Investors are unimpressed by DuPont first-quarter earnings

08 April 2002 00:00  [Source: ICB]

DuPont has announced its first quarter earnings will be higher than the most optimistic market expectations of $506m or $0.51 per share.

The Wilmington, Delaware, US-based company attributed the improvement to lower fixed costs across most operations during the quarter. Better early-season sales in its production agriculture businesses also played a part.

Fourth-quarter 2001 earnings excluding one-time items were only $0.12 per share. There has been 'some firming' in several of Dupont's chemical and materials businesses compared with the fourth quarter of 2001, said the company.

But it warned of continuing uncertainty about the timing of a broad-based recovery in end-user demand.

The announcement failed to help DuPont's share price which then fell, suggesting investors are not impressed.

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