WILMINGTON, DE – DuPont has released its second-quarter earnings, with earnings per share at $1.26, compared to $.46 in the prior year. Excluding significant items from both periods, earnings for the second quarter were $1.17 per share versus $.61 per share in the prior year. Sales were $8.6 billion, up 26 percent versus the prior year. This reflects 21 percent higher volume, five percent higher local selling prices, a one percent benefit from currency, and a one percent reduction from portfolio changes. Emerging markets sales increased 32 percent. All segments had double-digit sales increases, with more than 25 percent volume growth in the Electronics & Communications, Performance Materials, and Safety & Protection segments.
DuPont increased its full-year 2010 earnings guidance range to $2.90 to $3.05 per share, excluding significant items. The previous range was $2.50 to $2.70 per share.
"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. We continue to hit our productivity and cost-control targets, and remain highly disciplined in creating operating leverage to further grow the company."