Home / Knowledge / News / Textiles / Dupont posts marginal rise in Q1 sales
Dupont posts marginal rise in Q1 sales
27
Apr '13
DuPont reaffirmed its full year 2013 EPS outlook and announced a 5% dividend increase.

DuPont  announced first quarter 2013 operating earnings per share (EPS) of $1.56 versus prior year earnings of $1.64.  GAAP1 EPS from continuing operations was $1.47 versus $1.48 in the prior year. 

Primary drivers of results for the quarter were record Agriculture operating earnings offset by an expected decline in Performance Chemicals. DuPont reaffirmed its full year 2013 EPS outlook and today announced a 5% dividend increase.

1Q 2013 Highlights

- Sales of $10.4 billion were up 2%, reflecting volume growth.  A 1% increase in local prices was offset by currency impact.

-  Record Agriculture operating earnings of $1.5 billion were up 13%.  Sales increased 14% driven by strong volume growth, particularly in North America and Latin America, and higher pricing from new seed and crop protection products.    

- Total segment operating earnings of $2.3 billion were down 8%, largely due to a $320 million decline (about $.26 EPS) in Performance Chemicals from last year’s high levels.    

- The company completed the sale of the Performance Coatings segment, executed a $1 billion share buyback and reduced its net debt.

- Cost productivity gains and restructuring savings are on track to meet or exceed full year targets.

- The company reaffirms its outlook for full-year 2013 operating earnings of $3.85-$4.05 per share, an increase of 2-7% from $3.77 per share earned in 2012.

“The first quarter finished as expected, with the strong Agriculture performance and Performance Chemicals’ decline from peak levels last year,” said DuPont Chair and CEO Ellen Kullman.

“Our strategies for growth and improved return on capital are working as we continue to focus on delivering science-powered innovation and industry-leading productivity improvement.  We remain committed to delivering value to our shareholders as demonstrated by executing our share buyback, strengthening our balance sheet and increasing our dividend.”

Dupont

Must ReadView All

Textiles minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search