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DuPont (DD) Tops Q3 EPS by 1c, Sales Miss

October 28, 2014 6:21 AM

DuPont (NYSE: DD) reported Q3 EPS of $0.54, $0.01 better than the analyst estimate of $0.53. Revenue for the quarter came in at $7.5 billion versus the consensus estimate of $7.95 billion.

"In the third quarter, we improved our operating margins in five of seven segments and grew operating earnings per share 20 percent, despite a weaker Ag environment and sluggish economic growth in most of the world," said DuPont Chair and CEO Ellen Kullman. "Our increase in margins in a slow growth environment reflects the momentum we are building as we execute our plan, which is driving new products, portfolio enhancements and a broad initiative to redesign our operating model with a smaller cost base and a simplified support structure. We are positioning DuPont for our next stage of growth, while increasing returns to our shareholders."

For the fourth quarter, the company expects sluggish growth in the global economy, along with continuing headwinds in agriculture and from currency. However, the company remains confident in its ability to create higher value from its portfolio while continuing to deliver against cost productivity and corporate initiatives. Overall, the company expects fourth quarter operating earnings per share to grow about 20 percent from last year's $0.59 per share, matching the growth rate the company achieved in the third quarter, and bringing full year 2014 operating earnings within its previously communicated outlook range of $4.00 - $4.10 per share.

For earnings history and earnings-related data on DuPont (DD) click here.

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