DuPont (NYSE:DD) De Nemours lost ground Tuesday morning, on reporting fourth-quarter earnings that beat analysts' forecasts and revenue that topped expectations.
DuPont announced earnings per share of $0.95 on revenue of $5.25 billion. Analysts anticipated EPS of $0.854 on revenue of $5.15 billion.
Net sales totaled $5.3 billion, up 1% versus the year-ago period as reported and flat with the year-ago period on an organic basis. The fifth consecutive quarter of year-over-year growth in Electronics & Imaging led by strength in both semiconductors and smartphone technologies, coupled with further recovery in automotive markets, more than offset continued weakness in oil & gas, aerospace and select industrial markets which led to declines in the Safety & Construction segment.
GAAP EPS from continuing operations totaled $0.37 on GAAP income from continuing operations of $279 million, versus GAAP EPS from continuing operations of $0.24 on GAAP income from continuing operations of $191 million in the year-ago period.
The improvement is mostly attributable to the absence of a prior year net charge associated with a joint venture, a favorable income tax benefit and lower integration and separation costs partially offset by higher depreciation and amortization and lower segment earnings.
DuPont De Nemours shares are up 6% from the beginning of the year, still down 13.13% from its 52-week high of $87.27 set on January 12.
Those shares began the trading day Tuesday off 80 cents, 1.1%, to $74.96
