E.I. DuPont de Nemours & Co. (DD) reported second-quarter earnings of $1.37 per share, surpassing the Zacks Consensus Estimate by $0.04. Revenues reached $10.3 billion, compared with the Zacks Consensus Estimate of $9.95 billion. Earnings benefited from price increases that significantly outpaced higher costs for raw materials and energy.
The company remains vigilant in its focus on productivity with respect to fixed costs, variable costs and working capital, the expectation for continued global economic growth and about $.05 per share full-year operating earnings from Danisco on an underlying basis.
DuPont increased its full-year earnings guidance to between $3.90 and $4.05 from $3.65 to $3.85, due to stronger business results. We remain optimistic on the company and maintain our Outperform recommendation with a target price of $63.00.
DU PONT (EI) DE (DD): Free Stock Analysis Report
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