Corteva's 2022 balance sheet encourages the team

Corteva Inc released today (1/2) its numbers for the year 2022 and forecasts for 2023. Based on preliminary information, there is satisfaction with what has been achieved and good prospects for this year. The annual investor meeting will take place on April 29.

In general, net sales in 2022 increased by 11% compared to the previous year, reaching US$17,46 billion.

The seeds segment grew 7% (to US$8,979 billion), with highlights being Latin America (corn) and North America (soybeans). As the company reported, the price rose 9% globally.

Crop protection net sales increased 17% (to US$8,476 billion), with gains in all regions. The results, in the executives' assessment, were driven by new products, such as the herbicides Enlist and Arylex; and the insecticide Isoclast.

For 2023, the company reported expecting net sales of US$18,1 to US$18,4 billion. In the first half of the year, executives also envision completing the acquisitions of Stoller and Symborg.

"The outlook for agriculture remains robust in 2023, with record demand for cereals and oilseeds as stocks remain under pressure. Commodity prices are above historical averages, and farmers' balance sheets and income levels remain healthy, leading producers to prioritize technology to maximize return. The company expects an increase in planted area in the USA and continues to monitor dynamic weather conditions around the world", stated in Corteva's official statement.

"Farm income levels remain strong as tight supply keeps crop prices commodities above historical averages, leading farmers to continue investing in technologies that increase productivity and yield", emphasized Chuck Magro, CEO of Corteva.