DuPont Earnings: Better Living Through Chemistry?
S&P 500 (NYSE:SPY) component E. I. du Pont de Nemours and Company (DuPont) (NYSE:DD) reported net income above Wall Street’s expectations for the first quarter. E.I. du Pont de Nemours & Company offers products and services for markets including agriculture and food, building and construction, electronics and communications, general industrial, and transportation.
E. I. du Pont de Nemours and Company (DuPont Earnings Cheat Sheet for the First Quarter
Results: Net income for E. I. du Pont de Nemours and Company (DuPont) rose to $1.43 billion ($1.52/share) vs. $1.13 billion ($1.24/share) YoY. A rise of 26.7% from the year earlier quarter.
Revenue: Rose 14.3% to $10.03 billion YoY.
Actual vs. Wall St. Expectations: DD beat the mean analyst estimate of $1.36/share. Estimates ranged from $1.30 per share to $1.40 per share.
Quoting Management: “Our science-powered innovation, keen focus on customers and disciplined execution contributed to delivering outstanding results, including double-digit sales increases in every segment and in every region,” said DuPont Chair and CEO Ellen Kullman. “Innovation that addresses population-driven megatrends around food, energy and protection coupled with ongoing productivity and execution will continue to differentiate DuPont.”
The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 16.5%, with the biggest boost coming in the first quarter of the last fiscal year when revenue rose 22.7% from the year earlier quarter.
Last quarter’s profit increase breaks a streak of two consecutive quarters of year-over-year profit decreases. In the fourth quarter of the last fiscal year, net income fell 14.7% while the figure dropped three quarters ago.
Competitors to Watch: The Dow Chemical Company (NYSE:DOW), FMC Corporation (NYSE:FMC), Monsanto Company (NYSE:MON), 3M Company (NYSE:MMM), Syngenta (NYSE:SYT), PPG Industries (NYSE:PPG), PolyOne Corporation (NYSE:POL), Rockwood Holdings (NYSE:ROC) and Ashland Inc. (NYSE:ASH).
Today’s Performance: Shares of DD are trading at $55.33 as of April 21, 2011 at 12:03 PM ET, down 0.07% from the previous closing price of $55.37.