DuPont performing well, with the exception of TiO2 – analyst

12 December 2012 16:52  [Source: ICIS news]

HOUSTON (ICIS)--DuPont is performing well, with the exception of its titanium dioxide (TiO2) business, an analyst said on Wednesday.

Deutsche Bank analyst David Begleiter said that even though DuPont’s 2013 earnings per share guidance was below consensus estimates, the shortfall was due to Ti02.

The TiO2 weakness, however, was not a surprise, Begleiter said, noting that TiO2 was becoming a smaller part of DuPont's earnings – estimated at 10% of 2013 earnings, compared with 19% in 2012 and 24% in 2011.

DuPont announced late Tuesday that it expects 2013 earnings to “grow low- to mid-single digits”, with sales growing in the low-single digits.

Excluding performance chemicals, which includes TiO2, the company expects earnings growth of "at least high-teens" in 2013, compared with 2012.

For 2012, DuPont’s earnings per share guidance is at the high end of a $3.25-$3.30 (€2.50-2.54) range on a continuing operations basis, excluding significant items, it said.

According to Deutsche Bank, key risks for DuPont in 2013 include losses in US corn seed market share, a stronger US dollar, lower TiO2 prices, higher raw material costs, slowing in the research and development pipeline and reduced government subsidies for solar.

($1 = €0.77)


By: Stefan Baumgarten
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index

Related Articles