DuPont Boosts Outlook as Q2 Profit Rises (DD)

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Chemicals and agricultural products maker DuPont ( DD ) on Thursday posted better-than-expected second quarter earnings and raised its full-year outlook.

The Wilmington, DE-based company reported second quarter net income of $1.22 billion, or $1.29 per share, compared with $1.16 billion, or $1.26 per share, in the year-ago period. Excluding one-time items, adjusted profit was $1.37 per share.

Net sales surged 19% from last year to $10.26 billion.

On average, Wall Street analysts expected a smaller profit of $1.17 per share, on lower revenue of $9.86 billion.

Looking ahead, the company boosted its full-year earnings outlook to a range of $3.90 to $4.05 per share, up from a prior forecast of $3.65 to $3.85. That new outlook is ahead of analyst estimates of $3.87 per share for the year.

DuPont shares posted slight gains in premarket trading Thursday.

The Bottom Line
Shares of DuPont ( DD ) have a 3.14% dividend yield, based on last night's closing stock price of $52.28. The stock has technical support in the $48-$50 price area. If the shares can firm up, we see overhead resistance around the $54-$57 price levels.

DuPont ( DD ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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 Nasdaq, Inc.

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