Corteva, Inc.'s (CTVA) CEO Chuck Magro on Q2 2022 Results - Earnings Call Transcript

Corteva, Inc. (NYSE:CTVA) Q2 2022 Earnings Conference Call August 5, 2022 9:00 AM ET

Company Participants

Kim Booth - IR

Chuck Magro - CEO

Dave Anderson - EVP and CFO

Tim Glenn - EVP, Seed Business Unit

Robert King - EVP, Crop Protection Business Unit

Conference Call Participants

Vincent Andrews - Morgan Stanley

Joel Jackson - BMO Capital Markets

David Begleiter - Deutsche Bank

Kevin McCarthy - Vertical Research Partners

Chris Parkinson - Mizuho

P.J. Juvekar - Citi

Jeffrey Zekauskas - JP Morgan

Steve Byrne - Bank of America

Michael Piken - Cleveland Research

Operator

Good day, and welcome to the Corteva Second Quarter 2022 Earnings Call. Today’s conference is being recorded.

At this time, I would like to turn the conference over to Kim Booth, please go ahead.

Kim Booth

Good morning, and welcome to Corteva’s Second Quarter and First Half 2022 Earnings Conference Call.

Our prepared remarks today will be led by Chuck Magro, Chief Executive Officer; and Dave Anderson, Executive Vice President and Chief Financial Officer. Additionally, Tim Glenn, Executive Vice President, Seed Business Unit; and Robert King, Executive Vice President, Crop Protection Business Unit, will join the Q&A session. We have prepared presentation slides to supplement our remarks during this call, which are posted on the Investor Relations section of the Corteva website and through the link to our webcast.

During this call, we will make forward-looking statements, which are our expectations about the future. These statements are based on current expectations and assumptions that are subject to various risks and uncertainties. Our actual results could materially differ from these statements due to these risks and uncertainties including, but not limited to, those discussed on this call and in the Risk Factors section of our reports filed with the SEC. We do not undertake any duty to update any forward-looking statements.

Please note in today’s presentation, we’ll be making references to certain non-GAAP financial measures. Reconciliations of the non-GAAP measures can be found in our earnings press release and related schedules along with our supplemental financial summary slide deck available on our Investor Relations website.

It is now my pleasure to turn the call over to Chuck.

Chuck Magro

Thanks, Kim. Good morning, everyone, and thank you for joining us. There are several key topics we’re excited to share with you today, including our strong results for the first half. Robust customer demand and sustained execution amidst dynamic market conditions resulted in double-digit growth in sales and operating EBITDA. Strong organic sales gains in every region are a testament to continued customer demand for our differentiated sustainably advantaged technologies.