DuPont (DD) Guides FY13 EPS Growth; Will Begin Reporting non-GAAP EPS

DuPont (NYSE: DD) announced its current outlook for 2013 earnings to grow low- to mid-single digits with sales growing in the low-single digits. The outlook reflects the view that all of the company's segments will deliver solid earnings growth versus 2012, except for Performance Chemicals, which is expected to be down substantially with margins decreasing six to seven percentage points in 2013. Excluding Performance Chemicals, the company would expect earnings growth of at least high-teens in 2013 versus 2012.

Additionally, the company announced its intention to begin reporting "operating earnings" (Non-GAAP) in 2013. Operating earnings is defined as earnings from continuing operations (GAAP) excluding significant items and non-operating pension and other postretirement employee benefit (OPEB) costs, which are impacted by changes in interest rates and plan returns. For the nine-month period ended Sept. 30, 2012, non-operating pension/OPEB costs were approximately $.36 per share on a continuing operations basis. The company will provide further information concerning the new reporting change later this week.

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