Five years ago, Corteva, Inc. debuted as a public company with a clear mission: to consistently deliver innovative solutions to help farmers feed and fuel the world. Since then, Corteva has supported farmers in increasing their yields through groundbreaking products, including:
- Enlist E3® soybeans, the top soybean trait system in the U.S.
- Vorceed® Enlist® corn, which offers enhanced protection against corn rootworm
- Proprietary winter canola hybrids, meeting the growing demand for biofuels while providing an additional revenue source for farmers
- Reklemel™ active, a unique selective nematicide that protects crops and maintains soil health
- Adavelt™ active, which effectively combats more than 20 diseases across over 30 crops
- Utrisha™ N, a biostimulant that captures supplemental nitrogen from the air
Today, Corteva’s employees and senior management will celebrate five years as an independent company by ringing the opening bell of the New York Stock Exchange.
“These five years of working alongside farmers and customers have shown us that the work we do at Corteva has never been more urgent or more important,” said Corteva CEO Chuck Magro. “Farmers globally are facing the growing pressures of changing weather, new pests and diseases, while at the same time being asked to feed a rapidly growing population – and they’re being asked to do this using the same amount of land and fewer resources. At Corteva, we are proud to mark five years of delivering the innovation that helps farmers around the world safely and effectively address each of these issues.”
Corteva invests nearly $4 million in innovation daily and employs approximately 22,500 people worldwide, with over 5,000 dedicated to developing next-generation innovations at over 100 research sites and 2,000 testing locations globally. The company serves around 10 million farmers and customers in 125 countries. In its five years, Corteva has achieved the following:
- Surpassed $78 billion in cumulative net sales
- Increased annual operating EBITDA by over $1.3 billion (63%)
- Delivered a total shareholder return of approximately 140%
- Launched approximately 2,000 new products to help farmers increase yields
- Established over 700 agreements globally to advance agricultural technology with research start-ups, universities, and others
- Developed technology backed by more than 7,000 added patents
- Created the world’s only germplasm pool producing corn with yields over 600 bushels per acre
- Met robust sustainability innovation criteria in 100% of new solutions in the product pipeline
- Enhanced over one million acres of land supporting biodiversity and regenerative agriculture outcomes through strategic partnerships
For more information, see the Corteva 2023 Annual Report and Sustainability Report.
[1] The transgenic soybean event in Enlist E3® soybeans is jointly developed and owned by Corteva Agriscience LLC and MS Technologies, L.L.C.
[2] Financial and selected product information reflects data from the period January 1, 2019 – December 31, 2023; comparative financial periods use data for the year ended December 31, 2018 as a base.
[3] The operating EBITDA information in this presentation does not conform to U.S. GAAP and is considered a non-GAAP measure. Management uses this measure internally for planning and forecasting, including allocating resources and evaluating incentive compensation. Management believes that this non-GAAP measure best reflects the ongoing performance of the company during the periods presented and provides more relevant and meaningful information to investors as it provides insight with respect to ongoing operating results of the company and a more useful comparison of year-over-year results. This non-GAAP measure supplements the company’s U.S. GAAP disclosures and should not be viewed as an alternative to U.S. GAAP measures of performance. Furthermore, such a non-GAAP measure may not be consistent with similar measures provided or used by other companies. A definition and reconciliation for this non-GAAP measure to U.S. GAAP is provided on the investors section of the Corteva website, along with more information about supplemental unaudited pro forma financial information.
