RTTNews | Aug 5, 2021 06:21PM EDT

18:20 Thursday, August 5, 2021 (RTTNews.com) - Corteva Inc. (CTVA) Thursday lifted its financial outlook for the full year 2021. The company also announced $1.5 billion share repurchase program. The stock gained over 4% in after-hours trading.

Looking forward to full year 2021, Corteva now expects net sales in the range of $15.2 billion to $15.4 billion, which at the mid-point represents expected net sales growth of 8% for the year. The company expects operating earnings of $2.00 and $2.10 per share.

Previously, the company expected net sales of $14.6 billion to $14.8 billion, which at the mid-point represents expected net sales growth of 3-4% for the year. The prior outlook for operating earnings was $1.85 to $1.95 per share.

Analysts polled by Thomson Reuters currently estimate earnings of $1.93 per share on revenues of $14.81 billion for the quarter. Analysts' estimates typically exclude one-time items.

Separately, Corteva announced that its Board of Directors authorized a new $1.5 billion share repurchase program. This newly authorized program is in addition to $1 billion program announced in 2019, which the company expects to complete by the end of 2021.

CTVA closed Thursday's trading at $41.44, down $0.83 or 1.96%, on the Nasdaq. The stock, however, gained $1.82 or 4.39%, in the after-hours trade.

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