DD US --> -1.8% PRe open
DuPont misses by $0.03, misses on revs; reduces outlook for Agriculture segment
Reports Q2 (Jun) earnings of $1.18 per share, $0.03 worse than the Capital IQ Consensus Estimate of $1.21; revenues fell 12.2% year/year to $8.88 bln vs the $8.97 bln consensus.
- Co reduces guidance for FY15, sees EPS of $3.10, excluding $0.80 per share of anticipated full-year earnings from the Performance Chemicals segment, may not be comparable to $3.60 Capital IQ Consensus Estimate. This represents a $0.10 per share reduction from the prior outlook of $4.00 per share, which included the Performance Chemicals segment.
- Consistent with continuing weakness in global agricultural markets, the company is reducing expectations for the year in its Agriculture segment due to weaker demand in global crop protection markets, reduced expectations for corn area in Latin America, and lower than expected soybean volumes in North America. The company continues to anticipate that the operational redesign will deliver savings of approximately $0.40 per share in 2015. As a result, the company expects operating earnings per share for 2015 to be about $3.10 per share for the full year