DuPont Backs Forecast as Q1 Earnings Beat Expectations (DD)

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Diversified chemicals and agricultural products maker E I Du Pont De Nemours And Co ( DD ), 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 Thursday.

The Bottom Line
Shares of DuPont ( DD ) 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 ( DD ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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