Corteva unveils financial framework through 2027

At its 2024 Investor Day, Corteva (CTVA) outlined its strategy to continue to deliver value to shareholders by helping the world address three global challenges: food security, driven by a growing global population coupled with finite arable land; climate change and the resulting intensification of extreme weather and pressures from insects, weeds and diseases; and the energy transition away from fossil fuels, leading to increased demand for biofuels. The company also unveiled a new financial framework through 2027: $1B in incremental net sales from growth platforms, ~$1B in cost deflation and productivity benefits and roughly $4.5 B in shareholder returns. Core to this framework will be the company’s six growth platforms, also announced today: Seed and trait out-licensing, to strengthen the company’s target to be royalty-neutral by the end of 2028; Biologicals, targeting $1B in annual revenues by the end of the decade, harnessing the power of nature to sustainably, effectively increase yields; New Crop Protection technologies, to keep pace with the growing pressures of insects, weeds and diseases; Gene editing, including leading germplasm, to transform the way the world farms; Biofuels, to help meet rising fuel demand from the long-haul transportation sector with lower-carbon alternatives;Hybrid wheat, enabled by a one-of-its-kind, proprietary system with potential to deliver yield advantages of 10% — and up to 20% in water-stressed environments. “Corteva is a critical technology provider in an absolutely indispensable industry, and poised to deliver meaningful growth and value,” said Corteva CEO Chuck Magro. “Building on nearly a century of agronomic expertise, groundbreaking technology that helps farmers solve some of their toughest challenges and the ability to deliver seed and crop protection solutions for every acre, this company is set to further its strong track record of creating value for farmers, shareholders and society at large. It’s an exciting time to be at, and with, Corteva.”