DuPont Details Plan for Delivering Growth in 2010
November 16, 2009
NEW YORK, NY – At the Goldman Sachs Industrials Conference, DuPont CEO Ellen Kullman outlined how DuPont expects to deliver 20 percent compound annual earnings growth for the 2009-2012 period.
“We are focused on achieving higher revenue and earnings growth rate for our company and delivering increased value to our shareholders,” Kullman said. “By delivering on the commitments we made at the start of 2009, DuPont is meeting the economic recovery as a stronger, faster and more agile global competitor. We are well positioned to outperform the rate at which markets recover and improve.”
DuPont expects to generate about 10 percent top-line compound annual growth for the 2009-2012 period, Kullman said. The company also plans to capture $1 billion in fixed cost productivity and $1 billion in working capital productivity gains during the 2010-2012 timeframe.
Kullman said DuPont expects to deliver, on average, 20 percent earnings per share growth, from 2009 estimated full-year earnings on a year-over-year basis through 2012. She said that DuPont expects to grow earnings in 2010, despite anticipated declines in pharmaceutical royalties after patents expire in 2010, to a range of $2.10 to $2.40 per share.
Kullman also reaffirmed the company’s full-year 2009 earnings outlook of $1.95 to $2.05 per share, excluding significant items, which are estimated to be $0.15 per share for full-year 2009 or $1.80 to $1.90 per share on a reported basis.