News section
home news forum careers events suppliers solutions markets resources directories advertise contacts search site plan
 
.
DuPont reports second quarter earnings per share of $1.04, reaffirms full year outlook

.

Wilmington, Delaware
July 26, 2007

Highlights

  • Second quarter 2007 earnings per share were $1.04, compared with $1.04 in the second quarter of 2006.

  • Earnings per share grew 3 percent to $1.04 from $1.01, excluding a $0.03 per share significant item in the prior-year quarter.

  • Sales grew 6 percent to $7.9 billion, reflecting 1 percent volume growth, 2 percent higher local selling prices and a 3 percent currency benefit.

  • Sales growth in all regions outside the United States more than offset lower U.S. volumes resulting from continuing weakness in housing and automotive markets.

  • The benefit of higher local selling prices was offset by a rise in energy and ingredient costs.

  • Fixed costs as a percentage of sales decreased 120 basis points from the prior-year quarter.

  • DuPont reaffirmed its full year 2007 earnings outlook of about $3.15 per share excluding significant items.

“We are seeing the benefit of our global presence – capitalizing on strong routes to market in developing countries and building on our market-leading positions for businesses that serve multiple industries,” said Charles O. Holliday, Jr., DuPont chairman and chief executive officer. “We generated solid volume growth in all regions outside the United States and increased local selling prices for the 14th consecutive quarter while reducing fixed costs as a percentage of sales. We are executing our growth strategies and continuing to increase return on invested capital.”

Full report (PDF)



 

Agriculture & Nutrition

Sales of $2.1 billion grew 7 percent driven by strong U.S. seed corn and cereal herbicides sales. These gains were partially offset by lower sales of soybeans and cotton herbicides due to reduced acres in North America.

 

The news item on this page is copyright by the organization where it originated - Fair use notice

Other news from this source


Copyright © SeedQuest - All rights reserved