DuPont (DD) Slammed After Lowering FY11 Earnings Outlook
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Basic earnings per share of common stock: 0
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Financial Fact:
Basic earnings per share of common stock: 0
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Shares of DuPont (NYSE: DD) are trading sharply lower in pre-open trade Friday after the company lowered its 2011 full-year earnings outlook
The company now sees earnings per share in a range of $3.87-$3.95, which is below the consensus of $4.03.
"We are seeing slower growth in certain segments during the fourth quarter, driven by global economic uncertainty. This uncertainty is contributing to ongoing conservative cash management in some supply chains," said DuPont Chair and CEO Ellen Kullman.
The company cited destocking across polymers and certain industrial supply chains. They also said consumer electronics demand has further softened, and housing and construction markets remain weak.
Shares of DuPont last traded at $43.84, down 5.8 percent.
The company now sees earnings per share in a range of $3.87-$3.95, which is below the consensus of $4.03.
"We are seeing slower growth in certain segments during the fourth quarter, driven by global economic uncertainty. This uncertainty is contributing to ongoing conservative cash management in some supply chains," said DuPont Chair and CEO Ellen Kullman.
The company cited destocking across polymers and certain industrial supply chains. They also said consumer electronics demand has further softened, and housing and construction markets remain weak.
Shares of DuPont last traded at $43.84, down 5.8 percent.
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