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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
09/17/201419:58:21MARKET SNAPSHOT: U.S. Stocks Gain; Dow Closes At Record High
09/17/201419:52:40MARKET SNAPSHOT: U.S. Stocks Extend Gains On Fed Decision
09/17/201419:38:51MARKET SNAPSHOT: U.S. Stocks Rise Ahead Of Fed Statement
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09/17/201418:21:30MARKET SNAPSHOT: U.S. Stocks: Futures Flat As Fed Day Arrives
09/03/201419:09:29Atlantic Richfield, DuPont to Pay $26 Million in Cleanup Settlement
09/03/201419:00:54Atlantic Richfield, DuPont Agree to Pay $26 Million in Cleanup...
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08/27/201417:47:33DuPont Reaches $1.28 Million Settlement Over Toxic Gas Leaks...
08/27/201417:45:53DuPont Reaches $1.28 Million Settlement Over Toxic Gas Leaks
08/25/201421:30:17Judge Overturns GMO Crop Curbs in Hawaii
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04/17/201410:16:19MARKET SNAPSHOT: U.S. Stocks Lower Amid Mixed Earnings
04/17/201406:56:15DuPont Profit Tumbles Despite Growth
04/13/201408:46:33MARKET SNAPSHOT: Google, Intel, IBM Outlooks To Trump Earnings...
04/03/201411:13:07Court Tosses $920 Million DuPont Award Over Kevlar Trade Secrets...
03/04/201417:38:12EU Expected to Issue Antitrust Complaint Over Honeywell/DuPont...
03/02/201406:18:18MARKET SNAPSHOT: Jobs, Winter Weather To Test Record Stock Levels

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