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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • DuPont Reports 12% Second Quarter Earnings Decline  0 comments
    Jul 24, 2013 8:54 AM | about stocks: DFT

    Originally published at www.seclive.com

    DuPont (DFT) announced its second quarter financial results, reporting a 12% decline in earnings that it attributes to lower pricing of titanium dioxide. The company reported net income of $1.03B, down from $1.17B last year, with earnings per share down similarly from $1.17 per share, to $1.11 earnings per share. DuPont's performance fell just short of expectations, with projected earnings per share of $1.27 and revenue of $10.04B, which the company reported $9.8B. The demand for titanium dioxide, a common whitening pigment with a wide application ranging from toothpaste to paint and automotive, has slowly dropped over the last year. DuPont CFO Nick Fanandakis remarked that the company is in a good position for the long run with respect to titanium dioxide, which alone led to $7.2B in sales in fiscal 2012. DuPont has in recent months seriously considered the prospect of a spin-off of its performance chemicals unit.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: DFT
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