DuPont Reports Fourth Quarter 2009 EPS of $.48; Increases 2010 Guidance Results Reflect Improving Volumes in all Regions

Results Reflect Improving Volumes in all RegionsHighlights:DuPont's fourth-quarter 2009 earnings were $.48 per share, compared to a fourth-quarter 2008 loss of $.70 per share.

Excluding significant items, fourth-quarter 2009 earnings were $.44 per share versus a $.28 per share loss in the prior year (see Schedule B.)

Sales of $6.4 billion were up 10 percent versus prior year, led by sales growth greater than 20 percent for titanium dioxide, electronic materials, performance polymers and seed products.

Volume grew 10 percent, with increases in all regions. Asia Pacific sales exceeded pre-recession levels with volume up 34 percent versus prior year, reflecting very strong demand in China, Japan, Korea and India.* Raw material, energy and freight costs for the fourth-quarter were about 20 percent lower after adjusting for currency and volume.

The company exceeded its full-year goal to deliver $1 billion of fixed cost reductions and productivity actions.

Full-year 2009 earnings were $1.92 per share versus $2.20 in 2008. Excluding significant items, 2009 earnings were $2.03 per share versus $2.78 in the prior year.

Full-year free cash flow of $3.4 billion achieved the company's goal, reflecting capital productivity and favorable currency impact. DuPont increased its full-year 2010 earnings guidance to a range of $2.15 to $2.45 per share. The previous guidance was $2.10 to $2.40 per share.

"Across the organization, DuPont delivered on its commitments in 2009," said DuPont (NYSE: DD) Chair and CEO Ellen Kullman. "We intend to emerge stronger in 2010 by building on the work we accomplished last year, with a focus on sales growth through market-driven innovation and operating leverage. We remain committed to compound annual growth targets of 10 percent for top-line and 20 percent for earnings through 2012."

Global Consolidated Sales and Net Income

Fourth-quarter 2009 consolidated net sales of $6.4 billion were 10 percent higher than prior year, reflecting 10 percent higher volume, 3 percent lower local prices, a 4 percent positive impact from currency exchange rates and a 1 percent reduction from portfolio changes. The table below shows regional sales and variances versus fourth-quarter 2008.

Read the full report here.

600450 DuPont Reports Fourth Quarter 2009 EPS of $.48; Increases 2010 Guidance Results Reflect Improving Volumes in all Regions

See more news about:

Others also read

Latest Report on the Window, Door and Facade Industries in China
China now is the largest manufacturer and user of architectural doors and windows and facades in the globe. The number of industry players in the construction industry of doors, windows and facades in China is approximately 6.8 million at present.
Prof. Ahmet Kırman
Şişecam Group reported consolidated net sales of TL 3.1 billion and a net profit of TL 569 million in the first quarter ended March 31, 2018. The Group's consolidated EBITDA reached TL 907 million for the same period.
Bigger and Busier: Windoor Expo 2018 Concluded Successfully with a Total of 64,518 Visitors
Windoor Expo is the ultimate industry event in China connecting architects, builders, contractors, fabricators, real estate developers and traders.
Orders received grew 23%, comparable operating profit at previous year’s level.
Greenbuild Releases 2017 Sustainability Report
Informa Exhibitions U.S. and the USGBC announced the release of the 2017 Greenbuild Sustainability Report, highlighting valuable metrics and key benchmarks regarding the impact on energy use and waste management.
A Promising Future of Aluminum Curtain Wall Technology
The global Aluminum Curtain Wall market was valued at USD 25.1 billion in 2017 and is anticipated to grow at a CAGR of more than 9.3% during the forecast period.

Add new comment