July 28, 2010

DuPont posts solid Q2 earnings

DuPont Tuesday (Jul 27) reported a surge in its second-quarter 2010 earnings per share (EPS), reflecting improving volumes in all segments and all regions.

DuPont's second-quarter 2010 reported earnings per share were US$1.26, compared to $0.46 in second quarter 2009.  Sales were US$8.6 billion, up 26% versus 2009.  This reflects 21% higher volume, 5% higher local selling prices, a 1% benefit from currency, and a 1% reduction from portfolio changes.  Emerging markets sales increased by 32%.

"Our outstanding focus and disciplined execution delivered excellent results," said DuPont Chair and CEO Ellen Kullman. "DuPont's global team worked closely with customers, applying the breadth and depth of our science capabilities to meet market needs. We grew sales across every segment."

Several businesses, including electronics and titanium dioxide, delivered results that far exceeded pre-recession levels, Kullman said, adding that DuPont continues to hit productivity and cost-control targets, and remains highly disciplined in creating operating leverage to further grow the company.