Diversified chemicals and agricultural products maker E I Du
Pont De Nemours And Co (
), also known as DuPont, on Thursday posted better-than-expected
first quarter earnings and reaffirmed its full-year outlook.
The Wilmington, DE-based company reported first quarter net
income of $1.49 billion, or $1.57 per share, compared with $1.43
billion, or $1.52 per share, in the year-ago period. Excluding
one-time items, adjusted profit was $1.61 per share.
Sales rose 12% from last year to $11.3 billion.
On average, Wall Street analysts expected a smaller profit of
$1.55 per share, on lower revenue of $11.23 billion.
Looking ahead, DD backed its previously-announced full-year
earnings outlook of $4.20 to $4.40 per share.
DuPont shares posted modest gains in premarket trading
The Bottom Line
Shares of DuPont (
) have a 3.08% dividend yield, based on last night's closing stock
price of $53.27. The stock has technical support in the $48-$50
price area. If the shares can firm up, we see overhead resistance
around the $56-$57 price levels.
E I Du Pont De Nemours And Co (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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, as well as a detailed explanation of
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