DuPont’s fourth quarter earnings dropped, but topped analysts’ expectations.
Earnings per share closed at 11 cents, down from last year’s fourth quarter figure of 26 cents per share, but exceeded analysts’ predictions of 7 cents per share.
Sales in the fourth quarter remained flat at seven point three billion dollars, while full year figures closed up three percent at 34 point eight billion dollars.
Agriculture products gained 18 percent in sales from Latin American buyers, but Performance Chemicals sales dropped by 15 percent.
Full year earnings were down with DuPont earning about $2.8 billion, or $2.95 per share compared to $3.5 billion, or $3.68 per share a year ago.
"DuPont stands stronger today than it did a year ago. Our segments delivered innovation, productivity and integration cost synergies. This, coupled with a record year in new production introductions, has strengthened our market position,” said DuPont CEO Ellen Kullman in a statement. “However, weaknesses in our markets served by Performance Chemicals and Electronics and Communications provided significant challenges in 2012. We’ve adjusted our plans to meet the changing environment and grow our business in a slow-growth world economy.”
Looking ahead, company analysts predict 2013 earnings to jump by as much as seven percent.
