Home / Knowledge / News / Textiles / Dupont raises full-year guidance
Dupont raises full-year guidance
28
Apr '10
Dupont reports strong first-quarter 2010 EPS; raises full-year guidance.
Highlights:

• DuPont's first-quarter 2010 earnings per share were $1.24, compared to $.54 in the prior year.
• Sales were $8.5 billion, up 23 percent versus prior year. This reflects 19 percent higher volume, 2 percent higher local selling prices, a 3 percent benefit from currency and a 1 percent reduction from portfolio changes.
• Asia Pacific sales were $1.6 billion with volume up 65 percent in the quarter. Sales in Performance Polymers, Electronics & Communications, and Titanium Technologies were particularly strong. Volumes in emerging markets were also strong, up 28 percent.
• Raw material, energy and freight costs, adjusted for currency and volume, were about 2 percent lower versus prior year. The company expects these costs to trend higher as the year progresses, reflecting a full-year increase of about 5 percent.
• Spending increases for growth initiatives, primarily in Agriculture & Nutrition, and higher non-cash pension expense contributed to an increase in total fixed costs versus 2009. Continued productivity projects and restructuring savings improved fixed costs as a percentage of sales to 37 percent, which is comparable to pre-recession levels.
• Pharmaceuticals first-quarter pre-tax income was $221 million, about $60 million higher than anticipated. The company expects full-year Pharmaceuticals pre-tax income of $360-$400 million.
• DuPont increases its full-year 2010 earnings guidance to a range of $2.50 to $2.70 per share.The previous guidance was $2.15 to $2.45 per share.

“Our intense focus on customers, sustained R&D investments and productivity improvements are delivering growth,” said DuPont Chair and CEO Ellen Kullman. “Macro trends drove first-quarter demand for our science-based innovations, and DuPont was ready. The actions taken last year are benefiting the company as we emerge stronger in 2010.”

Global Consolidated Sales and Net Income
First-quarter 2010 consolidated net sales of $8.5 billion were 23 percent higher than the prior year. This reflects 19 percent higher volume, 2 percent higher local selling prices, and a 3 percent positive impact from currency exchange rates, partly offset by a 1 percent reduction from portfolio changes. The table below shows regional sales and variances versus first quarter 2009.

Net income attributable to DuPont for the first quarter 2010 was $1,129 million versus $488 million in the prior year. The improvement reflects significantly higher sales volume, increased manufacturing capacity utilization, higher selling prices, currency benefit and lower raw material costs, partly offset by fixed cost increases for growth investments and higher non-cash pension expense. The company's productivity and cost-cutting actions are essentially tracking according to plan.

Performance Chemicals – Sales of $1.4 billion increased $344 million, or 32 percent, reflecting a 30 percent increase in volume and 3 percent higher selling prices. The sales increase was primarily driven by strong continued recovery in titanium dioxide and fluoropolymers, with robust demand for refrigerants including strong adoption rates for ISCEON® as a preferred retrofit for R22. PTOI was $190 million, an improvement of $146 million, primarily due to higher volumes.


Must ReadView All

Apparel/Garments | On 28th Jul 2017

Aditya Birla Fashion Q1 revenue up 25% y-o-y

Driven by strong performance across all business segments, revenue...

Fashion | On 28th Jul 2017

Kering’s first half consolidated revenue up 28.2%

Kering has announced a consolidated revenue of €7,296.2 million for...

Courtesy: Business wire

Textiles | On 28th Jul 2017

Taiwan launches new products at Outdoor Retailer show

The Taiwan External Trade Development Council (TAITRA) hosted the...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Marten Alkhagen
Swerea IVF AB

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
61.1%
No
22.2%
Skip
16.7%

Total Votes: 18

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
33.3%
No
44.4%
Skip
22.2%

Total Votes: 18

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
5.6%
Skip
11.1%

Total Votes: 18

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
50.0%
No
11.1%
Skip
38.9%

Total Votes: 18


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



X