BUZZ - Corteva cuts annual profit forecast due to challenges in its Brazil business, shares tumble

November 12 - ** Shares of agricultural technology company Corteva CTVA.N fell 9.7% in pre-market trading, to $11

** The company sharply lowered its adjusted earnings per share guidance for fiscal 2026 to $0.76 to $0.80, below analysts' expectations of $1.64 and down from the previous forecast range of $3.60 to $3.80 (link)

** The weak performance was mainly due to challenges in the Brazilian market, including inventory buildup, delayed purchasing, and high interest rates, resulting in a 31% decline in organic sales in Latin America——CVTA

** According to data compiled by LSEG, the company reported third-quarter revenue and adjusted earnings per share of $1.59 billion and $0.06, respectively, both missing analysts’ estimates of $1.76 billion and $0.10

** Out of 23 brokerages, 16 rated the stock as “buy” or higher, while 7 rated it as “hold”; the median target price is $17——LSEG

** As of the previous trading day’s close, the stock had gained 20.7% year-to-date

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