DuPont Earnings Cheat Sheet: Beats Expectations

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 third 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.

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E. I. du Pont de Nemours and Company (DuPont Earnings Cheat Sheet for the Third Quarter

Results: Net income for the conglomerates company rose to $452 million (48 cents per share) vs. $367 million (40 cents per share) in the same quarter a year earlier. This marks a rise of 23.2% from the year earlier quarter.

Revenue: Rose 32% to $9.24 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: DD reported adjusted net income of 69 cents per share. By that measure, the company beat the mean estimate of 56 cents per share. It beat the average revenue estimate of $8.68 billion.

Quoting Management: “The resilience and diversity of DuPont’s business portfolio was evident in our strong third quarter results. Despite turbulent global economic and market conditions, we delivered solid growth through innovative products and process technologies, disciplined execution and continued productivity gains,” said DuPont Chair and CEO Ellen Kullman. “Our portfolio is further strengthened by the rapid integration of Danisco, continued capacity expansions and selective growth investments across many of our businesses.”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 18.1%, with the biggest boost coming in the most recent quarter when revenue rose 32% from the year earlier quarter.

The company has now seen net income rise in three straight quarters. In the second quarter, net income rose 5.1% and in the first quarter, the figure rose 26.7%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 4 cents in the second quarter, by 15 cents in the first quarter, and by 18 cents in the fourth quarter of the last fiscal year.

Looking Forward: Over the last 30 days, analysts have not been optimistic about the company’s next quarter performance. The average estimate for the fourth quarter is now 51 cents per share, down from 53 cents. Over the past three months, the average estimate for the fiscal year has climbed from $3.84 per to share to $3.97.

Competitors to Watch: The Dow Chemical Company (NYSE:DOW), FMC Corporation (NYSE:FMC), PPG Industries, Inc. (NYSE:PPG), 3M Company (NYSE:MMM), Honeywell Intl. Inc. (NYSE:HON), Akzo Nobel N.V. (AKZOY), Rockwood Holdings, Inc. (NYSE:ROC), Monsanto Company (NYSE:MON), PolyOne Corporation (NYSE:POL), and Ashland Inc. (NYSE:ASH).

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(Source: Xignite Financials)