DuPont quarterly sales drop, income rises

RUBBER & PLASTICS NEWS

Published: July 23, 2014 12:46 pm ET
Updated: July 23, 2014 12:51 pm ET

Image By: DuPont Co. DuPont CEO Ellen Kullman

Related to this story

Topics Materials Materials Suppliers
Companies & Associations DuPont Co.

DuPont Co.’s sales and net income experienced slight changes for the second quarter 2014, as operating earnings dropped to $1.17 per share in the second quarter, down from $1.28 per share in 2013.

The firm’s net income increased slightly to about $1.07 billion, up $40 million from 2013. However for the half year, net income is down to about $2.52 billion compared to $4.39 billion in 2013.

DuPont’s sales decreased by 1 percent to about $9.71 billion in the second quarter compared to $9.84 billion in 2013. Sales also declined for the six-month period, down to about $19.8 billion compared to $20.3 billion in 2013.

The company’s Performance Chemicals segment was its second-largest performer sales wise for the three-month period, reporting sales of about $1.7 billion. That, however, was down 8 percent compared to 2013. Operating earnings were down $17 million, or 6 percent, to $251 million.

Chair and CEO Ellen Kullman said DuPont will move ahead with its planned separation of its Performance Chemicals segment, which is still on track for mid-2015. She said DuPont has launched the initial stage of a broad initiative to reset the firm’s operating model.

“This work is already gaining traction and will continue to expand, positioning DuPont to drive greater growth and value with a simplified, streamlined support structure and a smaller cost base—consistent with the purpose, strategy and needs of the DuPont company, post separation,” she said.

DuPont’s Performance Materials business was its third best performer among its seven primary business segments, recording sales of about $1.58 billion, which was down 2 percent compared to 2013. Operating earnings decreased $29 million, or 9 percent, to $303 million.

The firm’s largest segment was Agriculture, recording sales of about $3.62 billion, which DuPont said was no change from 2013. However, the firm reported an 11 percent decrease in earnings to $836 million.

“While lower agriculture earnings impacted our results this quarter, we continue to see strong science driven growth in this segment over the long term,” Kullman said. “We are steadily advancing DuPont’s strategy to build and strengthen world-leading positions in agriculture and nutrition, bio-based industrials and advanced materials.”

Regionally, the U.S. and Canada accounted for about $4.6 billion of its total second quarter sales, which dropped 3 percent compared to 2013. Its sales in the Europe, Middle East and Africa region increased 2 percent to about $2.12 billion, while sales in the Asia Pacific held at about $2.09 billion. Sales in Latin America dropped 4 percent to $895 million.


Comments

DuPont quarterly sales drop, income rises

RUBBER & PLASTICS NEWS

Published: July 23, 2014 12:46 pm ET
Updated: July 23, 2014 12:51 pm ET

Post Your Comments


Back to story


More stories

Image

North American Pipe unit lab to focus on 'modern, innovative' formulations

March 31, 2015 3:25 pm ET

North American Specialty Products LLC — a unit of North American Pipe Corp. — has opened a new material science lab in Leola, Pa.    More

Image

Top suppliers of engineering polymers

March 31, 2015 12:16 pm ET

   More

Image

Polymer Additives, Lubrizol expansions win tax incentives

March 31, 2015 10:22 am ET

Proposed expansions by Polymer Additives Inc. in Cuyahoga County, Ohio, and Lubrizol Corp. in Lake County, Ohio, were among 12 projects statewide...    More

Image

BPF warns of materials shortages

March 31, 2015 10:11 am ET

The British Plastics Federation (BPF) has warned the whole plastics supply chain that plastics processors are currently facing shortages of certain ke...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events