Shares of DuPont (DD) Sell-Off Amid Mixed Q4 Results, Reaffirmed FY12 Guidance
Tweet
Share
E-mail
Get Alerts DD Hot Sheet
Price: $73.96 +0.22%
Revenue Growth %: -6.3%
Financial Fact:
Research and development expense: 410M
Today's EPS Names:
NLY, CP, RUSHA, More
Revenue Growth %: -6.3%
Financial Fact:
Research and development expense: 410M
Today's EPS Names:
NLY, CP, RUSHA, More
Join SI Premium – FREE
DuPont (NYSE: DD) shares are underperforming the broader stock market Tuesday following fourth-quarter 2011 results. The stock last traded at $49.02, down nearly 0.7 percent from Monday's close.
Sales grew 14 percent to $8.4 billion, largely driven by a 14 percent increase in local prices. The Street’s consensus was calling for total sales of $8.53 billion. A 10 percent net increase from portfolio changes was offset by a 10 percent volume decline.
Fourth-quarter net income attributable to DuPont was $373 million versus $376 million in the fourth quarter 2010. Earnings were $0.35 per share, versus earnings of $0.50 per share, excluding significant items, in the same quarter last year. The Street’s consensus was calling for earnings of $0.33 per share.
The cost of goods sold and other operating charges rose 12.8 percent to $6.685 billion. R&D expenses rose 13.7 percent to $538 million, while selling and administrative expenses rose 13.7 percent to $993 million.
The company ended the year with $3.586 billion in cash and cash equivalents, down 15.8 percent year over year.
DuPont reaffirmed its full-year 2012 adjusted-earnings outlook of $4.20 to $4.40 per share, an increase of 7 to 12 percent versus 2011. The Street is currently forecasting earnings of $4.26 per share.
"We delivered exceptional full-year results in 2011 despite significant market headwinds late in the year," said DuPont Chair and CEO Ellen Kullman. "Our market-driven science continues to meet customer needs in food, energy and protection. Acquisitions in Nutrition & Health and Industrial Biosciences, coupled with robust and disciplined productivity efforts across our businesses, contributed to our successful performance. We remain well-positioned to serve customers and innovate as key markets rebound and global population growth drives new opportunities."
Sales grew 14 percent to $8.4 billion, largely driven by a 14 percent increase in local prices. The Street’s consensus was calling for total sales of $8.53 billion. A 10 percent net increase from portfolio changes was offset by a 10 percent volume decline.
Fourth-quarter net income attributable to DuPont was $373 million versus $376 million in the fourth quarter 2010. Earnings were $0.35 per share, versus earnings of $0.50 per share, excluding significant items, in the same quarter last year. The Street’s consensus was calling for earnings of $0.33 per share.
The cost of goods sold and other operating charges rose 12.8 percent to $6.685 billion. R&D expenses rose 13.7 percent to $538 million, while selling and administrative expenses rose 13.7 percent to $993 million.
The company ended the year with $3.586 billion in cash and cash equivalents, down 15.8 percent year over year.
DuPont reaffirmed its full-year 2012 adjusted-earnings outlook of $4.20 to $4.40 per share, an increase of 7 to 12 percent versus 2011. The Street is currently forecasting earnings of $4.26 per share.
"We delivered exceptional full-year results in 2011 despite significant market headwinds late in the year," said DuPont Chair and CEO Ellen Kullman. "Our market-driven science continues to meet customer needs in food, energy and protection. Acquisitions in Nutrition & Health and Industrial Biosciences, coupled with robust and disciplined productivity efforts across our businesses, contributed to our successful performance. We remain well-positioned to serve customers and innovate as key markets rebound and global population growth drives new opportunities."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Nanometrics (NANO) Issues Business Update, Reports FY23 Results
- Plexus Corp (PLXS) Tops Q2 EPS by 7c
- Alerus Financial Corporation (ALRS) Reports In-Line Q1 EPS
Create E-mail Alert Related Categories
Corporate News, EarningsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
