WILMINGTON, DE - DuPont has reported second-quarter 2011 earnings of $1.37 per share, up 17 percent versus $1.17 per share in the prior year, excluding significant items from both periods. Sales increased 19 percent to $10.3 billion with 11 percent higher local prices, 2 percent higher sales volume, 3 percent currency benefit and a 3 percent net increase from portfolio changes. Sales in developing markets grew 29 percent and represent 30 percent of total sales.
The company reported strong performances in Agriculture, Performance Chemicals and Safety & Protection. The acquisition of Danisco contributed to a 20 percent increase in segment pre-tax operating income, excluding significant items.
The company increased its full-year 2011 earnings outlook, excluding significant items, to a range of $3.90 to $4.05 per share. The increase reflects strong second-quarter results, the expectation for continued global economic growth and about $.05 per share full-year impact from Danisco on an underlying basis. Prior guidance was a range of $3.65 to $3.85 per share, excluding the impact of Danisco.
“Our strong second-quarter sales growth across all segments and regions resulted from consistent global execution and customer-focused innovation,” said DuPont Chair and CEO Ellen Kullman. “We are increasing our earnings outlook for 2011 based on strong performance year–to-date and confidence in our business plans for the second half of the year. Longer term, we expect additional compelling growth opportunities across our businesses stemming from science-powered innovations and collaboration, including the integration of Danisco’s world-class enzymes, fermentation and specialty food ingredients capabilities with DuPont’s strong industrial biosciences and nutrition and health offerings.”