DuPont’s Q2 Profit Easily Beats View; Outlook Raised (DD)

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Diversified products maker E.I. du Pont de Nemours & Company ( DD ) , aka DuPont, said Tuesday that its second quarter profit nearly tripled from last year, prompting the company to raise its full-year outlook.

The Wilmington, DE-based company reported second quarter net income of $1.16 billion, or $1.26 per share, compared with $417 million, or 46 cents per share. Excluding a one-time tax settlement gain, adjusted profit was $1.17 per share.

Revenue jumped 26% from last year, to $8.62 billion.


On average, Wall Street analysts expected a much smaller profit of 93 cents per share, on lower revenue of $8.27 billion.

Looking ahead, the company boosted its full-year outlook to a range of $2.90 to $3.05 per share, up from a prior outlook of $2.50 to $2.70 per share. That new outlook would easily surpass analyst expectations for $2.64 per share for the year.

DuPont shares rose $1.81, or +4.6%, in premarket trading Tuesday.

The Bottom Line
We removed DuPont from our "recommended" list last Sept. 26, at a price of $42.61. The company currently has a dividend yield of 4.21%, based on last night's closing price of $38.99. The stock has technical support in the $34-$36 price area. If the shares can firm up, we see overhead resistance around the $42-$43 price levels. We would remain on the sidelines for now.

E.I. du Pont de Nemours & 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 The NASDAQ OMX Group, Inc.

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