| DuPont doubles down on cost cuts ahead of Dow Chemical merger | |
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(Reuters) - Chemicals and seed producer DuPont's (DD.N) quarterly profit topped analysts' estimates as the company intensifies its cost-cutting efforts ahead of its merger with Dow Chemical Co (DOW.N). The company said it expects full-year operating earnings of $2.95-$3.10 per share, compared with analysts' average estimate of $3.10 per share, according to Thomson Reuters I/B/E/S. Excluding $622 million of restructuring and other charges, fourth-quarter operating profit was 27 cents per share, slightly above analysts' average estimate of 26 cents. The company said its cost-reduction efforts added 10 cents to its profit in the three months ended Dec.31. Net loss attributable to the company was $253 million, or 29 cents per share, in the quarter, compared with a profit of $683 million, or 74 cents per share, a year earlier. Net sales fell 9.4 percent to $5.3 billion. Shares of DuPont, a Dow Jones industrial average component, have lost a quarter of their value over the last 12 months, closing at $52.99 on the New York Stock Exchange Monday. (This version of the story corrects workforce number to 54,000 from 63,000 in sixth paragraph) (Reporting by Amrutha Gayathri and Swetha Gopinath in Bengaluru; Editing by Shounak Dasgupta and Saumyadeb Chakrabarty)
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du Pont de Nemours and Co
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CODE : DUPP.PA |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
du Pont de Nemours is based in United states of america. du Pont de Nemours is listed in France. Its market capitalisation is €UR 49.7 billions as of today (US$ 55.5 billions, € 49.6 billions). Its stock quote reached its lowest recent point on March 06, 2009 at €UR 10.03, and its highest recent level on March 20, 2015 at €UR 72.47. du Pont de Nemours has 876 409 984 shares outstanding. |