DuPont Sees 5% Decrease In H1 EPS - Quick Facts

(RTTNews) - Chemical giant EI DuPont De Nemours & Co. (DD) or DuPont said that it expects first-half 2017 GAAP earnings per share of about $2.42, a decrease of about 5 percent from prior year.

First-half 2017 operating earning per share are expected to be about $2.90, an increase of about 16 percent versus prior year primarily driven by sales growth. The increase in sales is due to the impact of the change in timing of seed deliveries, primarily related to the southern U.S route-to-market change in Agriculture, and strength in global automotive markets. These benefits are anticipated to be partially offset by the expected reduction in planted corn acres in North America and higher product costs in Performance Materials and Agriculture.

The company's first-half 2017 GAAP earnings included an expected net charge of about $0.32 per share for significant items primarily related to transaction costs associated with the planned merger with Dow. Prior year GAAP earnings included a net benefit of $0.20 per share from significant items, primarily due to a gain on the sale of an entity.