Dupont raises full-year guidance

28 Apr '10

4 min read

Performance Coatings – Sales of $902 million increased $170 million, or 23 percent, reflecting 17 percent higher volumes and a 6 percent increase in selling prices. Volumes reflect higher demand in global automotive OEM markets, and strong demand in Asia Pacific. PTOI was $45 million, up $120 million, reflecting higher volumes, lower raw material costs, and fixed cost productivity improvements including restructuring programs.

Performance Materials – Sales of $1.5 billion increased $592 million, or 63 percent, reflecting 56 percent
higher volumes and a 7 percent increase in selling prices. The higher volumes were led by improvement in automotive, industrial, consumer and electronic markets, with strong volume recovery in all regions, led by Asia Pacific and Europe. PTOI was $230 million, an improvement of $376 million, primarily driven by higher volumes, lower raw material costs, and fixed cost productivity improvements including restructuring programs.

Outlook
DuPont increased its full-year earnings guidance to a range of $2.50-$2.70 per share from its previous range of $2.15-$2.45 per share. The new outlook reflects expected stronger sales growth and improved pre-tax operating margins, supported by continuing global economic expansion with particularly strong demand in Asia Pacific. The company expects free cash flow to be about $200 million higher than originally anticipated, and has increased its outlook from greater than $1.5 billion to more than $1.7 billion.

Dupont

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