DuPont Q2 net income falls 12% on lower Ti02 pricing

23 July 2013 11:51  [Source: ICIS news]

LONDON (ICIS)--US chemicals producer DuPont announced on Tuesday that its net income for the second quarter of the year was $1.03bn (€783m), down 12% year on year, as “significantly” reduced titanium dioxide (Ti02) pricing offset agriculture sector gains.

Net sales were down 1% year on year at $9.84bn as a result of the Ti02 slump, despite an 7% increase in agriculture segment sales. Total segment operating earnings for the quarter were $1.9bn, down from $2.2bn during the same quarter in 2012.

Sales for the performance chemicals division during the quarter were down 9% year on year at $1.78bn, weighed down by Ti02 prices.

“Agriculture sales remained strong in the second quarter and titanium dioxide volume improved. As expected, this was largely offset by a substantial decline in performance chemicals earnings from last year’s peak levels,” said DuPont CEO Ellen Kullman.

Despite the falls, the company continues to predict full-year operating earnings to be about $3.85 per share.

By: Tom Brown
+44 208 652 3214

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