DuPont cuts 2011 earnings expectation as growth slows

09 December 2011 14:28  [Source: ICIS news]

DuPont has lowered its full-year 2011 earnings per share outlook to $3.87-3.95 amid slower growth and uncertainties in global markets, the US-based chemicals major said on Friday. HOUSTON (ICIS)--DuPont has lowered its full-year 2011 earnings per share outlook to $3.87-$3.95 amid slower growth and uncertainties in global markets, the US-based chemicals major said on Friday.

The revised outlook compares with DuPont’s previous guidance from October of full-year 2011 earnings per share of $3.97-4.05 (€2.98-3.04).

DuPont CEO Ellen Kullman said the company is seeing slower growth in certain segments during the fourth quarter, driven by global economic uncertainty.

“This uncertainty is contributing to ongoing conservative cash management in some supply chains," she added.

The earnings revision reflects destocking across polymers and certain industrial supply chains that have accelerated during the fourth quarter, the company said.

Demand for consumer electronics has further softened, while housing and construction markets remain weak, it said.

Other markets remain as expected - For example, markets for DuPont's agriculture and food businesses continue to be strong, including solid volume growth during the current Latin America summer season.

"We continue to drive our aggressive productivity initiatives, and, with customer inventories at very low levels, we are staying close to our customers to assure that we are ready to respond when demand returns," Kullman said.

Even with the lower outlook, DuPont’s earnings per share will be up by about 18-20% year on year from its full-year 2010 earnings per share.

($1 = €0.75)

For more on DuPont and other producers visit ICIS company intelligence


By: Stefan Baumgarten
+1 713 525 2653



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