DuPont (DD) Reaffirms Long-Term Growth Outlook During Investor Day
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Research and development expense: 410M
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Financial Fact:
Research and development expense: 410M
Today's EPS Names:
EDXC, BICX, FBPI, More
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During DuPont's (NYSE: DD) 2011 Investor Day, Chair and CEO Ellen Kullman and the company's senior leaders detailed the dynamic global growth strategy for continuing to deliver strong, sustainable results in 2012 and beyond, contributing to 7 and 12 percent compound annual growth rates for sales and earnings, respectively, in the coming years.
"Science-powered, market-driven innovation remains the cornerstone of the company," Kullman said. "DuPont expects nearly $12 billion of revenue from products introduced in the previous four years, roughly 30 percent of company sales in 2011. That demonstrates the power of our innovation."
Kullman said DuPont expects to deliver $300 million of both fixed cost and working capital productivity in 2012. In addition, she said DuPont will deliver $130 million in cost synergies from the Danisco acquisition in 2012, one year ahead of the original plan.
DuPont expects full-year 2011 sales to be up about 20 percent, with double digit increases in most segments. Sales in developing markets are expected to jump 30 percent this year, comprising about one-third of total company sales. Earnings are expected to be up between 18-20 percent. These results reflect a comprehensive approach to target and grow in these markets, including opening new innovation centers in South Korea, Taiwan, Thailand and India in 2011.
DuPont announced guidance for 2012 earnings per share in the range of $4.20-$4.40, representing 7-12 percent growth versus the 2011 guidance midpoint. This range includes about $.17 of additional pension expense. Excluding these additional pension costs, guidance for next year would represent 12-17 percent growth. The company expects sales in the range of $40-$42 billion.
"Science-powered, market-driven innovation remains the cornerstone of the company," Kullman said. "DuPont expects nearly $12 billion of revenue from products introduced in the previous four years, roughly 30 percent of company sales in 2011. That demonstrates the power of our innovation."
Kullman said DuPont expects to deliver $300 million of both fixed cost and working capital productivity in 2012. In addition, she said DuPont will deliver $130 million in cost synergies from the Danisco acquisition in 2012, one year ahead of the original plan.
DuPont expects full-year 2011 sales to be up about 20 percent, with double digit increases in most segments. Sales in developing markets are expected to jump 30 percent this year, comprising about one-third of total company sales. Earnings are expected to be up between 18-20 percent. These results reflect a comprehensive approach to target and grow in these markets, including opening new innovation centers in South Korea, Taiwan, Thailand and India in 2011.
DuPont announced guidance for 2012 earnings per share in the range of $4.20-$4.40, representing 7-12 percent growth versus the 2011 guidance midpoint. This range includes about $.17 of additional pension expense. Excluding these additional pension costs, guidance for next year would represent 12-17 percent growth. The company expects sales in the range of $40-$42 billion.
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