MOSCOW (MRC) -- DuPont, a science company that brings world-class, innovative products, materials, and services to the global marketplace, reported second quarter 2015 net income attributable to company of USD940 million compared to USD1.07 billion, a year ago, as per the company's press release.
Earnings per share were USD1.03, compared to USD1.15. Operating earnings per share was USD1.18, for the quarter.
On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of USD1.18 for the quarter. Analysts' estimates typically exclude special items.
Second quarter sales were USD8.60 billion, down 11 percent versus prior year due to negative impacts from currency, portfolio changes, volume and local price and product mix. Analysts expected revenue of USD8.75 billion for the quarter.
DuPont said the company is reducing expectations for the year in its Agriculture segment due to weaker demand in global crop protection markets, reduced expectations for corn area in Latin America, and lower than expected soybean volumes in North America.
The company expects operating earnings per share for 2015 to be about USD3.10 per share for the full year, excluding USD0.80 per share of anticipated full-year earnings from the Performance Chemicals segment. This represents a USD0.10 per share reduction from the prior outlook of USD4.00 per share, which included the Performance Chemicals segment. Analysts expect the company to report earnings per share of USD3.54.
DuPont's board approved a third quarter dividend of USD0.38 per share payable on Sept. 11, 2015, to stockholders of record at the close of business on Aug. 14, 2015.
As MRC reported before, in August 2014, DuPont Crop Protection (DuPont) announced an agreement with Mitsui & Co., Ltd. (Mitsui) for DuPont to sell its global Kocide and ManKocide copper fungicide business assets to Mitsui. The sale was closed in the fourth quarter 2014. Financial terms of the agreement were not disclosed.
Besides, Borealis AG announced that its was buying out DuPont Co.’s two-thirds share in their Specialty Polymers Antwerp NV joint venture. No purchase price was disclosed. Wilmington, Del.-based DuPont will continue to sell ethylene vinyl acetate (EVA) and acrylate compolymers made at the JV’s plant, which is in Zwijndrecht, Belgium.
DuPont is an American chemical company that was founded in July, 1802. The company manufactures a wide range of chemical products, leading extensive innovative research in this field. The company is the inventor of many unique plastics and other materials, including neoprene, nylon, Teflon, Kevlar, Mylar, Tyvek, etc. DuPont was the developer and main producer of Freon used in the production of refrigeration equipment.
MRC