August 15, 2019 / 1:46 PM / 10 days ago

Corteva forecasts higher revenue growth for 2020 and beyond

FILE PHOTO: The logo and trading info for Corteva Agriscience, a former division of DowDuPont, is displayed on a screen at the New York Stock Exchange (NYSE) in New York, U.S., June 3, 2019. REUTERS/Brendan McDermid

(Reuters) - Corteva Inc (CTVA.N) on Thursday raised its revenue growth forecast for 2020 and beyond to a range of 4% to 6%, citing expectations of higher pesticide sales.

The company, which had earlier forecast overall revenue growth of 3% to 5%, also raised its revenue growth forecast for its crop protection business to a range of 5% to 7% from a range of 3.5% to 6.5%.

Corteva also provided full-year operating earnings forecast of between $1.06 and $1.31 per share, while affirming its net sales and adjusted core earnings forecast for 2019.

(The story has been refiled to correct paragraph 2 to say crop protection business, not pesticide business)

Reporting by Shanti S Nair and Nishara Karuvalli Pathikkal in Bengaluru; Editing by Anil D'Silva

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