Chemicals and agricultural products maker DuPont (
) 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
The Bottom Line
Shares of DuPont (
) 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.
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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