DuPont’s Profit Slips 15%, but Still Beats View; Forecast Raised (DD)

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Chemicals maker DuPont Company ( DD ) on Tuesday said its fourth quarter profit fell 15% from last year, but results still easily bested analyst estimates.

The Wilmington, DE-based company reported fourth quarter net income of $376 million, or 40 cents per share, down from $441 million, or 48 cents per share, in the year-ago period. Excluding special items, adjusted profit was 50 cents per share.

On average, Wall Street analysts expected a much smaller profit of 31 cents per share.

The company also said that revenue rose 15% from last year to $7.4 billion. Looking ahead, it boosted its full-year profit outlook to a range of $3.45 to $3.75 per share, up from a prior forecast for $3.30 to $3.60 per share.

DuPont shares rose 26 cents, or +0.5%, in premarket trading Tuesday.

The Bottom Line
Shares of Dupont ( DD ) have a 3.35% dividend yield, based on last night's closing stock price of $48.89. The stock has technical support in the $44 price area. If the shares can firm up, we see overhead resistance around the $52-$53 price levels.

DuPont Company ( 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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