DuPont (DD) Slammed After Lowering FY11 Earnings Outlook
Tweet
Share
E-mail
Get Alerts DD Hot Sheet
Price: $138.33 --0%
Financial Fact:
Selling, general and administrative expenses: 1.02B
Today's EPS Names:
SQZB, RENO, LUNA, More
Financial Fact:
Selling, general and administrative expenses: 1.02B
Today's EPS Names:
SQZB, RENO, LUNA, More
Join SI Premium – FREE
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- nVent to acquire Maverick Power in deal valued up to $2.3B
- JPMorgan Upgrades East Japan Railway Co (9020:JP) to Overweight
- BTIG Reiterates Neutral Rating on MaxCyte Inc. (MXCT)
Create E-mail Alert Related Categories
Guidance, Hot Guidance, Hot ListRelated 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!
