thank welcome the joining to and call. participants and Megan, you are you, Thank this that
our overcome Every I’m of reporting of crisis, new and to I and and the on our am crises normal strategic has our our by our to we’ve quarter, thoughts agile communities. health how leveraged has and our to turning how Before been support team strengths to due been our some member resilient through collective the by completely in to customers situation. team Covid-XX. global awe I this financial inspired for caused challenges wanted global current tasked share
is to live defining safely. our of values One
to by new safety than the of we ensuring taking started set Mid-March crisis team. response and our meetings, in every from and strides Our equipped, site ensuring and crisis teams global properly taking In January, model, travel and organisation cancelling comprehensive more support security personnel active policies a a effort, and our were activated our with employee. to person work field of essential XX% home management
could the our our proud food and of team regional investments keeping the intact. exceptionally sources supply, deemed supply standpoint, I’m a assets, emerged. continuity and were I’m to to of production the historical pivoting quickly in and business resiliency ensure for disruptions committed when resiliency, supply customers role that product healthy, We global leveraged and motivated our of supply a From as organisation, alternative essential. chain to our reflection our we critical operations provide by reliable
field our of physical and or means, activities, safety and quickly health agronomic migrated our have deliveries. the facilitate and ensure to many virtual done normally service To installed sales remote we procedures customers, to contactless in product have person,
in the in on taking capabilities made enablement We’re past. tools on digital we sales leaning place, in the greater that leverage investments have those harder
mitigate are to of we solutions devise opportunities crisis Finally, these with seeking facilitate global to the proactively to restart. society, a partner and impacts
security. where operate to support taking ways communities we locally underpin that We provide actions in are in food
Mercy we testing. the Iowa Covid-XX perform in with also our to solution part work, the are to We become partnership assets One crisis. announced of ready system our to Hospital put recently to this innovation Most to
to leveraging most those communities. genetic assets We capabilities support world aggressively have current this sequencing the some and of the to We are responded advanced our situation. in
emerge and stronger our crisis. that our will result I As actions, combined team, communities, our a operations of this confident from am our
On year. hit in reported X% basis Currency, operational favourable and Improvement our weather quarter. was particularly in Net the So, by with prior demonstrating strong basis, and favourable XX% double-digit were Qrome Seed net Europe, quarter. both early corn headwind; sales driven increased show In for indicators PowerCore XX% performance demand reporting represents execution. we products. to XX% particularly of organic a segments rebound key organic and Brazil in early an and the moving a and Slide was strength on our North Europe, the versus improved demand X, acreage and increases regions. our portfolio Seed, North X% America increased a anticipated up on sales across in the weather, pipeline, sales from all prices, American Ultra the
products, operating volume for XX%, the contributed margin EBITDA product In and Europe new basis North In notably new Crop supported growth Arylex more margin by In in EBITDA merger continued Isoclast increased increased price cost Crop points and gains and Operating than improved expenses. organic herbicide in and insecticide. Protection, drove energies sales improvements sales and XX%, to and Seed, America quarter. gains. productivity Protection, XXX
show execution. sales favourable momentum and net conditions spending a costs basis weather our XXX points reflect R&D drive capitalised productivity by in X%. by new resilient improvements supply decreased quarter, the SG&A It cost These Covid-XX. indicators for challenges supported benefit the Overall, to of ongoing declined to as on efficiencies. percent to efforts approximately of energies, a building these related chain and products, market strong overcome regional
actions the cost commitments in our expansion and productivity and operating our spending quarter. create EBITDA We delivered to synergy intensified on
we this I and our adapt Now, delivering excellence, substantial made and to that operational want on resiliency, to period our demonstrates deliver. capacity during progress performance strategy, underscore our
a we our to shareholder an spending owner preservation. value and support outlines instilling mindset our these. increased standpoint, priorities for on X, focus five reduce we on cash progress and creation, have made From of Slide each cultural
reducing and actions, and to non-essential prudent like delaying hiring we Now, spending additional further taking leverage. dramatically drive operating are decisive
preservation place. cash also costs are a in cross and crisis. this management team we Additionally, cash cash our capital on have focused reinforce on operational a inherent defensiveness as during functional will driver action Diligence of and working
his key Sam Eathington R&D as Gutterson, organizational taking Officer insure named announced Notably, recently been additional on lead following working executive also announced strong. Dr. actions retirement. restart our and Senior we are Sam Technology Chief Organization. Global will changes. to succeeding our has Vice President We two Neal we
And agenda. Sustainability further Vice External Officer Chief Alonzo an roll Senior help us filling sustainability open our been named and is President of has will Affairs our that and
are We to leaders Corteva have these talented excited join the family.
some Moving sheet. we have to I'll our capital allocation, taken actions balance highlight positively that that impact
cash in facilities, equivalents. We $X have position, a cash billion credit liquidity and includes strong balance approximately which sheet and and in $X billion
are cost-effective We us our to liquidity strengthen our associated pension our to with plan. address both primary further and requirements longer-term funding approaches evaluating
our returning the share. for to of terms second recently year $X.XX per dividend of cash In shareholders, quarterly declared we
product repurchases We million for share in related innovative have acted priority approximately quarter, announced adds on $XX to recently developing also which Europe, with to active the our series first this repurchased. Corteva of a registrations. Inatreq registrations solutions early On
accelerate crop including profile technologies The of momentum is helping North to to product of to Corteva Qrome in increased Ultra America the new speed enabled and Latin seed, America our newest the environment. introductions new competitive and protection a challenging In of PowerCore technology gain market. favourable environmental adoption despite and
cost XXX productivity quarter. structures, a basis the the to the This combined in and in $XX the on best around large contributor On margin our million deliver class and track priority cost savings merger in quarter of was remain by over end point synergies synergies we to approximately million the cost expansion delivered $XXX in in year.
our Finally, on are last XX% growth were momentum. seed versus globally. in indicators was market Pioneer up the market above strong period deliveries corn And the Both corn price quarter of same approximately X% year. up
now I'll Tim over provide hand on the performance. details call some commercial to to our
