Chemicals maker DuPont Company (
) early Tuesday posted a 23% gain in third quarter earnings on
sharply higher sales, beating analyst estimates.
The Wilmington, DE-based company reported third quarter net
income of $452 million, or 48 cents per share, compared with $367
million, or 40 cents per share, in the year-ago period. Excluding
one-time items, adjusted profit was 69 cents per share.
Sales surged 33% from last year to $9.4 billion.
On average, Wall Street analysts expected a smaller profit of 56
cents per share, on much lower revenue of $8.79 billion.
Looking ahead, DD lifted the low-end of its full-year earnings
outlook by 7 cents. It now expects earnings to range from $3.97 to
$4.05 per share for the year.
DuPont shares rose 71 cents, or +1.5%, in premarket trading
The Bottom Line
Shares of DuPont (
) have a 3.56% dividend yield, based on last night's closing stock
price of $46.09. The stock has technical support in the $42-$44
price area. If the shares can firm up, we see overhead resistance
around the $48-$50 price levels.
DuPont Company (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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