Corteva's (CTVA) CEO Chuck Magro on Q1 2022 Results - Earnings Call Transcript

Corteva, Inc. (NYSE:CTVA) Q1 2022 Earnings Conference Call May 5, 2022 8:30 AM ET

Company Participants

Jeff Rudolph – Vice President-Investor Relations

Chuck Magro – Chief Executive Officer

Dave Anderson – Executive Vice President and Chief Financial Officer

Tim Glenn – Executive Vice President-Seed Business Unit

Robert King – Executive Vice President-Crop Protection Business Unit

Conference Call Participants

Vincent Andrews – Morgan Stanley

Dave Begleiter – Deutsche Bank

Chris Parkinson – Mizuho

Kevin McCarthy – Vertical Research Partners

Patrick Cunningham – Citi

Alex Chen – BMO Capital Markets

Steve Byrne – Bank of America

Michael Piken – Cleveland Research

Lucas Beaumont – UBS

Frank Mitsch – Fermium Research

Adam Samuelson – Goldman Sachs

Operator

Good day, and welcome to the Corteva First Quarter 2022 Earnings Conference Call. Today's conference is being recorded.

At this time, I'd like to turn the conference over to Jeff Rudolph, Vice President of Investor Relations. Please go ahead.

Jeff Rudolph

Good morning, and welcome to Corteva’s first quarter 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 be part of the Q&A session.

We have prepared our 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 the Risk Factors section of our reports filed with the SEC.

We do not undertake any duty to update any forward-looking statement. Please note, in today's presentation, we will be making references to certain non-GAAP financial measures. Reconciliations of the non-GAAP measures can be found in our earnings 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, Jeff. And thank you for joining us on the call and webcast today. Corteva delivered a solid start to the year with double-digit sales and earnings growth in the quarter. Despite pressure from ongoing inflation and supply chain challenges, the team delivered impressive value creation. Every region delivered double-digit organic sales gains led by strong demand for advantage technologies.