Tuesday, October 26, 2010

DuPont (NYSE:DD) Raises Guidance as Company Beats Estimates

DuPont (NYSE:DD) exceeded analysts' expectations according to their quarterly report, although the were far behind their performance last year in the same quarter.

Earnings for the third quarter reached $367 million, or 40 cents a share, dropping from $409 million, or 45 cents a share in 2009's third quarter. Analysts were looking for 34 cents a share on sales of $6.72 million.

Revenue did increase, growing to $7 billion, an increase of almost 15 percent.

DuPont Chair and CEO Ellen Kullman said, "I am proud of our business teams' performance this quarter, with segment pre-tax earnings up 33 percent excluding Pharmaceuticals income. DuPont's market focus and science-based innovations helped drive outstanding sales growth, with all business segments and regions contributing. This quarter's results were complemented by ongoing productivity improvements and rigorous cost management that contributed to profitable growth."

Earnings guidance going forward was raised for the full year 2010 to around $3.10 a share over the previous guidance range of $2.90 a share $3.05 a share.

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