DuPont’s Q3 Profit Rises, Beating View; Low-End of Guidance Raised (DD)

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Chemicals maker DuPont Company ( DD ) 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 Tuesday.

The Bottom Line
Shares of DuPont ( DD ) 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 ( 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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