on Crop Protection Profits

Seth Goldstein

Nov 9, 2023

Corteva's detailed third-quarter results confirm our initial view that the company is likely to face a continued profit decline in 2023 due to an industrywide crop chemicals inventory reset. The company had released preliminary revised earnings expectations in late October. With our outlook unchanged, we maintain our $67 fair value estimate and wide moat rating.

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