Dupont (DD) Posts Q3 EPS of 23c, Misses Views; Cuts FY12 Outlook; Commences Restructuring
Dupont (NYSE: DD) reported Q3 EPS of $0.23, $0.24 worse than the analyst estimate of $0.47. Revenue for the quarter came in at $7.4 billion versus the consensus estimate of $8.14 billion.
Dupont sees FY2012 EPS of $3.25-3.30, versus the consensus of $3.93.
The company has commenced a restructuring plan to increase productivity, enhance competitiveness and accelerate growth. The plan will deliver pre-tax cost savings of about $450 million ($300 million in 2013) by eliminating corporate costs supporting Performance Coatings and taking additional cost-cutting actions to improve competitiveness. The restructuring plan includes eliminating about 1,500 positions globally in the next 12-18 months. In addition, the company remains on track to achieve its full-year 2012 productivity targets for both fixed costs and working capital.
For earnings history and earnings-related data on Dupont (DD) click here.
Dupont sees FY2012 EPS of $3.25-3.30, versus the consensus of $3.93.
The company has commenced a restructuring plan to increase productivity, enhance competitiveness and accelerate growth. The plan will deliver pre-tax cost savings of about $450 million ($300 million in 2013) by eliminating corporate costs supporting Performance Coatings and taking additional cost-cutting actions to improve competitiveness. The restructuring plan includes eliminating about 1,500 positions globally in the next 12-18 months. In addition, the company remains on track to achieve its full-year 2012 productivity targets for both fixed costs and working capital.
For earnings history and earnings-related data on Dupont (DD) click here.