Business News
DuPont 3Q 2010 Business Segment Performance
Thursday 28. October 2010 - The following is a summary of business results for each of the companys reportable segments, comparing third quarter 2010 with third quarter 2009, for sales and pre-tax operating income (PTOI). All references to selling price are on a U.S. dollar basis, including the impact of currency.
Agriculture & Nutrition
Includes Crop Protection, Pioneer Hi-Bred and Nutrition & Health businesses
Third quarter 2010 sales of $1.3 billion were up $27 million, or 2%, principally reflecting 5% higher volume, partially offset by Crop Protection portfolio changes of 3%. Increased sales primarily reflect technology penetration in the Latin American seed market and broad-based sales increase of Rynaxypyr insecticide. Segment PTOI for the third quarter was a loss of $181 million, compared to a loss of $113 million in the third quarter 2009, reflecting growth investments and the impact of divested businesses. Year-to-date sales were $7.5 billion, up 9% versus 2009 and year-to-date PTOI was $1.5 billion, up 15%.
Electronics & Communications
Third quarter 2010 sales of $703 million were up $161 million, or 30%, reflecting 24% higher volume and 6% higher selling prices, primarily pass-through of metals prices. Higher volume was driven by growth in all regions, particularly in Asia Pacific and Europe, and strong demand across most market segments, particularly in photovoltaics. PTOI of $126 million was up $49 million reflecting significantly higher volume.
Performance Chemicals
Includes Titanium Technologies and Chemicals & Fluoroproducts businesses
Third quarter 2010 sales of $1.7 billion were up $344 million, or 26%, reflecting 15% higher volume and 12% higher selling prices. The sales increase occurred in all regions, especially in North America and Asia Pacific, and was driven by strong demand across most market segments, particularly for titanium dioxide, fluoropolymers and industrial chemicals. PTOI was $292 million, an improvement of $85 million, primarily due to higher volume and selling prices.
Performance Coatings
Third quarter 2010 sales of $937 million were up $55 million, or 6%, on 5% higher volume. Results reflect continued strengthening in North American and European heavy duty truck markets, and increased demand in global automotive markets, most significant in North America. PTOI was $64 million, up 10% from higher volume.
Performance Materials
Includes Packaging & Industrial Polymers and Performance Polymers businesses
Third quarter 2010 sales of $1.6 billion were up $275 million, or 21%, with 19% higher volume and a 4% increase in selling prices. The higher volume reflects strong demand in automotive, electronic and packaging markets, with growth in all regions, particularly Asia Pacific. PTOI was $281 million, an improvement of 22% from higher volume and selling prices, partially offset by the absence of a $24 million benefit from insurance recoveries in 2009.
Safety & Protection
Includes Building Innovations, Protection Technologies and Sustainable Solutions businesses
Third quarter 2010 sales of $871 million were up $201 million, or 30%, primarily due to higher volume. Growth reflects increased demand for aramid and nonwoven products due to strengthening in industrial markets, and strong demand across all regions. PTOI was $134 million, an improvement of $76 million from higher volume and the absence of a $26 million asset impairment charge in 2009.