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DuPont 1Q Profit Rises On Pricing, Agricultural Sales

DOW JONES NEWSWIRES DuPont Co.'s (DD) first-quarter profit rose 4% as the chemicals giant benefited from higher pricing and a jump in sales of agricultural products, as well as strong growth in developing markets. DuPont, a diversified U.S. manufacturer, has received a boost from higher pricing in recent quarters, offsetting raw material expenses. The company was one of the first companies last year to highlight the issue of destocking--customers working down their inventories instead of buying new products. The company saw a dip in its profits at the end of the year, and warned that customers in its consumer electronics sector would continue destocking. Dupont saw a brighter outlook in other sectors, however, expecting a bounce from U.S. auto making and other manufacturing. DuPont reported income of $1.49 billion, or $1.57 a share, up from $1.43 billion, or $1.52, a year earlier. Excluding special items, earnings in the latest quarter were $1.61 a share. Net sales were up 12% to $11.23 billion. Volume dropped 2%, offset by prices, which rose 8%. Analysts surveyed by Thomson Reuters estimated a profit of $1.55 on revenue of $11.23 billion. DuPont's agricultural segment, its biggest topline contributor, rose 16% in sales, with growth in volumes and pricing. The company's performance materials segment saw roughly 6% lower sales, while sales of performance coatings were up 6%. Sales in developing markets grew 15%. Shares of DuPont, which affirmed its 2012 guidance, closed Wednesday at $53.27 and were inactive premarket. The stock is up 16% so far this year. --By Kristin Jones, Dow Jones Newswires; 212-416-2208; kristin.jones@dowjones.com

Stock News for Du Pont E I De Nem (DD)
DateTimeHeadline
07/20/201615:40:00Dow, DuPont Merger Wins Shareholder Approvals -- 2nd Update
07/20/201614:45:43Current Report Filing (8-k)
07/20/201613:47:00Dow, DuPont Merger Wins Shareholder Approvals -- Update
07/20/201612:20:00Dow, DuPont Merger Wins Shareholder Approvals
07/20/201612:07:00Dow, DuPont Merger Wins Shareholder Approvals
07/20/201610:26:00Dow and DuPont Stockholders Approve Merger
07/19/201614:32:00Monsanto Rejects Bayer's Sweetened Merger Offer--Update
07/19/201609:46:00Monsanto Rejects Bayer's Sweetened Merger Offer--Update
07/19/201609:00:00Monsanto Rebuffs Bayer's Sweetened Merger Offer
07/19/201608:48:00Monsanto Rebuffs Bayer's Sweetened Merger Offer
07/19/201605:59:00Companies Forgot About Mom-and-Pop Investors...Until Now
07/15/201611:49:30Current Report Filing (8-k)
07/15/201603:03:00Bayer's Monsanto Bid Boosted to $65 Billion -- WSJ
07/14/201616:38:00Bayer Makes New Offer for Monsanto -- 3rd Update
07/14/201616:17:00Bayer Makes New Offer for Monsanto -- 2nd Update
07/13/201617:16:55Filing of Certain Prospectuses and Communications in Connection...
07/11/201617:17:04Filing of Certain Prospectuses and Communications in Connection...
07/11/201617:16:37Filing of Certain Prospectuses and Communications in Connection...
07/08/201618:10:00Jury Awards $500,000 Punitive Damages in DuPont Case
07/08/201617:55:00Jury Awards $500,000 Punitive Damages in DuPont Case

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