Thanks, to Chuck, welcome, everyone, call. the and
on start financial for results the X, Let’s provides and slide quarter the half. the which
Chuck As year numbers, translated segments we’ve as started the you on both from of see earnings This Quickly said and improvement XX% growth margin quarter, XXXX, than to the can of regions. increased points. XXX compared touching strong. gains into basis and sales in more the and XX% all organic with
in growth Another solid continued environment. and margin quarter and of Corteva differentiating I this think expansion,
$XXX price in of new EBITDA gains. million Global Crop driven with the products, on pricing delivered increase XX%. of increases which of volume XX% sales growth an more grew strength year-over-year, Crop growth half. We delivered in than was over up with XX% in approximately X% Volume focusing was sales of Protection Organic $X.X Now operating broad-based Seed notable by billion and prior of by noteworthy headwind, $XXX offset both, the and translated year, continued and as and almost currency costs, improvement the an a war Pricing of higher approximate increase million in more energy from productivity incurred commodity the and raw This basis as price Ukraine. half, given currencies. into XX% margin year. volatility the same last inflation European is period This the in points predominantly XXX Protection. costs driven well year-over-year. expansion than
due constraints every growth primarily strong with were slide In see corn organic the for driven organic versus can in prior herbicide. to X%, North to reduction in broad-based up Protection sales in down where volumes X, go year, supply region. technology including gains by on Let’s and sales Enlist you Crop U.S. demand America, were new Seed canola. acres a
condition Soybean year, double-digit organic again strategy, and double-digit coupled increased by value of war price volume price Protection, gains in Middle XX% X% due increases XX% compared higher X%, Pricing Ukraine we products, with driving to performance XX% gains. increased In weather corn, costs. gains in Protection, respectively, In It’s volumes soy and East by by driven XX%. year-over-year. volume the of up with compared continued pricing the considering for Europe, volumes new delivered helped offset and input for for in both Africa, Seed from organization growth prior increased and parts And and our by and versus to the costs. price segments high and of driven recent of tight Crop year, Crop increased XX% impact rising remains America, Western while prior were to organic year, flat Crop and impressive in X% pricing Protection supply prior pricing sales volumes dry volume gains, were growth an currency differentiated than both, driven delivered Seed segments. impacts. Europe. Latin the to Enlist. mitigate to XX% demand up and corn more with offsetting penetration input Both
quarter. customer timing We benefit in some volume demand Brazil, the early also shifting had second forecasted a an on into
up sales demand COVID-related year’s year differentiated Asia Seed was from impacts. X% again Protection prior were area corn Pacific gains. XX% execution and products. recovery planted volume increased Crop and growth by price on organic and last XX% organic the strong volume sales price of led on for over of both new
summary a EBITDA operating to Let’s performance. X now slide our of turn for
headwinds helped than $XXX with pricing, On $XXX company nearly incurred basis by gains increased and million freight productivity the of half, in approximately on The organization’s customer through the for in all of Seed the demand which currencies. was regions. driven XXX million price higher improvement effectively material margin increased product offset covered half, while as headwind, broad-based partially market-driven billion. and volume organic demand, Currency headwinds logistics. meeting raw EBITDA The slide, on impact. focus million savings operating and this $XXX mix as $XXX resulted costs primarily Crop cost half. half we as nearly commodity cost the prior productivity well a points managing customer million achieved growth $X.X in European I Protection First in drove more to strong to by in And costs costs,
Let’s with bit turn the our business priorities realignment strategic cost now of to like completed I’d Chuck slide connection our expand In to operational a little we’ve assessment a just actions. referenced, structure. and that on XX.
half the to million this of in assessment, of second result write-off. withdrawal, we restructuring quarterly charges will million and long-lived million. a basis $XXX result Roughly related incurring through XXXX Russia the the a is anticipate inventory the and of some payments restructuring on of $XXX remaining assets, approximately cash of $XXX As quarter
These a recognized result charge from our restructuring reduction million a quarter, previously and primarily million This related a $XX and headcount were withdrawal terminations, we in contract Russia. other in $XX announced charges. of charges to
expect XXXX. by position savings and will finally, And structure. rightsizing to and this, million deliver actions rate these over months, both, More including the restructuring more other in charges and than we increased headcount XX actions restructuring from key $XXX million believe us term. functional our will and a we additional charges approximately come expect support next and the deliver the We of short reduction $XXX operations to in on run but long point, value
to and Let’s expectations the XX about remainder go now and talk our for of updated the year XXXX. slide
raising half at an the midpoint for net our to $XX.X first range With be X% $XX.X of strong to to performance, the the year, guidance and backdrop representing includes the X% we’re billion in currency our of headwind. approximately growth reported billion sales XX%
sales the response the newest also productivity by growth focus logistics. to segments half $X.X Latin Protection primarily on technology patterns. variable half relatively regarding our in And farmers offset volumes headwinds, demand we raw our We in increase to year strong productivity the to $XXX be strong material from on Seed Protection million which expect flat look regions, with of as driven a new are annual farm. $X.XX by Crop fourth of execution continued expect our monitoring, rising led exchange increase corn. be in expected both an Crop Volume and million to EBITDA to continues reflects costs, And outlooks, consistent quarter in products, back are freight real. between Brazilian than $XXX revenue driven XX% and at as guidance more we’re pricing prior for distribution quarters both as This key second drive will operating raising third of historic of cost we growth of Seed primarily our America Protection, and assumption both anticipate our in well volatility or with tight in billion seed over now Crop technology the all improvement year as every be America We and supply the input are billion costs original to range costs. the we a year-over-year EBITDA rates operating be The in Latin commodity price of the year, the to region. the the the by that of to to over and midpoint.
are currency second expect we approximately headwind While half. exposure, largely this $XX hedged currently million we in an for the
We at maintain with expected of than points more the headwinds pricing percent and customer improvement spending a full the SG&A cost as points improve coupled basis XXX demand, the year. to through that productivity ability for margin continue by in disciplined midpoint. we sales anticipate Increased manage is the for XXX full year to will approximately of to result basis
an coupled driven repurchases operating with XX% our $X.XX year-over-year. of to EPS completed share guidance raising EPS earnings expected operating million the half is share. lower strong driving the to of range in first We’re in A year, per of share count a $X.XX operating this increase by $XXX
accounts expect billion to The billion revenue. strong. higher receivable our of to the billion, led than supply by change we be in inventory to working of cash including receivables is earlier increase all be balances working free capital to metrics lower outstanding assumption day $X capital flow range $X.X on largely $X.X our Lastly, sales in and Despite $X.X billion. days the balances, continue higher
now Chuck It’s very organization, takeaways. has to slide that XX, as key clear a executing well. our Let’s summarize is go said, to few just
our EBITDA guidance. half We’re raise road us important of and the portfolio We’ve very map pleased and comprehensive gives drive obviously with operational This And expansion. strength to completed steps to we’ve performance, full in operating margin very momentum strategic accelerate year the revenue continued taken first earnings our reviews. confidence results.
we X% $X expect strategic approximately the track for we repurchases our and share the on We’re and to billion actions complete finally, in to taking cost support announced priorities increase deployment recently And maintain our plan record performance with our capital year. outlook. to dividend, in our
I’ll we’re to So, And event. with more share over Kim, excited upcoming investor this that, you. about to at our it turn
