DuPont Q2 Profit Matches Estimates; Lowers Full Year Earnings Guidance

(RTTNews) - DuPont (DD), a science company that brings world-class, innovative products, materials, and services to the global marketplace, reported second quarter 2015 net income attributable to company of $940 million compared to $1.07 billion, a year ago. Earnings per share were $1.03, compared to $1.15. Operating earnings per share was $1.18, for the quarter.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $1.18 for the quarter. Analysts' estimates typically exclude special items.

Second quarter sales were $8.60 billion, down 11 percent versus prior year due to negative impacts from currency, portfolio changes, volume and local price and product mix. Analysts expected revenue of $8.75 billion for the quarter.

DuPont said the company is reducing expectations for the year in its Agriculture segment due to weaker demand in global crop protection markets, reduced expectations for corn area in Latin America, and lower than expected soybean volumes in North America.

The company expects operating earnings per share for 2015 to be about $3.10 per share for the full year, excluding $0.80 per share of anticipated full-year earnings from the Performance Chemicals segment. This represents a $0.10 per share reduction from the prior outlook of $4.00 per share, which included the Performance Chemicals segment. Analysts expect the company to report earnings per share of $3.54.

DuPont's board approved a third quarter dividend of $0.38 per share payable on Sept. 11, 2015, to stockholders of record at the close of business on Aug. 14, 2015.