Business News

DuPont Expects Higher 1Q Earnings

Thursday 10. April 2008 - DuPont (NYSE:DD) today raised its first quarter 2008 earnings estimate to about $1.29 per share, compared to its previous outlook of $1.14 to $1.19 per share which was provided March 14.

This represents more than 20 percent growth in earnings in the first quarter. Last year, the company reported first quarter earnings of $1.01 per share, including a $.06 special item charge.

Higher first quarter 2008 earnings compared to last year reflect strong growth in DuPont’s agriculture businesses combined with rapid growth in emerging markets. The strength in the first quarter is expected to more than offset continued weakness in U.S. construction and automotive markets. In addition, price and productivity gains, along with favorable currency effects, are expected to overcome the impact of significantly higher raw material costs.

For the first half of 2008, DuPont expects earnings growth of about 10 percent, with second quarter earnings about equal to 2007 at $1.05 per share. DuPont also raised the lower end of its full-year 2008 earnings outlook by five cents to a range of $3.40 to $3.55 per share. The company expects that slowing in U.S. markets, including housing and automotive, will offset growth in agriculture and other markets outside the United States.

“Growth in agriculture and emerging markets, along with continued cost productivity gains, are enabling us to overcome challenges in certain U.S. markets and higher cost ingredients,” said Charles O. Holliday, Jr., DuPont chairman and chief executive officer. “While the macroeconomic outlook remains difficult to predict, we are focused on our priorities to capitalize on rising global demand for our products; further penetrate key markets in the world’s rapidly growing geographies; and extend our productivity improvement programs.”