DuPont (DD) Tops Q2 EPS by 11c, Revenues Beat; Offers 3Q EPS Outlook

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Go back to DuPont (DD) Tops Q2 EPS by 11c, Revenues Beat; Offers 3Q EPS Outlook

DuPont takes $2.5 billion charge tied to auto business, posts wider loss

July 30, 2020 6:04 AM EDT

(Reuters) - DuPont (NYSE: DD) reported a bigger second-quarter loss on Thursday and wrote down the value of its automotive business by $2.5 billion as the industrial materials giant struggles with a prolonged weakness in one of its biggest markets.

DuPont, which makes materials used in products ranging from engine covers to brake fluid, is heavily exposed to the auto industry, which has been among the hardest hit after the coronavirus lockdowns emptied roads and... More