E. I. du Pont de Nemours and Company
) provided an update on the advancements of its agriculture
research pipeline as well an insight on its growth drivers for
2013 at the Goldman Sachs 17th Annual Agribusiness Conference.
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DuPont stated that it is addressing the growing needs of people
related to protein-rich diets and nutritious foods. The company
is providing options and local solutions, which meet the global
DuPont also highlighted the 2013 agriculture research pipeline
that facilitates the development of products including germplasm,
native and biotech traits. The pipeline includes 12 product
advancements including 4 program additions as a result of
sustained R&D efforts.
DuPont has come up with a number of commercial products like
Optimum AQUAmax hybrids, Optimum AcreMax insect protection,
Optimum AcreMax Xtra and Optimum Intrasect, which have been
promising and have positioned the company for continuous growth.
DuPont is witnessing strength in its agriculture and food
businesses. On Jan 22, the company posted adjusted earnings from
continuing operations (excluding the performance coatings
business) of 11 cents per share for fourth-quarter 2012, beating
the Zacks Consensus Estimate by a couple of cents. Net sales were
essentially flat year over year at $7,325 million but exceeded
the Zacks Consensus Estimate of $7,253 million.
Despite unfavorable currency exchange swings, the Agriculture
segment delivered healthy sales in the fourth quarter boosted by
higher volume and strong performance of the crop protection
business. The company expects continued strong growth in crop
protection in 2013 driven by new products.
DuPont currently holds a short-term Zacks Rank #3 (Hold).
Other companies in the chemical industry with favorable Zacks
Akzo Nobel NV
). All three retain a Zacks Rank #1 (Strong Buy).