At its 2024 Investor Day, Corteva outlined a comprehensive strategy to deliver sustained value to shareholders while addressing critical global challenges. The company highlighted three key areas of focus:
- Food Security: Meeting the demands of a growing population amid finite arable land.
- Climate Change: Mitigating the intensifying impacts of extreme weather, pests, weeds, and diseases.
- Energy Transition: Supporting the shift away from fossil fuels with innovations like biofuels.
Strategic Financial Framework Through 2027
Corteva introduced an ambitious financial plan aimed at generating:
- $1 billion in incremental net sales through growth platforms.
- ~$1 billion in cost deflation and productivity gains.
- $4.5 billion in shareholder returns.
Six Key Growth Platforms
The company’s growth will be driven by six innovation-focused platforms:
- Seed and Trait Out-Licensing: Advancing toward royalty neutrality by 2028.
- Biologicals: Targeting $1 billion in annual revenue by leveraging nature-based solutions to enhance yields.
- New Crop Protection Technologies: Addressing pressures from pests, weeds, and diseases.
- Gene Editing: Utilizing cutting-edge germplasm and technology to revolutionize farming practices.
- Biofuels: Developing lower-carbon fuel solutions to meet increasing demand in long-haul transportation.
- Hybrid Wheat: Introducing proprietary systems with potential yield increases of up to 20% in water-stressed environments.
Commitment to Innovation
Corteva invests approximately 8% of its sales—equivalent to $4 million per day—into research and development to tackle farmers’ most pressing challenges. This commitment underscores its role as a leader in agronomic innovation and sustainability.
CEO Perspective
“Corteva is a critical technology provider in an indispensable industry, poised to deliver meaningful growth and value,” said Chuck Magro, Corteva CEO. “With nearly a century of expertise and groundbreaking solutions for farmers, we are positioned to build on our strong track record and drive value for farmers, shareholders, and society alike. It’s an exciting time to be part of Corteva.”
Corteva’s plans reflect its focus on advancing agricultural innovation, supporting sustainability, and delivering significant value for all stakeholders.
